CALGARY, Alberta , May 19, 2026 (GLOBE NEWSWIRE) -- XORTX Therapeutics Inc. ("XORTX" or the "Company") (NASDAQ:XRTX, TSXV:XRTX, Frankfurt: ANU)), a late-stage clinical pharmaceutical company focused on developing innovative therapies to treat gout and progressive kidney disease, announces that it has closed its previously announced public offering of 2,659,574 common shares ("Common Shares") or common shares equivalents in lieu thereof ("Pre-Funded Warrants") at a purchase price of US$1.88 (the "Offering").

In connection with the Offering, the Company entered into definitive securities purchase agreements with purchasers to which the Company has issued 183,577 Common Shares and 2,475,997 Pre-Funded Warrants. Each Pre-Funded Warrant will entitle the holder to acquire one common share at an exercise price of $0.0001 per share.

The gross proceeds from the Offering were US$5 million, before deducting placement agent fees and other offering expenses payable by the Company. The Company intends to use the net proceeds from the Offering for working capital and general corporate purposes, including investor relations related activities. The closing of the Offering remains subject to the final approval of the TSX Venture Exchange.

E.F. Hutton & Co. acted as exclusive placement agent for the Offering and was paid a cash commission of US$200,000, representing a 4% commission.  

The Common Shares (and Pre-Funded Warrants in lieu thereof) were issued pursuant to a registration statement on Form F-1 (File No. 333-290512), which was declared effective by the U.S. Securities and Exchange Commission (the "SEC") on May 13, 2026. The Offering was made only by means of the prospectus forming part of the effective registration statement relating to the Offering. A final prospectus relating to the Offering has been filed with the SEC. Copies of the final prospectus relating to the Offering may be ...