XORTX Gets 180-Day Nasdaq Delisting Reprieve, Explores Compliance Options
XORTX Therapeutics Inc. (NASDAQ: XRTX) has received a 180-day extension from Nasdaq to meet the minimum bid price requirement of $1.00 per share, avoiding potential delisting. The company is exploring all options to regain compliance by April 13, 2026.
The extension, granted under Nasdaq Rule 5550(a)(2), gives XORTX until April 13, 2026 to comply. If the company fails to meet the requirement by this date, its common shares could be delisted from Nasdaq. However, XORTX can appeal the decision to a Nasdaq Hearings Panel. Notably, the Nasdaq notification does not impact XORTX's compliance status with the TSX Venture Exchange, where it is also listed.
To regain compliance, XORTX must ensure that the closing bid price of its common shares is at least $1 per share for at least 10 consecutive business days during the extension period. This would satisfy Nasdaq's minimum bid price requirement and prevent delisting.
XORTX Therapeutics Inc. has until April 13, 2026 to meet the Nasdaq minimum bid price requirement. The company is actively evaluating options to regain compliance and avoid potential delisting. If successful, the company's common shares will remain listed on both Nasdaq and the TSX Venture Exchange.
