XORTX Announces Results of Annual and Special Meeting of Shareholders
29 Junho 2023 - 9:00AM
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 progressive kidney
disease, is pleased to announce the results of its annual and
special meeting of shareholders (the “Meeting”) held Wednesday,
June 28, 2023.
A total of 7,482,990 common shares of the
Company were represented at the Meeting, representing approximately
41.6% of the total number of common shares of the Company issued
and outstanding. All matters presented for approval at the Meeting
were duly authorized and approved including election of all six
management nominees (Anthony Giovinazzo (Chair), Allen Davidoff
(CEO), William Farley, Ian Klassen, Raymond Pratt and Paul Van
Damme) to the board of directors of the Company, the appointment of
Smythe LLP as auditors of the Company for the ensuing year and
authorization of the directors to fix their remuneration, and
re-approval of the stock option plan.
Anthony Giovinazzo, Chairman, stated,
“This year’s shareholder meeting saw the
departure of Jacqueline Le Saux who decided to not stand for
re-election. The Board extends its appreciation to Jacqueline for
her 2+ years of service to XORTX. Jacqueline’s expertise in
governance and contribution to both the audit committee and
notably, the corporate governance and nominating committee of the
Board was significant as the Company transitioned during her tenure
as a director from being listed on the CSE to the TSX Venture
Exchange and Nasdaq Capital Market. We wish Jacqueline the best in
her future endeavours.
This past year saw the positive completion of
important pharmacology studies, receipt of orphan drug designation
from the US Food and Drug Administration (“FDA”) and also potential
for FDA accelerated approval with the appropriate clinical data for
XORLO™, the Company’s proprietary formulation of oxypurinol, for
the treatment of autosomal dominant polycystic kidney
disease. I look forward to the coming year where we
hope to deliver on more of these important milestones.”
In other news, the Company announces the
appointment of James Fairbairn as Interim Chief Financial Officer.
James Fairbairn was the Company’s Chief Financial Officer from
November 2018 through July 2021. He has more than 20 years of
experience with publicly-traded companies. He is a Chartered
Professional Accountant, having obtained his CPA designation in
1987 and an Institute-certified Director. Jim Fairbairn holds a
B.A. from the University of Western Ontario.
About XORTX
Therapeutics Inc.
XORTX is a pharmaceutical company with two
clinically advanced products in development: 1) our lead, XRx-008
program for ADPKD; and 2) our secondary program in XRx-101 for
acute kidney and other acute organ injury associated with
Coronavirus / COVID-19 infection. In addition, XRx-225 is a
pre-clinical stage program for Type 2 Diabetic Nephropathy. XORTX
is working to advance its clinical development stage products that
target aberrant purine metabolism and xanthine oxidase to decrease
or inhibit production of uric acid. At XORTX, we are dedicated to
developing medications to improve the quality of life and future
health of patients. Additional information on XORTX is available at
www.xortx.com.
For more information, please
contact:
Allen
Davidoff, CEO |
|
Nick
Rigopulos, Director of Communications |
adavidoff@xortx.com or +1 403 455 7727 |
|
nick@alpineequityadv.com or +1 617 901 0785 |
|
|
|
Media Inquiries, David Melamed, Ph.D. |
|
|
david.melamed@russopartnersllc.com or +1 212 845
4225 |
|
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|
Neither the TSX Venture Exchange nor Nasdaq has
approved or disapproved the contents of this news release. No stock
exchange, securities commission or other regulatory authority has
approved or disapproved the information contained herein.
Forward Looking Statements
This press release contains express or implied
forward-looking statements pursuant to U.S. Federal securities
laws. These forward-looking statements and their implications are
based on the current expectations of the management of XORTX only,
and are subject to a number of factors and uncertainties that could
cause actual results to differ materially from those described in
the forward-looking statements. Except as otherwise required by
law, XORTX undertakes no obligation to publicly release any
revisions to these forward-looking statements to reflect events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events. More detailed information about the risks and
uncertainties affecting XORTX is contained under the heading “Risk
Factors” in XORTX’s Registration Statement on Form F-1 filed with
the SEC, which is available on the SEC's website, www.sec.gov
(including any documents forming a part thereof or incorporated by
reference therein), as well as in our reports, public disclosure
documents and other filings with the securities commissions and
other regulatory bodies in Canada, which are available on
www.sedar.com.
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