Xortx Therapeutics (NASDAQ:XRTX) stock is moving on Monday after the company reported positive results from a clinical trial.
These results come from the second stage of Xortx’s Pharmacokinetics Bridging Study titled XRX-OXY-101. The trial tested the effects of the company’s “proprietary oxypurinol formulation” in patients that were fed compared to those in a “fasted state.”
According to the Xortx, the company 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).
CEO Dr. Allen Davidoff 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 theses positive clinical trial results are bringing heavy trading to XRTX stock today. As of this writing, more than 3 million shares 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% as of late this morning and continue to fluctuate.
Investors seeking out more of the latest stock market news will want to keep reading!
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On the date of publication, William White did not hold (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.