Nasdaq Grants XORTX Therapeutics 180-Day Extension to Regain Compliance

XORTX Therapeutics has received a 180-day extension from Nasdaq to regain compliance with the exchange's minimum bid price of $1.00 per share. The company was initially non-compliant in April and will now have until November 15 to meet the requirement. XORTX was granted the extension after submitting a plan to regain compliance.

XORTX Therapeutics Inc. (NASDAQ: XRTX), a biopharmaceutical company focused on developing innovative therapies for progressive kidney disease and gout, has received a 180-day extension from the Nasdaq Stock Market to regain compliance with the exchange's minimum bid price requirement of $1.00 per share. The company was initially non-compliant in April 2025 and was granted an additional 180 days to meet the requirement, extending the deadline to November 15, 2025.

The extension follows a submission by XORTX outlining a plan to regain compliance. The company must now ensure that its shares close at or above $1.00 for 10 consecutive business days before the November 15 deadline. If successful, XORTX will avoid delisting from the Nasdaq Capital Market. However, the company's listing on the TSX Venture Exchange remains unaffected.

XORTX's initial non-compliance was due to the closing bid price falling below $1.00 for 30 consecutive business days, as per Nasdaq Rule 5550(a)(2). The company has been given 180 calendar days to meet the compliance requirement, during which time its shares will continue to trade on the Nasdaq Capital Market.

The extension does not guarantee XORTX's compliance or listing on the Nasdaq. The company must demonstrate that its bid price meets the $1.00 threshold for 10 consecutive business days. If compliance is not achieved by November 15, Nasdaq may provide written notification of delisting, and XORTX may appeal the decision to a Nasdaq Hearings Panel. However, there is no assurance that such an appeal would be successful.

Investors should closely monitor XORTX's share price over the next 180 days and watch for any corporate actions or announcements related to the company's efforts to regain compliance.