- **XORTX Therapeutics Inc.** received a notification from Nasdaq stating non-compliance with the minimum bid price requirement.  **[1729214_0001171843-25-006552_exh_991.htm:0]** 
- The company's common shares traded below **US$1.00** for **30 consecutive business days**, violating Nasdaq Rule **5550(a)(2)**.  **[1729214_0001171843-25-006552_exh_991.htm:0]** 
- XORTX has a period of **180 calendar days** from the notification date to regain compliance, which requires the bid price to close at or above **US$1.00** for a minimum of **10 consecutive business days**.  **[1729214_0001171843-25-006552_exh_991.htm:0]** 
- This notification does not immediately impact the company's listing on the Nasdaq Capital Market or its compliance status with the TSX Venture Exchange.  **[1729214_0001171843-25-006552_exh_991.htm:0]**

XORTX Therapeutics Inc. Receives Nasdaq Minimum Bid Price Deficiency Notification

- **XORTX Therapeutics Inc.** has announced the **pricing of a registered direct offering**.  **[1729214_0001171843-25-006546_exh_991.htm:0]** 
- The offering involves the sale of **1,746,631 common shares** (or common share equivalents) to an institutional investor at a purchase price of **US$0.63 per common share**.  **[1729214_0001171843-25-006546_exh_991.htm:0]** 
- The company expects to receive **gross proceeds of US$1.1 million** from this offering.  **[1729214_0001171843-25-006546_exh_991.htm:0]** 
- The **net proceeds** are intended for **working capital and general corporate purposes**.  **[1729214_0001171843-25-006546_exh_991.htm:0]** 
- The **closing** of the offering is anticipated to occur on or about **October 22, 2025**.  **[1729214_0001171843-25-006546_exh_991.htm:0]**

XORTX Announces Pricing of US$1.1 Million Registered Direct Offering

- **XORTX Therapeutics Inc.** received a notice from Nasdaq on **October 20, 2025**, granting a **180-day extension** to regain compliance with the **US$1.00 per share minimum bid price requirement**.  **[1729214_0001171843-25-006532_exh_991.htm:0]** 
- The company's new deadline to meet this requirement is **April 13, 2026**.  **[1729214_0001171843-25-006532_exh_991.htm:0]** 
- To achieve compliance, the closing bid price of the common shares must be at least **$1 per share for a minimum of 10 consecutive business days**.  **[1729214_0001171843-25-006532_exh_991.htm:0]** 
- Failure to demonstrate compliance by April 13, 2026, could lead to delisting from Nasdaq, although the company would have the option to appeal this determination.  **[1729214_0001171843-25-006532_exh_991.htm:0]**

XORTX Therapeutics Inc. announces 180-day extension to regain Nasdaq minimum bid price compliance

- XORTX Therapeutics Inc. published its **Pro-forma Interim Interim Balance Sheet** as of September 30, 2025, and October 16, 2025.  **[1729214_0001171843-25-006496_f6k_101725.htm:0]** **[1729214_0001171843-25-006496_exh_991.htm:0]** 
- The company's **Total Assets** significantly increased from **$2,811,078** on September 30, 2025, to **$6,061,078** on October 16, 2025, primarily due to **$3,250,000** in acquired assets.  **[1729214_0001171843-25-006496_exh_991.htm:0]** 
- **Total Shareholders' Equity** rose from **$1,973,670** to **$5,073,670** between September 30, 2025, and October 16, 2025, largely driven by a **$3,100,000** increase in reserves.  **[1729214_0001171843-25-006496_exh_991.htm:0]**

XORTX Therapeutics Inc. Releases Pro-forma Interim Balance Sheet for Q3 2025

- XORTX Therapeutics Inc. announced on **October 17, 2025**, the acquisition of a Renal Anti-Fibrotic Therapeutic Program from Vectus Biosystems Limited.  **[1729214_0001171843-25-006495_exh_991.htm:0]** 
- The acquired program includes **VB4-P5**, a **novel new chemical entity** at the **pre-IND stage** of development, which has demonstrated potential to inhibit and possibly reverse kidney fibrosis.  **[1729214_0001171843-25-006495_exh_991.htm:0]** **[1729214_0001171843-25-006495_exh_991.htm:1]** 
- This program targets both rare and prevalent forms of kidney disease, addressing a **substantial unmet medical need** as there are **no approved therapies specifically targeting or reversing kidney fibrosis**.  **[1729214_0001171843-25-006495_exh_991.htm:0]** 
- The consideration for the acquisition is **USD $3.0 million**, payable in common shares or common share equivalents of XORTX at a deemed issue price of **USD $0.86 per Security**.  **[1729214_0001171843-25-006495_exh_991.htm:0]** 
- VB4-P5 benefits from robust global patent protection, covering composition-of-matter and method-of-use claims across **more than 30 global jurisdictions**.  **[1729214_0001171843-25-006495_exh_991.htm:1]**

XORTX Therapeutics Inc. Announces Acquisition of Renal Anti-Fibrotic Therapeutic Program

- XORTX Therapeutics is focused on developing therapies for **gout** and **autosomal dominant polycystic kidney disease (ADPKD)**.  **[1729214_2137893_1]** 
- The company estimates a conservative market opportunity of **CAD 700 million** for its gout product (XORLO/oxypurinol formulation) for allopurinol-intolerant patients and a **CAD 1 billion-CAD 1.5 billion** opportunity for its ADPKD program.  **[1729214_2137893_1]** **[1729214_2137893_2]** **[1729214_2137893_3]** 
- XORTX plans to file an Investigational New Drug (IND) application in the next quarter and aims to file a New Drug Application (NDA) for the gout indication within **12-14 months**, followed by an estimated **9-12 month** review period.  **[1729214_2137893_1]** **[1729214_2137893_2]** **[1729214_2137893_4]** 
- Patent protection for XRx-026 extends through **2034** for general patents and through **2041 and 2043** for formulation and use patents, covering both gout and ADPKD applications.  **[1729214_2137893_5]** 
- The company's current market capitalization is around **$4 million-$5 million**, and it anticipates significant value creation as it progresses towards NDA submission and approval, aiming for a transition to being revenue positive.  **[1729214_2137893_6]**

XORTX Therapeutics Provides Update on Drug Development and Market Opportunities

- XORTX Therapeutics is primarily focused on its gout program (XORLO™), which targets a **$700 million** market opportunity for allopurinol-intolerant patients.  **[1729214_2137763_1]** **[1729214_2137763_2]** 
- The company plans to file an Investigational New Drug (IND) application in the next quarter and aims to submit a New Drug Application (NDA) within **12 to 14 months**.  **[1729214_2137763_1]** **[1729214_2137763_2]** **[1729214_2137763_4]** 
- XORTX projects peak net sales of approximately **$700 million per year** for the gout program.  **[1729214_2137763_2]** **[1729214_2137763_4]** 
- A secondary program for autosomal dominant polycystic kidney disease (ADPKD) is estimated to have a market opportunity of **$1 billion to $1.5 billion**, though it is not the current priority.  **[1729214_2137763_1]** **[1729214_2137763_4]** **[1729214_2137763_6]** 
- The company's current market capitalization is **$4 million to $5 million U.S.**, with management anticipating significant value creation as it progresses towards NDA submission and approval.  **[1729214_2137763_6]**

XORTX Therapeutics (XRTX)