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XORTX (NASDAQ: XRTX) cures Nasdaq minimum bid deficiency

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
6-K

Rhea-AI Filing Summary

XORTX Therapeutics Inc. reports that it has regained compliance with Nasdaq’s continued listing rules for the minimum bid price. Nasdaq requires shares to maintain a bid of at least US$1.00 per share for 10 consecutive trading days. After a 1-for-5 reverse split of its common shares on April 6, 2026, this requirement was met on April 17, 2026, and XORTX received a Nasdaq compliance letter on April 20, 2026, curing the prior deficiency.

Positive

  • Nasdaq listing compliance restored: XORTX received a Nasdaq letter confirming it now meets the Minimum Bid Requirement of US$1.00 per share after a 1-for-5 reverse split and 10 consecutive trading days at or above that level, curing a prior listing deficiency and reducing near-term delisting risk.

Negative

  • None.

Insights

XORTX has cured its Nasdaq minimum bid price deficiency through a reverse split and now meets continued listing standards.

XORTX Therapeutics confirms that it again satisfies Nasdaq’s Minimum Bid Requirement of US$1.00 per share under Nasdaq Rule 5550(a)(2). The company achieved at least 10 consecutive trading days at or above the threshold following a 1-for-5 reverse split implemented on April 6, 2026.

This development removes the prior listing deficiency tied to share price and reduces immediate risk of a Nasdaq delisting action based on that rule. The company continues to position itself as a late-stage clinical pharmaceutical developer with multiple kidney and gout programs in progress, while ongoing compliance with Nasdaq standards remains an important consideration.

Minimum bid price threshold US$1.00 per share Nasdaq Rule 5550(a)(2) Minimum Bid Requirement
Reverse split ratio 1-for-5 Reverse split of common shares effective April 6, 2026
Consecutive trading days required 10 trading days Period shares must trade at or above US$1.00 to regain compliance
Reverse split date April 6, 2026 Implementation date of 1-for-5 reverse split
Compliance achieved date April 17, 2026 Date on which Minimum Bid Requirement was met
Nasdaq compliance letter date April 20, 2026 Date XORTX received Nasdaq’s letter confirming compliance
Minimum Bid Requirement financial
"that requires a listed company’s shares to maintain a minimum bid price of US$1.00 per share (the “Minimum Bid Requirement”)."
A minimum bid requirement is a rule that a stock’s price must meet or exceed a set floor for certain market actions — for example to remain listed on an exchange, qualify for a tender offer, or participate in a specific auction. It matters to investors because falling below that floor can trigger delisting, limit who can buy or sell the shares, or change the terms of a transaction; think of it like a store’s minimum purchase needed to access a special sale, which affects value and liquidity.
reverse split financial
"Following implementation of a 1 for 5 reverse split of the Company’s common shares on April 6, 2026, this requirement was met"
A reverse split is when a company reduces the number of its outstanding shares by combining several existing shares into one new share, so the price per share rises proportionally while the company’s overall value stays the same. Investors care because it can make a stock appear more respectable or meet exchange rules — like turning many small coins into a single larger bill — but it can also signal financial trouble and often affects trading liquidity and investor perception.
Nasdaq Rule 5550(a)(2) regulatory
"Nasdaq Rule 5550(a)(2) that requires a listed company’s shares to maintain a minimum bid price"
foreign private issuer regulatory
"Form 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16"
A foreign private issuer is a company organized outside the United States that meets tests showing it is primarily foreign-controlled and therefore qualifies for a different set of U.S. reporting rules. For investors, that means the company files less frequent or differently formatted disclosures with U.S. regulators and may follow home-country accounting and governance practices, so buying its stock is like dining at a well-reviewed restaurant that follows its home kitchen’s rules instead of the local menu — you get access but should check what standards apply.
forward-looking statements regulatory
"This press release contains express or implied forward-looking statements pursuant to applicable securities laws."
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
Form 6-K: How Foreign Companies Report to the SEC →
 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

Form 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of April 2026

Commission File Number: 001-40858

XORTX Therapeutics Inc.

3710 – 33rd Street NW, Calgary, Alberta, T2L 2M1

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
Form 20-F [ X ]      Form 40-F [   ]

 

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

  XORTX Therapeutics Inc.    
   (Registrant)
    
   
Date: April 21, 2026 By:     /s/ Allen Davidoff    
  Name: Allen Davidoff
  Title: Chief Executive Officer
   

EXHIBIT INDEX 

99.1 News release dated April 21, 2026
 

EXHIBIT 99.1

XORTX Meets Nasdaq Continued Listing Requirements

CALGARY, Alberta, April 21, 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, is pleased to announce 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 a listed company’s 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 5 reverse split of the Company’s common shares on April 6, 2026, this requirement was met on April 17, 2026, and the Company received the compliance letter from Nasdaq April 20, 2026. As a result, the deficiency in the Minimum Bid Requirement has been cured.

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. Additional information on XORTX is available at www.xortx.com.

For more information, please contact:

Allen Davidoff, CEONick Rigopulos, Director of Communications
adavidoff@xortx.comnick@alpineequityadv.com
+1 403 455 7727+1 617 901 0785
  

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.

Source: View Original Filing on SEC EDGAR

FAQ

What did XORTX Therapeutics (XRTX) announce regarding its Nasdaq listing?

XORTX announced it has regained compliance with Nasdaq’s continued listing standards for the minimum bid price. Nasdaq confirmed that the company now satisfies the US$1.00 per share requirement, curing a previous deficiency tied to its share price and stabilizing its current listing status.

How did XORTX restore compliance with Nasdaq’s minimum bid price rule?

XORTX restored compliance by implementing a 1-for-5 reverse split of its common shares on April 6, 2026. After the split, its shares traded at or above US$1.00 per share for at least 10 consecutive trading days, meeting Nasdaq’s Minimum Bid Requirement.

What is Nasdaq’s Minimum Bid Requirement mentioned by XORTX?

Nasdaq’s Minimum Bid Requirement under Rule 5550(a)(2) requires a listed company’s shares to maintain a minimum bid price of US$1.00 per share. XORTX met this standard after its reverse split and 10 consecutive trading days at or above that price level, restoring compliance.

When did XORTX receive Nasdaq’s compliance letter on its share price?

XORTX received Nasdaq’s compliance letter on April 20, 2026. This followed a 1-for-5 reverse split on April 6, 2026, and confirmation that its common shares traded at or above US$1.00 per share for at least 10 consecutive trading days, ending April 17, 2026.

What are the main drug programs XORTX Therapeutics is developing?

XORTX is developing three clinically advanced programs: XRx-026 for gout, XRx-008 for autosomal dominant polycystic kidney disease, and XRx-101 for acute kidney and organ injury associated with respiratory virus infections, alongside earlier-stage kidney disease candidates XRx-225 and VB4-P5.

Does XORTX’s update include any forward-looking statements or risks?

Yes. The company notes that its statements include forward-looking information about ongoing Nasdaq compliance, timing and success of preclinical and clinical trials, and plans to develop and commercialize product candidates, all subject to risks described in its Form 20-F and Canadian regulatory filings.

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