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

About this update from Xortx Therapeutics, Inc.

[{"type":"text","content":"XORTX Issues Correction Notice and XORTX Announces 180-Day Extension to Regain Compliance with Nasdaq Minimum Bid Price Deficiency\n\n\n\n CALGARY, Alberta, Oct. 20, 2025 (GLOBE NEWSWIRE) -- XORTX Therapeutics Inc. (\"\n \n XORTX\n \n \" or the “\n \n Company\n \n ”) (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 a press release that had previously been issued on April 17, 2025 was re-issued in error today. Please disregard this prior press release.\n \n\n XORTX announces that it received today a notice (the “\n \n Extension Notice\n \n ”) from the Nasdaq Stock Market LLC (“\n \n Nasdaq\n \n ”) granting the Company’s request for a 180-day extension to regain compliance with the minimum bid price requirement (“\n \n Minimum Bid Requirement\n \n ”) of US$1.00 per share under the Nasdaq Rule 5550(a)(2). The Company was first notified by Nasdaq that is was non-compliant with the Minimum Bid Requirement on April 17, 2025, and was given until October 14, 2025 to regain compliance. The Company now has until April 13, 2026 to meet the requirement (the “\n \n Second Compliance Period\n \n ”).\n \n\n If at any time during the Second Compliance Period, the closing bid price of the Company's common shares is at least $1 per share for at least a minimum of 10 consecutive business days, Nasdaq will provide the Company with written notification that the Company has achieved compliance with the Minimum Bid Requirement and will consider deficiency matters closed. If compliance with the Minimum Bid Price Requirement cannot be demonstrated by April 13, 2026, Nasdaq will provide written notification that the Company's common shares will be delisted. At that time, the Company may appeal Nasdaq's determination to a Nasdaq Hearings Panel (the “\n \n Panel\n \n ”). The Company would remain listed pending the Panel’s decision. There can be no assurance that if the Company does appeal a subsequent delisting determination, that such appeal would be successful. Accordingly, there can be no assurance that the Company will be able to regain compliance with the Minimum Bid Price Requirement or maintain ...

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