Xortx announces 180-day extension to regain compliance with nasdaq minimum bid price deficiency

Calgary, alberta, may 24, 2023 (globe newswire) -- xortx therapeutics inc. ("xortx" or the “company”) (nasdaq: xrtx | tsxv: xrtx | frankfurt: anu), a late-stage clinical pharmaceutical company focused on developing innovative therapies to treat progressive kidney disease, announces that on may 23, 2023 it received a notice (the “extension notice”) from the nasdaq stock market llc (“nasdaq”) granting the company's request for a 180-day extension to regain compliance with the minimum bid price requirement (“minimum bid requirement”) of us$1.00 per share under the nasdaq rule 5550(a)(2). the company was first notified by nasdaq of its failure to comply with the minimum bid requirement on november 22, 2022, and was given until may 22, 2023 to regain compliance. the company now has until november 20, 2023 to meet the requirement (the “second compliance period”).
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