Xortx meets nasdaq continued listing requirements

Calgary, alberta, nov. 29, 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 it has received a letter of compliance from the nasdaq stock market llc's ("nasdaq”) listing qualifications department in connection with nasdaq rule 5550(a)(2) that requires the shares to maintain a minimum bid price of us$1.00 per share (the “minimum bid requirement”). in order to regain compliance, the company's common shares were required to trade at or above us$1.00 per share for at least 10 consecutive trading days. following implementation of a 1 for 9 reverse split of the company's common shares, this requirement was met on november 28, 2023 and the company received the compliance letter from nasdaq on such date.  as a result, the deficiency in the minimum bid requirement has been cured.
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