MULN - Why Is Xortx Therapeutics (XRTX) Stock Moving Today?
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Xortx Therapeutics (NASDAQ:XRTX) stock is moving on Monday after the company reported positive results from a clinical trial.
Those results come from the second stage of its Pharmacokinetics Bridging Study titled XRX-OXY-101. This tested the effects of the company’s proprietary oxypurinol formulation in patients that were fed as compared to those in a fasted state.
According to the company, it saw improved bioavailability findings from the clinical trial in patients that were fed as compared to fasted. This data will help with the company’s upcoming Phase 3 registration trial to treat autosomal dominant polycystic kidney disease (ADPKD).
Dr. Allen Davidoff, CEO of Xortx Therapeutics, said the following about the results.
“Pharmacokinetic modeling of both of these data sets will provide key information regarding the safe and effective administration of oxypurinol and guide decision making as we plan and execute development of the XRx-008 program clinical and commercial development. We look forward to the initiation of dosing of Part 3 of the XRX-OXY-101 in the near future.”
News of the positive clinical trial results also bring heavy trading to XRTX stock today. As of this writing, more than 3 million shares of the stock have changed hands. That’s a massive leap over the company’s daily average trading volume of about 421,000 shares.
XRTX stock started off strong this morning with a roughly 30% gain. However, shares are currently down 4.2% as of late this morning.
Investors seeking out more of the latest stock market news will want to keep reading!
We’ve got all of the hottest stock market news moving shares this morning. That includes what’s happening with shares of Mullen Automotive (NASDAQ:MULN), Cineworld (OTCMKTS:CNWGY), and Social Capital Suvretta Holdings (NASDAQ:DNAA) stock. You can find out more at the following links!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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