Business
XORTX Announces Share Consolidation
CALGARY, Alberta, March 25, 2026 (GLOBE NEWSWIRE) -- XORTX Therapeutics Inc. (" XORTX " or the &#...
About this update from Xortx Therapeutics, Inc.
[{"type":"text","content":"XORTX Announces Share Consolidation\nCALGARY, Alberta, March 25, 2026 (GLOBE NEWSWIRE) -- XORTX Therapeutics Inc. (\"XORTX\" or the “Company”) (NASDAQ: XRTX | TSXV: XRTX | Frankfurt: ANU), a late-stage clinical pharmaceutical company focused on developing innovative therapies to treat gout and progressive kidney disease, announces that the Company’s board of directors has approved consolidating (the “Consolidation”) its common shares (“Shares”) on the basis of one post-consolidation Share for every five pre-consolidation Shares, effective March 27, 2025 (the “Effective Date”). The Company will not undergo a name change in connection with the Consolidation. The Consolidation has been approved by the TSX Venture Exchange (the “TSXV”) and follows approval of a consolidation of the Shares on the basis of a range of up to five pre-consolidation Shares for every one post-consolidation Share at the annual and special meeting of shareholders of the Company held on March 24, 2026. As a result of the Consolidation, the number of issued and outstanding Shares will be reduced from 6,962,218 to approximately 1,392,444, subject to adjustment for rounding. No fractional shares will be issued in connection with the Consolidation. In the event a holder of Common Shares would be entitled to fractional Common Shares as the result of the Consolidation, the fractional Common Shares shall be either: (i) cancelled, if less than one-half (1/2) of a full Common Share, or (ii) rounded up to the nearest whole number, if greater than or equal to one-half (1/2) of a full Common Share. No cash consideration will be paid in respect of fractional shares. The exercise or conversion price and/or the number of Shares issuable under any of the Company’s outstanding convertible securities will be proportionately adjusted in connection with the Consolidation. The reason for the consolidation is to maintain compliance with (i) NASDAQ’s continual listing requirements (namely, that the Company’s shares trade above $1.00), and (ii) NASDAQ’s condition for the Company that its shares trade above $1.00 for 10 days by April 13, 2026. The Shares will continue to trade on the TSXV and the Nasdaq Capital Market (“Nasdaq”) under the symbol “XRTX” ...