eResearch Corp. (www.eresearch.com) published a 33-page initiation equity Research Report on XORTX Therapeutics Inc. (CSE:XRX ; OTC:XRTXF). eResearch initiated coverage with a "Speculative Buy" rating and one-year price target of $2.30.
XORTX is focused on kidney diseases with the development of a new formulation for the orphan disease (polycystic kidney) with a larger scope to develop a treatment for diabetic patients with Chronic Kidney Disease (“CKD”).
Currently, XORTX has two programs using pre-existing FDA approved drugs but enhanced with its proprietary drug delivery technology. The original drug approved more than 50 years ago for the treatment of gout has been restricted to other disease because of its toxicity and lack of benefits in approximately 30% of patients.
XORTX’s lead product (XRx-008) is focused on the treatment of an orphan kidney disease. While drugs are being introduced at higher price points, orphan drugs are launched at an initial base price that are many times that of other drugs for larger population diseases.
According to Evaluate Research, the global market for orphan diseases is expected to reach US$262 billion in 2024 and grow an estimated 11.5% per year from 2020-2024, more than 3 times the growth for large disease indications such as diabetes and cancer.
Senior Equity Analyst Claude Camiré believes the new formulation of xanthine oxidase inhibitors developed by XORTX could become a significant treatment option for patients with Polycystic Kidney Disease (“PKD”). This program is ready to file with the FDA and initiate a pivotal Phase 3 clinical trial in the next 12 months. The formulation could potentially be on the market by 2024.
XORTX has also developed another formulation for the treatment of acute kidney injury for hospitalized COVID-19 patients being treated in an intensive care unit. XORTX has started discussions with the FDA for initiating a pivotal Phase 3 clinical trial in the next year.
Earlier this month, XORTX announced a partnership with Mount Sinai hospital in New York City to study the incidence of Acute Kidney Injury and Hyperuricemia in patients hospitalized with COVID-19. This partnership with world experts in AKI adds strong credibility for the Company. XORTX is joining a network of individuals and organizations involved with artificial intelligence-enabled clinical diagnostic solutions for kidney disease.
XORTX has exclusive licenses to three U.S. granted patents and four U.S. patent applications for uric acid lowering agents to treat high blood pressure, insulin resistance or diabetic kidney disease, for formulations of xanthine oxidase inhibitors, until 2034.
Other public companies with drugs in development to treat PKD include Reata Pharmaceuticals Inc. (NASDAQ: RETA) and Regulus Therapeutics Inc. (NASDAQ: RGLS).
For more information about eResearch's 33-page research report on XORTX Therapeutics, please visit eResearch's website (www.eresearch.com).
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