XORTX Announces Receipt of Nasdaq Notification Regarding Minimum Bid Price Deficiency

Core Viewpoint - XORTX Therapeutics Inc. has received notification from Nasdaq regarding non-compliance with the minimum bid price requirement, as its common shares have been below US$1.00 for 30 consecutive business days [1][2]. Group 1: Compliance Status - The notification does not currently impact the Company's listing on the Nasdaq Capital Market, and it has 180 calendar days to regain compliance [2]. - If the bid price closes at or above US$1.00 for at least 10 consecutive business days within this period, Nasdaq will notify the Company of compliance [2]. Group 2: Company Overview - XORTX is a late-stage clinical pharmaceutical company focused on developing therapies for progressive kidney disease and gout, with three 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, targeting purine metabolism and xanthine oxidase to reduce uric acid production [4].