XORTX Therapeutics (XRTX) Stock Jumps Over 22% After Hours: Here's Why

XORTX Therapeutics Inc. (NASDAQ:XRTX) shares climbed 22.16% to $2.26 in after-hours trading on Thursday after the company outlined its planned Clinical Trial Application for its gout drug candidate. XORTX Stock Rises as Gout Drug Heads Toward Health Canada Filing The Canadian late-stage clinical pharmaceutical company said it is preparing a Clinical Trial Application (CTA) with Health Canada for its XRx-026 gout program. The filing supports a two-part study, XRX-OXY-102, of XORLO, its proprietary oxypurinol formulation. Canadian Trial Could Accelerate FDA New Drug Application The company said running the first part in Canada is expected to speed delivery of key clinical data. That data would support a planned New Drug Application (NDA) with the Food and Drug Administration. Co-CEO Dr. Allen Davidoff said, "Advancing our Clinical Trial Application with Health Canada is expected to enable more efficient clinical plan execution." Read Also: Securitize Stock Jumps After Hours As It Launches Tokenized Apple, Nvidia, Tesla Shares On Solana Commercialization Partner Interest Grows XORTX said it has received more inquiries from potential commercialization partners. It has not entered into any agreement, and there is no assurance the discussions will lead to a transaction. Trading Metrics, Technical Analysis XORTX Therapeutics has a market capitalization of approximately $3.35 million. Its stock has traded between a 52-week high of $7.05 and a 52-week low of $1.59. XRTX has a Relative Strength Index (RSI) of 49.06. Over the past 12 months, the small-cap biotech stock has fallen 59.16%. Price Action: In the regular session, XRTX stock closed at $1.85, up 6.02%, according to Benzinga Pro data. .benzinga-widget#bz-embed-widget-block_280434ef63db064681e89759e53a22f1 iframe.w-full { width: 100%; } @media (max-width: 600px) { .benzinga-widget#bz-embed-widget-block_280434ef63db064681e89759e53a22f1 iframe.w-full { height: 520px; } } See More: Top Value Stocks Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors. Photo: FON’s Fasai / Shutterstock