08:16 AM EDT, 05/17/2024 (MT Newswires) -- XORTX Therapeutics ( XRTX ) on Friday said it has received TSX Venture exchange approval to reprice certain warrants.

The move affects 901,000 warrants (now 101,111 after a 9:1 consolidation) that had been issued in the October 2021 private placement related to the company's U.S. IPO. The warrants had an original exercise price of US$42.93 (adjusted up from US$4.77 to US$42.93 per share post-consolidation).

The TSXV has now approved an amended post-consolidation exercise price of US$5 and a new warrant acceleration provision.

XORTX's 9:1 share consolidation was completed last November.