Xortx Therapeutics (NASDAQ:XRTX) may not be a familiar name for a lot of people, but for those with polycystic kidney disease, it may be their new best friend. New results emerged around an early-stage test the company kicked off, and investors responded with healthy acclaim, pushing share prices up substantially in Thursday’s trading.
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The study, known as XRX-OXY-101—Bridging Pharmacokinetics Clinical Trial, put the treatment known as oxypurinol or Xorlo through its paces. The four-part study revealed several critical points about oxypurinol, starting with a lack of significant safety issues. Those who used it found that they had few issues tolerating the drug. Additionally, once used, the study noted a significant increase in the availability of oxypurinol, that the Xorlo formulation platform got more oxypurinol into play, and also some information about desired dosing.
The upcoming phase 3 trials will feature, among other things, a fine-tuning of dosing needs. Moreover, the phase 3 trials will also feature the registration of patients with progressing kidney disease. In turn, that should prove the best test yet of just how well Xortx’s treatment works.
Interestingly, insider trading at Xortx Therapeutics is universally positive. While there hasn’t been a lot of purchasing made, all the transactions conducted in the last 12 months were buy transactions. Insiders bought C$19,100 worth of shares in the last three months.
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