XORTX receives 180-day extension from NASDAQ for bid price compliance

XORTX Therapeutics Inc. (NASDAQ: XRTX) received a 180-day extension from NASDAQ to regain compliance with the minimum bid price requirement of $1.00 per share. The pharmaceutical company now has until April 13, 2026 to meet the requirement.

XORTX was first notified of non-compliance with NASDAQ Rule 5550(a)(2) on April 17, 2025, and was initially given until October 14, 2025 to regain compliance. The company requested and received the extension notice from NASDAQ Stock Market LLC.

During the second compliance period, XORTX must maintain a closing bid price of at least $1 per share for a minimum of 10 consecutive business days to achieve compliance. If the company meets this requirement, NASDAQ will provide written notification that compliance has been achieved and consider the deficiency matter closed.

If XORTX cannot demonstrate compliance by the April 13, 2026 deadline, NASDAQ will notify the company that its common shares will be delisted. The company would have the option to appeal the delisting determination to a NASDAQ Hearings Panel and would remain listed pending the panel's decision.

The notice does not affect XORTX's compliance status with the TSX Venture Exchange, where the company is also listed. XORTX stated it intends to evaluate all available options to resolve the deficiency and regain compliance with the NASDAQ requirement.

XORTX develops therapies for gout and progressive kidney disease, with three clinically advanced products in development including lead program XRx-026 for gout treatment, XRx-008 for ADPKD, and XRx-101 for acute kidney injury associated with respiratory virus infections.

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