XORTX Announces Receipt of Nasdaq Notification Regarding Minimum Bid Price Deficiency

Core Points - XORTX Therapeutics Inc. has received notification from Nasdaq that it is not in compliance with the minimum bid price requirement, as its common shares have closed below US$1.00 for 30 consecutive business days [1] - The company has 180 calendar days from the notification date to regain compliance, during which its shares will continue to trade on the Nasdaq Capital Market [2] - If the bid price closes at or above US$1.00 for at least 10 consecutive business days, Nasdaq will notify the company of compliance [2] - The notification does not affect the company's listing status on the TSX Venture Exchange [3] - XORTX is evaluating options to resolve the deficiency and regain compliance with Nasdaq Rule 5550(a)(2) [3] Company Overview - XORTX Therapeutics is focused on developing therapies for progressive kidney disease and gout, with three clinically advanced products: XRx-026 for gout, XRx-008 for ADPKD, and XRx-101 for acute kidney injury [4] - The company is also developing XRx-225, a pre-clinical program for Type 2 diabetic nephropathy [4] - XORTX aims to improve the quality of life for individuals with gout and other diseases by targeting purine metabolism and xanthine oxidase to reduce uric acid production [4]