Value of company developing kidney disease treatments doubles in one day
Shares of XORTX Therapeutics, which is focused on developing drug therapies to treat progressive kidney disease, soared about 136% on Thursday, August 29. The company highlighted research that established a link between genetic factors and several diseases, including kidney disease. This might expand the market for XORTX therapies, as the study advocates a “precision-medicine approach in which genetic risk variants would guide treatment decisions.”
Details
On Thursday, XORTX stock surged 134.8% to $2.70 per share, giving back some of the gains in pre-market trading on Friday, however, when it fell 14.8%. Since the beginning of the year, it is now up about 17%.
On Thursday, the company shared the results of a study that examined the role of xanthine oxidoreductase in chronic kidney disease. An excess of xanthine oxidoreductase, the enzyme required to produce uric acid in the body, can lead to various conditions, including kidney disease. The researchers found that both environmental factors (such as diet and rising temperatures) and genetics could cause this excess. This will help identify patient subgroups that could benefit from targeted therapies, the study says.
“These discoveries highlight an opportunity to develop a personalized therapeutic approach for individuals whose unique genetic factors predisposed them to disease,” XORTX CEO Allen Davidoff commented on the research.
About XORTX Therapeutics
XORTX has two clinically advanced products in development. One is the XRx-008 molecule to treat ADPKD (autosomal dominant polycystic kidney disease), a progressive disease with extrarenal manifestations involving the cardiovascular system that can lead to premature death. XORTX aims to at least slow the progression of ADPKD with XRx-008. In further clinical trials, the company now plans to study the role of the newly identified genetic factors in individuals with ADPKD.
XORTX’s other product, XRx-101, is designed to treat acute kidney injury associated with Covid-19. A third drug, XRx-225, for treating type 2 diabetes-related nephropathy, is still in preclinical development.
Analyst recommendations
According to MarketWatch, XORTX Therapeutics is covered by one analyst, who recommends buying the stock, with a target price of $14.00 per share, indicating upside of more than 400% versus the August 29 close.
