XORTX Announces Date for Rescheduled Special Meeting of Shareholders

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XORTX Therapeutics reschedules special meeting of shareholders to consider share consolidation.

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• XORTX Therapeutics reschedules special meeting of shareholders to consider share consolidation.

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CALGARY, Alberta, Oct. 25, 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 further to its earlier press release, the special meeting of shareholders has been rescheduled to 10:00 a.m. (Calgary time) on Friday, October 27, 2023 (the “Meeting”).

At the Meeting shareholders will consider a consolidation of the Company’s issued and outstanding shares in order for the Company to regain compliance with the continued listing requirements for the NASDAQ Capital Market.

About XORTX Therapeutics Inc.

XORTX is a pharmaceutical company with two clinically advanced products in development: 1) our lead, XRx-008 program for ADPKD; and 2) our secondary program in XRx-101 for acute kidney and other acute organ injury associated with Respiratory Viral infection. In addition, XRx-225 is a pre-clinical stage program for Type 2 Diabetic Nephropathy. XORTX is working to advance its clinical development stage products that target aberrant purine metabolism and xanthine oxidase to decrease or inhibit production of uric acid. At XORTX, we are dedicated to developing medications to improve the quality of life and future health of patients with kidney disease. Additional information on XORTX is available at www.xortx.com.

For more information, please contact:

Allen Davidoff, CEO adavidoff@xortx.com or +1 403 455 7727 Media Inquiries, OIipriya Das, PhD, MSc olipriya.das@russopartnersllc.com or +1 409 365 3641	Nick Rigopulos, Director of Communications nick@alpineequityadv.com or +1 617 901 0785

Neither the TSX Venture Exchange nor Nasdaq has approved or disapproved the contents of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

Forward-Looking Statements

This press release contains express or implied forward-looking statements pursuant to applicable securities laws. These forward-looking statements and their implications are based on the current expectations of the management of XORTX only, and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Except as otherwise required by law, XORTX undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. More detailed information about the risks and uncertainties affecting XORTX are contained under the heading “Risk Factors” in XORTX’s Annual Information Form filed with the applicable Canadian securities regulators and the Company’s 20-F filed with the SEC, which is available on the SEC's website, www.sec.gov (including any documents forming a part thereof or incorporated by reference therein), as well as in our reports, public disclosure documents and other filings with the securities commissions and other regulatory bodies in Canada, which are available on www.sedarplus.ca.

When is the special meeting of shareholders for XORTX Therapeutics?

The special meeting of shareholders for XORTX Therapeutics is scheduled for Friday, October 27, 2023.

What will be considered at the special meeting of shareholders?

At the special meeting of shareholders, the consolidation of the Company's shares will be considered.

Why is XORTX Therapeutics considering a share consolidation?

XORTX Therapeutics is considering a share consolidation in order to regain compliance with the continued listing requirements for the NASDAQ Capital Market.