CALGARY, Alberta, April 17, 2025 (GLOBE NEWSWIRE) -- XORTX Therapeutics Inc. (referred to as "XORTX" or the "Company"), a prominent late-stage clinical pharmaceutical enterprise dedicated to developing cutting-edge therapies for progressive kidney disease and gout, has received a concerning notification from the Nasdaq Stock Market LLC Listing Qualifications Department. This alert indicates that the Company currently does not meet the minimum bid price requirement outlined in Nasdaq Rule 5550(a)(2). Specifically, the closing bid price for the Companys common shares, which are traded on Nasdaq, has fallen below the threshold of US$1.00 for 30 consecutive business days.

Nasdaq Rule 5550(a)(2) stipulates that a company must maintain a minimum bid price of $1.00 per share to remain compliant. According to Rule 5810(c)(3)(A), a company is considered out of compliance if its bid price remains below this benchmark for the specified period of 30 consecutive business days. While this situation presents a significant challenge for XORTX, it is important to note that the notification does not currently impact the Companys listing status on the Nasdaq Capital Market.

In alignment with Listing Rule 5810(c)(3)(A), XORTX has a window of 180 calendar days from the date of notification to rectify the situation and regain compliance with the minimum bid price requirement. During this period, the Companys shares will continue to be traded on the Nasdaq Capital Market. Should the bid price of the shares rise to or exceed US$1.00 for a minimum of 10 consecutive business days, the Company may be eligible for a compliance notification from Nasdaq, provided it continues to meet other listing requirements. Nasdaq also retains the discretion to extend this 10-day period as stipulated in Rule 5810(c)(3)(H).

It is crucial to mention that XORTX is also listed on the TSX Venture Exchange, and the notification from Nasdaq does not influence the Companys compliance status with this separate exchange.

In light of this situation, XORTX is committed to exploring all possible options to address the deficiency and restore compliance with Nasdaq Rule 5550(a)(2). The Company recognizes the importance of maintaining a strong market presence and is actively considering strategies to enhance its share price.

About XORTX Therapeutics Inc.: XORTX is a forward-thinking pharmaceutical company with a robust portfolio featuring three clinically advanced product candidates. These include: the XRx-026 program, which targets the treatment of gout; the XRx-008 program designed for autosomal dominant polycystic kidney disease (ADPKD); and the XRx-101 program aimed at acute kidney injuries and other organ injuries linked to respiratory virus infections. Furthermore, the Company is in the early stages of developing XRx-225, a promising pre-clinical program for Type 2 diabetic nephropathy. XORTX is dedicated to addressing aberrant purine metabolism and xanthine oxidase to reduce or inhibit uric acid production, reflecting its mission to enhance the quality of life for individuals suffering from gout and other significant health conditions. For additional information about XORTX and its innovative therapies, please visit their official website at