XORTX Faces Nasdaq Compliance Challenge Over Share Price

XORTX Therapeutics Inc., a Calgary-based pharmaceutical company, has received a notification from the Nasdaq Stock Market regarding its non-compliance with the minimum bid price requirement. As of October 20, 2025, the closing bid price for XORTX’s common shares has been below US$1.00 for a continuous period of 30 business days, violating Nasdaq Rule 5550(a)(2).

This rule mandates that companies maintain a minimum bid price of US$1.00 per share. According to Nasdaq Rule 5810(c)(3)(A), a deficiency is declared when the bid price falls below this threshold for the stipulated duration. However, it is important to note that this notification does not currently affect XORTX’s listing status on the Nasdaq Capital Market.

In light of the notification, XORTX has a period of 180 calendar days to regain compliance with the minimum bid price requirement. During this time, the company’s shares will remain available for trading on the Nasdaq Capital Market. Should the bid price reach or exceed US$1.00 per share for at least 10 consecutive business days within this timeframe, XORTX could be reinstated, provided it continues to meet other listing requirements.

XORTX is also listed on the TSX Venture Exchange, and this notification has no impact on its compliance status with that exchange. The company plans to explore all available options to address the deficiency and achieve compliance with Nasdaq’s listing rules.

Overview of XORTX Therapeutics

Founded with a mission to develop innovative therapies, XORTX focuses on treatments for progressive kidney disease and gout, with three clinically advanced products in its portfolio. These include the lead program XRx-026 aimed at treating gout, XRx-008 for autosomal dominant polycystic kidney disease (ADPKD), and XRx-101 targeting acute kidney and other organ injuries associated with respiratory infections. Moreover, the company is in the pre-clinical stage of developing XRx-225 for Type 2 diabetic nephropathy.

XORTX emphasizes its commitment to addressing issues related to purine metabolism and xanthine oxidase to mitigate the production of uric acid, thereby improving the quality of life for individuals suffering from gout and related diseases.

The company has stated that it remains dedicated to advancing its product pipeline and responding effectively to the current challenge posed by the Nasdaq notification.

No approvals or disapprovals of this news release have been issued by either the TSX Venture Exchange or Nasdaq, nor by any securities commission or regulatory authority.

Looking Ahead

This development highlights the challenges that companies in the pharmaceutical sector can face regarding market compliance. XORTX will need to navigate this situation carefully, balancing its operational goals with the need to maintain its market presence.

In a statement, the company reaffirmed its intent to evaluate all potential strategies to resolve the current deficiency. Investors and stakeholders will be keenly watching how XORTX manages this situation over the coming months.

For more information about XORTX and its developments, visit www.xortx.com.

This press release may contain forward-looking statements, which are subject to risks and uncertainties. Detailed information about these risks can be found in XORTX’s Annual Report on Form 20-F filed with the SEC and available on the SEC’s website at www.sec.gov.