XORTX Issues Correction Notice and XORTX Announces 180-Day Extension to Regain Compliance with Nasdaq Minimum Bid Price Deficiency

CALGARY, Alberta, Oct. 20, 2025 (GLOBE NEWSWIRE) — XORTX Therapeutics Inc. (“SUCCESS” or “Company(NASDAQ: XRTX | TSXV: XRTX | Frankfurt: ANU), a late-stage clinical pharmaceutical company developing innovative treatments for gout and progressive kidney disease, announces that a press release that was previously issued on April 17, 2025 was reissued today in error. Please disregard this previous press release.

XORTX says it received notification today (“Renewal Notice“) from Nasdaq Stock Market LLC (“Nasdaq“) satisfaction of the Company's request for a 180-day extension to restore compliance with the minimum bid price requirement (“Minimum bid“) in the amount of $1.00 per share pursuant to Nasdaq Rule 5550(a)(2). The Company was first notified by Nasdaq of non-compliance with the Minimum Tender on April 17, 2025 and was given until October 14, 2025 to regain compliance. The Company now has until April 13, 2026 to comply with this requirement (“”Second matching period“).

If at any time during the Second Compliance Period the closing price of the Company's common stock is at least $1.00 per share for at least 10 consecutive business days, Nasdaq will provide the Company with written notice that the Company has achieved compliance with the Minimum Offering Requirements and will consider the deficiency matter closed. If compliance with the minimum bid price requirements cannot be demonstrated by April 13, 2026, Nasdaq will provide written notice that the Company's common stock will be delisted. At that time, the Company may appeal Nasdaq's decision to the Nasdaq hearing panel (“Panel“). The Company will remain listed pending the Commission's decision. There can be no assurance that if the Company appeals a subsequent delisting decision, such appeal will be successful. Accordingly, there can be no assurance that the Company will be able to regain compliance with the minimum bid price requirements or maintain its listing on the Nasdaq Capital Market.

The Company is also listed on the TSX Venture Exchange and the Notice Letter does not affect the Company's compliance status with such listing.

The Company intends to evaluate all available options to correct the deficiency and restore compliance with Nasdaq Rule 5550(a)(2).

About XORTX Therapeutics Inc.

XORTX is a pharmaceutical company with three clinically advanced products in development: 1) our flagship program, XRx-026, a gout treatment program; 2) XRx-008 program for ADPKD; and 3) XRx-101 for acute kidney injury and other acute organ damage associated with respiratory viral infections. The company is also developing XRx-225, a preclinical stage program for the treatment of type 2 diabetic nephropathy. XORTX is working to develop products that target abnormal purine metabolism and xanthine oxidase to reduce or inhibit uric acid production. At XORTX, we are dedicated to developing medicines that improve the quality of life and health of people living with gout and other important diseases. More information about XORTX can be found at: www.xortx.com.

For more information contact:
Allen Davidoff, CEO Nick Rigopoulos, Director of Communications
[email protected] or +1 403 455 7727 [email protected] or +1 617 901 0785

Neither the TSX Venture Exchange nor Nasdaq has approved or disapproved of the contents of this press release. No stock exchange, securities commission or other regulatory authority has approved or disapproved of the information contained herein.

Forward-Looking Statements

This press release contains forward-looking statements, express or implied, within the meaning of applicable securities laws. These forward-looking statements include, but are not limited to, the Company's beliefs, plans, goals, objectives, expectations, assumptions, estimates, intentions, future performance of the Company, other statements that are not historical facts, and statements identified by words such as “expects,” “expects,” “intends,” “plans,” “believes,” “seeks,” “estimates” or words of similar meaning. These forward-looking statements and their implications are based only on the current expectations of XORTX management 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. Such risks, uncertainties and other factors include, but are not limited to, our ability to obtain additional financing; the accuracy of our estimates of expenses, future revenues and capital requirements; the success and timing of our preclinical studies and clinical trials; activities of third-party manufacturers and contract research organizations; our plans to develop and commercialize our product candidates; our plans to advance research into other kidney diseases; and our ability to obtain and maintain intellectual property protection for our product candidates. Except as otherwise required by applicable law and stock exchange regulations, 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 information about the risks and uncertainties affecting XORTX is contained in the “Risk Factors” section of 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 part of or incorporated by reference therein) and in our reports, public disclosure documents and other documents filed with the securities commissions and other regulatory authorities of Canada, which are available at www.sedarplus.ca.


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