New on my Radar: XORTX Therapeutics (NASDAQ/TSXV: XRTX) - $14/share Price Target from Alliance Global Partners
In developing Innovative therapies to improve the quality of life of patients with progressive kidney disease and diabetes XRTX is a late-stage clinical pharmaceutical and drug-based biotechnology company focused on orphan disease indications.
With its primary focused on revolutionary technology for large markets such as diabetic nephropathy and acute kidney injury associated with respiratory virus infections such as SARS-CoV-2, XRTX possesses patents and patent applications including US and international rights regarding the development of uric acid-lowering agents for the treatment of hypertension, insulin resistance, diabetes, metabolic syndrome, and kidney injury.
Recently, XRTX announced the submission of a new patent for the treatment of chronic kidney disease (CKD) for new formulations of xanthine oxidase inhibitors (XOI) for their use in particular autosomal dominant polycystic kidney diseases (ADPKD), diabetic nephropathy (DN), IgA nephropathy, lupus nephritis and focal segmental glomerulosclerosis.
Notably, this is another positve step in XRTX's pipeline beyond its Xorlo program which is in a Phase 2/3 trial in patients with stage 2-4 ADPKD.
XRTX is continuing to scale up its supply and to conduct pre-launch activities in prep for a potential NDA filing as soon as 2025.
With the potential for Xorlo to be the next potential ADPKD treatment option available, Alliance Global Partners reiterated its BUY rating and raised its price target to $14/share based on a sum-of-the-parts analysis and the underlying technology.
For more information on XRTX, check out Dr. Allen Davidoff on the Money Talk Radio with Ellis Martin: https://www.abnnewswire.net/lnk/2HY6W9YL