XRTX News & Events

Xortx Therapeutics announced the addition of Mika Grasso as co-CEO responsible for finance and public markets. Grasso has served as a director of the company since March 24. Grasso has served as an investment manager at a family office, where he has been responsible for sourcing and evaluating the fund's direct investment and co-investment efforts.

Xortx Therapeutics announced the pricing of a public offering of 2.66M common shares at an offering price of $1.88 for gross proceeds of $5M, prior to deducting placement agent's fees and other offering expenses. The offering is expected to close on or about May 15, subject to satisfaction of customary closing conditions, including the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange. E.F. Hutton & Co. is acting as exclusive placement agent for the offering.

XORTX Therapeutics announces that it has received a letter of compliance from the Nasdaq Stock Market's 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. 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.