XORTX Finalized $2.7M Prospectus Supplement and Concurrent Private Placement for the Offering of Units
Portfolio Pulse from Charles Gross
XORTX Therapeutics Inc., a late-stage clinical pharmaceutical company, has announced the completion of a second tranche closing, raising CAD $224,850 through a prospectus supplement and a concurrent private placement. This funding is part of a previously announced offering aimed at developing therapies for progressive kidney disease. The private placement included international subscribers, contributing CAD $99,000 to the total raised funds.
March 04, 2024 | 12:21 pm
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XORTX Therapeutics Inc. has successfully raised additional funds through a prospectus supplement and private placement, indicating progress in its development of therapies for progressive kidney disease.
The successful completion of the second tranche closing and the raising of CAD $224,850 through a prospectus supplement and private placement is a positive development for XORTX. It indicates the company's ability to attract funding for its late-stage clinical projects, which could lead to significant advancements in treatments for progressive kidney disease. This financial milestone could positively influence investor sentiment and potentially lead to an uptick in XRTX's stock price in the short term.
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