08:21 AM EST, 12/19/2024 (MT Newswires) -- XORTX Therapeutics ( XRTX ) , a late-stage clinical pharmaceutical company, on Thursday said Dr. Michael Bumby, a biotech/pharma industry veteran, is replacing James Fairbairn as the chief financial officer.

XORTX said it granted Bumby 13,000 options to buy common shares of the company at an exercise price of $1.75 for five years as part of the appointment.

U.S.-listed shares of XORTX were last seen down US$0.05 or 4%, at US$1.12 in premarket trading.

Shares of the company closed down $0.13 or 7%, to $1.62, near 52 week lows, on Wednesday on the TSX Venture Exchange.