Chief Financial Officer

XORTX Therapeutics Inc. (“XORTX”) is a pharmaceutical company with two clinically advanced products in development: 1) our lead, XRx-008 program for ADPKD; and 2) our secondary program in XRx-101 for acute kidney and other acute organ injury associated with Coronavirus / COVID-19 infection. In addition, XRx-225 is a pre-clinical stage program for Type 2 Diabetic Nephropathy. XORTX is working to advance its clinical development stage products that target aberrant purine metabolism and xanthine oxidase to decrease or inhibit production of uric acid.

At XORTX, we are dedicated to innovating and developing medications to improve the quality of life and future health of patients. The company is led by management and kidney disease experts dedicated to improving the quality of life of patients with kidney disease by slowing disease progression. We are passionate about pioneering new therapies to reduce the negative health consequences of kidney disease.

The company is a well-capitalized, publicly-traded (NASDAQ/TSX) Canadian healthcare company with head office in Calgary, Alberta.

XORTX is managed by a seasoned and experienced senior management team and governed by an independent, experienced and focused, professional Board of Directors. The Company is at a pre-phase 3 stage of development.

This is an exciting entrepreneurial and hands-on opportunity for the successful CFO candidate to ‘make their mark’ growing a development-stage healthcare company to full commercialization.

XORTX’s late-stage development programs provide an ideal CFO opportunity to engage in partnership, financing and M&A activity in a rapidly-growing company.

You’d be joining a company that has an independent and highly professional Board of Directors, accompanied by a seasoned and highly-experienced senior management and R&D team.

This is an exciting and highly visible senior leadership role partnering with a seasoned CEO in selling the XORTX story

The Chief Financial Officer (CFO) will play a key role in the construction of the strategic financial plan, implement strategies for ensuring continued growth, engage in active communications with the financial industry, and strive to ensure the financial viability of the company.

The successful candidate will provide leadership in the delivery of strategic financial management services including developing and implementing a corporate finance strategy, treasury and foreign exchange management, operational and statutory public reporting, tax planning, financial operations, enterprise risk management, internal processes and controls and investor relations and engagement. You will play a pivotal role in all capital markets activities as well as co-lead interactions with investment bankers, institutional investors and analysts.The company’s capital markets objectives include increasing its institutional shareholder base, securing additional analyst coverage and positioning the company for future capital raises.

Reporting to and partnering with the Chief Executive Officer (“CEO”), the CFO will directly play a critical role in developing, communicating and implementing the financial strategy of the company. As a member of the senior leadership team, the CFO will be an internal leader and advisor evaluating and assisting other team members with their financial plans and economic modeling. The CFO will also be responsible for overseeing all fiscal and fiduciary responsibilities for the organization, in conjunction with the CEO and Board of Directors. This includes: financial reporting and compliance; strategic input; enterprise risk management oversights; overseeing communication and outreach with investors, analysts and the financial community; and, having operational responsibility for the entire Finance function including team infrastructure, internal controls policies and procedures.

In addition, the CFO will also work in close partnership with the CEO and other members of the senior management team in identification, negotiation, purchase, and subsequent integration of potential global partnerships, alliances, and merger and acquisition candidates as part of the role. The CFO will build and maintain a value-aligned relationship with members of the management team and strengthen the corporate culture within the organization.

This is a hands-on position where the candidate will be involved in the oversight of the day-to-day financial operations of the company; as well as a complex and challenging external role that involves capital markets and investors. Ideally, the CFO will reside in Calgary or spend 2 weeks per month in the company head office and travel ~20%.

As an ideal candidate you meet the required ‘Key Qualifications & Experience’ (described in a subsequent section) and demonstrate the following executive competencies:

• An entrepreneurial mind-set that that is their “superpower”;
• A problem-solving and solutions-based mind-set;
• Has, builds and maintains a broad network of life science investors from retail through institutional investors and communicate Company vision and messaging;
• Is a leader and team player able to align with corporate values and culture;
• Possesses unquestionable personal and professional integrity;
• Develops and articulates a financial strategy that effectively drives growth and change;
• Manages progress through selection and use of key metrics;
• Seizes growth opportunities, based on a well-developed, long-term view of how relevant markets and their respective environments could change, and leads the organization to secure positions of competitive advantage;
• Takes appropriate risks to achieve objectives: understanding risks, mitigating as necessary and acting decisively when potential benefits outweigh the remaining risks;
• Demonstrates and encourages passion and confidence, which drives the organization to significant achievement;
• Maintains and utilizes a broad network of customers, industry contacts partners, suppliers, internal staff and others, as sources of new information and to challenge assumptions, which drive planning and implementation activities; and
• Demonstrates a deep understanding of the relevant environment and of competitors; and
• Resides in Calgary or ideally spends 2 weeks per month in the company head office.

The CFO will develop and implement strategies that enhance the company’s ability to most effectively manage its financial assets and resources, and in particular will:

• Lead and assist the CEO in all external financing and capital markets activities;
• Develop plans to meet short, medium and long-term fiscal requirements including equity/debt issuances, and/or strategic investments;
• Lead corporate level financial and operational reporting, including regular reporting to the senior management team, the Board of Directors and external stakeholders and make actionable recommendations on both strategy and operations;
• Structure internal controls, develop accounting policies, and build the finance department to play a key role in the global growth of the company;
• Ensure quarterly and annual cash flow projections meet the changing needs of the business;
• Identify all external non-dilutive funding opportunities (e.g., licensing, R&D grants);
• Develop and manage relationships with financial institutions, auditors, accountants, and insurance providers;
• Manage tax planning activities and work with the VP Finance to oversee annual audit and tax preparation;
• Oversee company budgeting, forecasting, profitability, financial performance and reporting processes both short- and long-term;
• Work with the VP Finance to oversee all financial and reporting functions, including cash management, accounts payable, accounts receivable, general ledger, and payroll;
• Manage treasury and foreign exchange risks and opportunities;
• Work with the VP Finance to oversee the evaluation, selection, and implementation of client/server accounting system to optimize financial reporting and analysis, and to support the management decision-making process;
• Liaise with operations, engineering, quality and regulatory functions, manage the integration of company core business processes and the financial support tools necessary to support the business model;
• Work to continuously implement and monitor benefits and compensation strategies;
• Advise the Board on equity compensation matters;
• Oversee the ongoing implementation of automated financial and management information systems for the company and ensure records systems are maintained in accordance with generally accepted auditing standards; and
• Interact with the senior management team to provide consultative support to planning initiatives through financial and management information analyses, reports and recommendations.

Key areas in which the successful candidate will be measured include:

• Completing and executing an analysis of insourcing or outsourcing the accounting function to ensure it is efficient and cost effective. To ensure credibility for the finance team by providing timely and accurate analysis of budgets and financial reports that will assist the CEO, Board of Directors and senior management in managing their responsibilities;
• Build/maintain strong relationships with the capital markets both in Canada and the US including investment bankers/analysts/investors/financial community;
• Substantially increase institutional shareholder investment;
• Manage finance/accounting systems, internal controls and processes that ensure compliance with statutory, divisional and regulatory requirements and the financial accuracy of the numbers;
• Build and develop an enterprise risk register and analysis framework;
• Establish credibility throughout the organization and with the Board and senior management as an effective strategic business partner and problem solver, be viewed as collaborative and results-driven and a mentor to people on financial issues; and
• Co-develop and execute strategic investor relations outreach program with all the key stakeholders.

The ideal candidate will bring the following skills and experiences:

• An undergraduate university degree, ideally in Business/Management/Economics combined with a CPA accounting designation. MBA and other post-graduate degrees are an asset;
• 10+ years of progressive finance leadership experience including the role of Chief Financial Officer in a public company traded on one or more of the Nasdaq or NYSE exchanges or TSX or TSX Venture ideally with a life sciences company or similar high-growth company;
• Proven track record of accomplishment and strong relationships in the capital markets both in the US, Europe, and in Canada with success in corporate public financing;
• Proven experience with offerings of public and private equity and debt financings;
• Experience dealing with a board of directors, investors, shareholders and having credible relationships in the capital markets including with investment bankers and analysts;
• Strong experience in operational financial and accounting processes, internal controls, including cash management, forecasting, budgeting, tax and annual audits.
• Proven track record of helping rapidly growing start-up companies scale effectively;
• Demonstrated “roll-up-the-sleeves” style to getting things done on time, decisive, collaborative, sense of urgency and a team player;
• Ability to wear “multiple hats” and be a strong communicator;
• Proven ability to lead, develop, coach and mentor a staff;
• Progressive, proactive thinker who can challenge the status quo to drive continuous improvement; and
• Proven track record of being a strategic thinker and trusted business partner; must combine solid business expertise with a strong financial background with implementation acumen.

XORTX is committed to equity, diversity and inclusion and recognizes that a diverse staff benefits and enriches the work environment and contributes to organizational excellence. We welcome applications from all qualified individuals including candidates from diverse backgrounds and those with disabilities.

XORTX is prepared to offer a competitive compensation package commensurate with skills and experience. Further details will be discussed in a personal interview: an attractive compensation & benefits package to include base salary, performance-based bonus and stock options commensurate with the level of this role.

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