XORTX Faces Nasdaq Deficiency Notification Over Share Price

XORTX Therapeutics Inc., a late-stage clinical pharmaceutical company based in Calgary, Alberta, has received a notification from the Nasdaq Stock Market LLC regarding a deficiency in meeting the minimum bid price requirement. As of October 20, 2025, the closing bid price for XORTX’s common shares on Nasdaq has been below US$1.00 for 30 consecutive business days, which is a violation of Nasdaq Rule 5550(a)(2).

This rule mandates that listed shares maintain a minimum bid price of US$1.00. The notification does not currently impact XORTX’s listing on the Nasdaq Capital Market. According to Nasdaq Rule 5810(c)(3)(A), XORTX has 180 calendar days from the notification date to regain compliance. During this period, the company’s shares will continue to trade on Nasdaq.

To regain compliance, XORTX must achieve a closing bid price of US$1.00 or higher for at least 10 consecutive business days. Nasdaq has the discretion to extend this period under Rule 5810(c)(3)(H), should the company meet other listing requirements.

In addition to its Nasdaq listing, XORTX is also publicly traded on the TSX Venture Exchange. The notification received does not affect its compliance status with this exchange. XORTX is evaluating all available options to address this deficiency and achieve compliance with the minimum bid price requirement.

Overview of XORTX Therapeutics Inc.

XORTX specializes in developing innovative therapies aimed at treating progressive kidney disease and gout. The company has three advanced products in its pipeline, including:

1. **XRx-026** for gout treatment.
2. **XRx-008** targeting autosomal dominant polycystic kidney disease (ADPKD).
3. **XRx-101** designed for acute kidney and other organ injuries associated with respiratory virus infections.

Additionally, XORTX is working on **XRx-225**, a pre-clinical program for Type 2 diabetic nephropathy. The company focuses on decreasing uric acid production through targeted therapies that address aberrant purine metabolism and xanthine oxidase.

XORTX is committed to enhancing the quality of life for individuals affected by gout and other significant health conditions. More information about the company and its initiatives can be found on its website, www.xortx.com.

Forward-Looking Statements

This announcement contains forward-looking statements regarding XORTX’s future plans and performance. These statements involve risks and uncertainties that could lead to actual results differing from those anticipated. Significant factors include the ability to secure additional financing, the accuracy of financial estimates, and the success of clinical trials.

XORTX has no obligation to publicly revise any forward-looking statements, unless required by law or stock exchange regulations. Detailed information regarding potential risks is available under the “Risk Factors” section in XORTX’s Annual Report on Form 20-F, filed with the Securities and Exchange Commission (SEC), accessible at www.sec.gov, as well as in other public filings available on www.sedarplus.ca.

Neither the TSX Venture Exchange nor Nasdaq has approved or disapproved the contents of this announcement, which remains subject to regulatory scrutiny.