Source: XORTX Therapeutics Inc.

Source: XORTX Therapeutics Inc.

October 29, 2025 07:00 ET

Announces Closing of US$1.1 Million Registered Direct Offering

CALGARY, Alberta, Oct. 29, 2025 (GLOBE NEWSWIRE)

-- XORTX Therapeutics Inc. ("XORTX" or the "Company") (NASDAQ: XRTX | TSXV: XRTX | Frankfurt: ANU),

a late-stage clinical pharmaceutical company focused on developing innovative therapies to treat gout and progressive kidney disease,

announces that it has closed its registered direct offering announced on October 21, 2025, for the purchase and sale of 1,750,000 common

shares (the "Common Shares") (or pre-funded warrants (the "Pre-Funded Warrants") in lieu thereof)

in a registered direct offering (the "Offering") at a purchase price of US$0.63 per common share.

In connection with the Offering, the Company entered

into a definitive securities purchase agreement with an institutional investor pursuant to which the Company has issued 572,470 Common

Shares and 1,117,530 Pre-Funded Warrants. Each Pre-funded Warrant will entitle the holder to acquire one common share at an exercise price

of $0.001 per share.

The gross proceeds from the Offering were US$1,102,500.00,

before deducting placement agent fees and other offering expenses payable by the Company. The Company intends to use the net proceeds

from the Offering for working capital and general corporate purposes.

D. Boral Capital LLC acted as sole placement agent

for the Offering, and will be issued 87,500 agent warrants. Each agent warrant is exercisable into one Common Share of the Company at

an exercise price of US$0.69 per Common Share commencing 181 days following issuance, and has a term of eighteen months from the closing

The Common Shares (and Pre-Funded Warrants in

lieu thereof) were issued in a registered direct offering pursuant to an effective shelf registration statement on Form F-3 (File No.

333-269429) previously filed with the U.S. Securities and Exchange Commission (the "SEC"), under the Securities Act

of 1933, as amended (the "Securities Act"), and declared effective by the SEC on February 3, 2023. A final prospectus

supplement describing the terms of the proposed registered direct offering was filed with the SEC and is available on the SEC's

website located at http://www.sec.gov. Electronic copies of the prospectus supplement may

be obtained, when available, from D. Boral Capital LLC, 590 Madison Avenue, 39th Floor,

New York, NY 10022, or by telephone at +1 (212) 970- 5150, or by email at info@dboralcapital.com.

This press release shall not constitute an offer

to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such

offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About XORTX Therapeutics Inc.

is a pharmaceutical company with three clinically advanced products in development: 1) our lead program XRx-026 program for the treatment

of gout; 2) XRx-008 program for ADPKD; and 3) XRx-101 for acute kidney and other acute organ injury associated with respiratory virus

infections. In addition, the Company is developing XRx-225, a pre-clinical stage program for Type 2 diabetic nephropathy. XORTX is working

to advance products that target aberrant purine metabolism and xanthine oxidase to decrease or inhibit production of uric acid. At XORTX,

we are dedicated to developing medications that improve the quality of life and health of individuals with gout and other important

diseases. Additional information on XORTX is available at www.xortx.com.

For more information, please contact:

Neither the TSX Venture Exchange nor Nasdaq

has approved or disapproved the contents of this news release. No stock exchange, securities commission or other regulatory authority

has approved or disapproved the information contained herein.

Forward Looking Statements

press release contains express or implied forward-looking statements pursuant to applicable securities laws. For example, the Company

is using forward-looking statement in this press release when it discusses the intended use of proceeds and closing of the Offering.

These forward-looking statements and their implications are based on the current expectations of the management of XORTX only, and are

subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking

statements. Except as otherwise required by applicable law and stock exchange rules, XORTX undertakes no obligation to publicly release

any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence

of unanticipated events. More detailed information about the risks and uncertainties affecting XORTX is contained under the heading "Risk

Factors" in XORTX's Annual Report on Form 20-F filed with the SEC, which is available on the SEC's website, www.sec.gov (including

any documents forming a part thereof or incorporated by reference therein), as well as in our reports, public disclosure documents and

other filings with the securities commissions and other regulatory bodies in Canada, which are available on www.sedarplus.ca.