08:17 AM EDT, 09/03/2025 (MT Newswires) -- XORTX Therapeutics ( XRTX ) was edging up in US premarket trade on Wednesday after saying it is initiating an investigational new drug (IND) preparation for its lead program, XRx-026 (XORLO), which is focused on the treatment of gout.

To support it, Xortx has engaged Allucent, a global contract research organization specializing in regulatory and clinical development.

The IND follows the Type B meeting that was held in April with the U.S. Food and Drug Administration for Xorlo, the company said.

"The initiation of IND preparation marks a pivotal step toward regulatory submission and ultimately bringing XORLO to individuals with gout," said Dr. Allen Davidoff, chief executive officer. "Partnering with Allucent ensures we have the depth of regulatory expertise needed to deliver a high-quality submission and advance this important program with rigor and speed."

In other news, Xortx issued 73,871 common shares at US$1.54 ($2.21) each, to raise US$113,550 during the quarter ended March 31, under the ATM offering announced Nov. 30, 2023.

Xortx was up US$0.01, to US$0.83, in U.S. pre-market trade. It closed down $0.01, to $1.10, on the Toronto Stock Exchange yesterday.