XORTX Announces Election to Voluntary Delist from the TSX Venture Exchange
Rhea-AI Summary
XORTX (NASDAQ:XRTX) elected to voluntarily delist its common shares from the TSX Venture Exchange following a strategic review of dual-listing costs and regulatory requirements. The company expects benefits including lower exchange, legal and accounting fees, streamlined financing and greater management focus on advancing its XRx-026 gout program.
Shares will continue trading on Nasdaq, no shareholder action is required, and XORTX remains a reporting issuer in Alberta, British Columbia and Ontario.
Positive
- Voluntary TSXV delisting expected to cut duplicative exchange fees
- Company anticipates reduced legal and accounting expenses
- Management expects optimized financing initiatives post-delisting
- Delisting aims to free management focus for XRx-026 gout program
- Nasdaq listing preserved, with full trading access for all shareholders
- Company remains a reporting issuer in Alberta, British Columbia and Ontario
Negative
- Common shares will no longer be listed on the TSX Venture Exchange
- Canadian investors lose a domestic exchange venue for trading XRTX
News Market Reaction – XRTX
On the day this news was published, XRTX gained 0.46%, reflecting a mild positive market reaction. Argus tracked a peak move of +16.4% during that session. Argus tracked a trough of -3.4% from its starting point during tracking. Our momentum scanner triggered 6 alerts that day, indicating moderate trading interest and price volatility. This price movement added approximately $17K to the company's valuation, bringing the market cap to $3.77M at that time.
Data tracked by StockTitan Argus on the day of publication.
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| May 19 | Financing closed | Negative | -4.2% | Closing of US$5M equity financing with commissions and IR allocation. |
| May 14 | Financing announced | Negative | -14.1% | Announcement of US$5M public offering at US$1.88 per share or warrants. |
| Apr 21 | Nasdaq compliance | Positive | +19.6% | Nasdaq letter confirming minimum bid price compliance after reverse split. |
| Apr 13 | Asset acquisition | Positive | -1.8% | US$3.0M acquisition of Vectus kidney anti-fibrotic asset VB4-P5. |
| Apr 01 | Share consolidation | Positive | +3.7% | Confirmation of 1-for-5 share consolidation effective April 6, 2026. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Recent financings and corporate actions often led to notable price reactions, with offerings drawing negative moves and listing/compliance steps seeing positive responses.
Over the last few months, XORTX executed multiple financings and structural actions. Two public offering announcements in May 2026 for US$5 million each were followed by -14.1% and -4.23% moves. A 1-for-5 share consolidation confirmed on April 1 and subsequent Nasdaq compliance news on April 21 produced positive reactions of 3.67% and 19.56%. The April acquisition of a Vectus kidney asset on April 13 saw a modest -1.81% move, indicating mixed market reception of pipeline expansion versus dilution and balance-sheet concerns. Today’s TSXV delisting fits into this broader streamlining and listing-focused narrative.
Key Terms
tsx venture exchange regulatory
nasdaq regulatory
dual listing financial
reporting issuer regulatory
AI-generated analysis. How Rhea-AI works. Not financial advice.
CALGARY, Alberta, June 12, 2026 (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 gout and progressive kidney disease, announces that the Company has elected to voluntarily delist its common shares from the TSX Venture Exchange (“TSXV”). The Company will provide additional information on timing for the completion of the delisting of its common shares in a separate press release.
This decision was taken following a comprehensive evaluation, the Company determined that maintaining a dual listing on the TSXV does not justify the associated costs and administrative requirements and presents challenges due to the different regulatory environments. It is envisioned that the voluntary delisting will eliminate duplicative exchange fees, reduce legal and accounting expenses, optimize company financing initiatives and minimize regulatory complexity, and enable greater management focus on the advancement of the XRx-026 program for the treatment of gout for long-term shareholder value creation.
All shareholders, including Canadian shareholders, will continue to maintain full trading access of their common shares on Nasdaq. No action is required by shareholders in connection with the voluntary delisting. Shareholders with account-specific questions are encouraged to contact their respective brokers.
The voluntary delisting from the TSXV was approved by the Company's Board of Directors. In accordance with TSXV policies, shareholder approval is not required as the Company’s common shares are listed on an acceptable alternative market. XORTX will continue to be a reporting issuer under applicable securities laws in Alberta, British Columbia and Ontario.
About XORTX Therapeutics Inc.
XORTX is a pharmaceutical company with three clinically advanced products in development: 1) our lead program XRx-026 program for the treatment of gout; 2) XRx-008 program for ADPKD; and 3) XRx-101 for acute kidney and other acute organ injury associated with respiratory virus infections. In addition, the Company is developing XRx-225, a pre-clinical stage program for Type 2 diabetic nephropathy and recently acquired VB4-P5 program, which is currently at the pre-IND stage of development and targets both rare and prevalent forms of kidney disease. XORTX is working to advance 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 that improve the quality of life and health of individuals with gout and other important diseases.
For more information, please contact:
| Allen Davidoff, CEO | Nick Rigopulos, Director of Communications |
| adavidoff@xortx.com | nick@alpineequityadv.com |
| +1 403 455 7727 | +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 include, but are not limited to, the Company's beliefs, plans, goals, objectives, expectations, assumptions, estimates, intentions, future performance, other statements that are not historical facts and statements identified by words such as "expects", "anticipates", "intends", "plans", "believes", "seeks", "estimates" or words of similar meaning. 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. Such risks, uncertainties, and other factors include, but are not limited to our ongoing compliance with Nasdaq listing standards; the success and timing of our preclinical studies and clinical trials; our plans to develop and commercialize our product candidates; and our plans to advance research in other kidney disease applications. Except as otherwise required by applicable law and stock exchange rules, 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 is contained under the heading “Risk Factors” in XORTX’s Annual Report on Form 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.
