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Popping Approx. 10% On Breaking News, (XRTX) Could Attract Breakout Buzz Early
March 19th
Dear Reader,
XRTX is making waves early on breaking news.
Providing a compelling company update early today, XRTX has been introduced to a breakout spark seeing it up approximately 10% at the moment!
Take a look at the news now:
XORTX Highlights Achievements of 2023 and Preparation for Registration Clinical Trial
CALGARY, Alberta, March 19, 2024 (GLOBE NEWSWIRE) -- XORTX Therapeutics Inc. ("XORTX" or the “Company”) (NASDAQ: XRTX | TSXV: XRTX | Frankfurt: ANUA WKN: A3UNZ), a late-stage clinical pharmaceutical company focused on developing innovative therapies to treat progressive kidney disease, is pleased to provide a summary of Company’s achievements in 2023 and objectives planned for 2024.
Dr. Allen Davidoff, CEO of XORTX, stated, “2023 marked a year of substantial clinical, technological and regulatory progress, establishing the foundation for the Company’s 2024 goals. Key milestones include: 1/ the grant of U.S. Orphan Drug Designation for the XRx-008 program for Autosomal Dominant Polycystic Kidney Disease (“ADPKD”) that is being developed under the US FDA 505(b)2 rules further de-risking this program; 2/ ongoing discussions with the US FDA have aligned our endpoints and other Phase 3 clinical trial elements to make XORLO™ the Company’s proprietary oxypurinol formulation, eligible for accelerated approval. These key advances on the XRx-008 program during 2023 were made possible by the exceptional efforts of our Board of Directors, employees, consultants, and vendors. We believe the goals set for 2024 will advance our lead program XRx-008 for ADPKD ever closer to conducting a registration clinical trial leading to marketing approval and value creation for XORTX and its shareholders.”
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Read the full article here.
With at least 8 triggered technicals over at Barchart going into today's bell, and a low float of fewer than 2Mn shares over at Yahoo Finance, this news could become a strong catalyst to draw attention to this Nasdaq profile.
Plus, XRTX's chart is showing it is currently above 3 key technical lines including its 50-Day and 200-Day Simple Moving Averages and its 13-Day Exponential Moving Average.
If support grows at those levels, it could signal huge things ahead for XRTX.
Take a moment to review my initial report and get XRTX pulled up now.
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Did you see my latest breakout idea? If not, it popped-off this past Thursday.
Running from an open of $1.99 to a new 5-month high of $2.36, the Nasdaq profile unleashed a surge of approximately 18% intraday.
But that's not the only update I've got for you. My alert from March 6th has now clipped a max move of approximately 10.5% after huge news last week.
A little bit slower of a mover, but a double-digit champ within 2 weeks nonetheless!
Listen. I'm not going to beat around the bush. I've identified a new breakout idea.
And this one? It could be a doozy!
With a tiny float under 2Mn shares, volatility could be injected into this Nasdaq profile in the blink of an eye.
Furthermore, this profile boasts an extensive analyst price target.
Alliance Global Partners has suggested a $14 price target reported over at TipRanks.
From Monday's opening valuation, that target suggests upside potential well over 150+%!
It gets better. As of Monday afternoon, this Nasdaq profile had triggered at least 8 different technical indicators over at Barchart including the website's composite "Trend Seeker" indicator.
That's a lot to take in. But, now is not the time to pump the breaks.
Instead, it's time to pull up Nasdaq breakout idea:
*XORTX Therapeutics Inc. (XRTX)*
XORTX Therapeutics is a late stage clinical pharmaceutical company dedicated to developing innovative therapies to improve the quality of life of patients with progressive kidney disease.
And based on these potential breakout catalysts, XRTX needs immediate attention. Check them out:
#1. Volatility Watch - A Low Float Could Create An Explosive Situation.
#2. Bullish Technicals - Key Triggered Indicators May Suggest Breakout Potential.
#3. New Patent Submission - XORTX Aims To Protect New Discoveries And Strategies.
#4. XRTX Could Be Growing Strong Support At 3 Key Technical Lines.
But more on those in a second...
XORTX Therapeutics - Immediate Points Of Consideration
- The company is developing drug-based therapies for serious progressive kidney diseases with a high unmet medical need, including Autosomal Dominant Polycystic Kidney Disease (ADPKD), Diabetes Type-2 Nephropathy (T2DN) and Acute Kidney Injury (AKI).
- Three patent families derived from their proprietary pipeline-in-a-product technology with broad therapeutic claims. Multiple third-party studies with well-understood Oxypurinol have characterized the mechanism of action (MoA) in over 700 patients treated, including multiple Ph2 studies. Patent protection until 2034.
- Clear focus on XRx-008 program for ADPKD with a $1.0-1.8Bn per year revenue potential for XRTX in the US alone: strong unmet medical need; only one drug approved subject to a black box warning with market exclusivity expiring in 2025; Orphan Drug Designated granted by FDA; path to accelerated approval confirmed; potential for early revenue in 2026/7 to replace Tolvaptan by Otsuka.
- Short-term catalyst: signing of a global licensing deal in 2024/2025 may provide nondilutive funding to support the Ph3 pivotal registration clinical trial with approximately 200 patients.
- Strong cash position of $5.2Mn - runway for 14 months.
- Senior team led by CEO Allen W. Davidoff, Ph.D was responsible for Oxypurinol development in prior ventures and knows how to build shareholder value (Cynapsus Therapeutics was acquired for $624Mn and Trillium Therapeutics was bought for $2.2Bn by Pfizer).
First-in-class Product Candidate Ready for Ph3 Clinical Trials of Xanthine Oxidase Inhibitor for ADPKD
XORTX's pipeline targets areas of high unmet medical need, including Autosomal Dominant Polycystic Kidney Disease (ADPKD), Acute Kidney Injury (AKI) due to CV19, and Type 2 Diabetic Nephropathy (T2DN).
End-stage Renal Disease (ESRD) market valued at around $114Bn globally in 2022 and is expected to reach $183.9Bn by 2032.
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