XORTX Therapeutics Clarifies Halt of Trading in Canada and Timing for Commencement of Trading on TSX Venture Exchange

Rhea-AI Summary

XORTX Therapeutics Inc. (TSXV: XRTX | NASDAQ: XRTX), a pharmaceutical company focused on kidney disease therapies, announced the de-listing of its common shares from the Canadian Securities Exchange (CSE) effective today. Trading will resume on the TSX Venture Exchange (TSXV) tomorrow without any need for shareholders to exchange share certificates. The company is advancing two clinical products: XRx-008 for Autosomal Dominant Polycystic Kidney Disease and XRx-101 for acute kidney injury related to COVID-19. The CUSIP will remain unchanged for the common shares.

Positive

• Trading will shift from CSE to TSXV without requiring shareholder action.
• Continued development of XRx-008 and XRx-101 could enhance market position.

Negative

• None.

CALGARY, Alberta, Nov. 04, 2021 (GLOBE NEWSWIRE) -- XORTX Therapeutics Inc. ("XORTX" or the “Company”) (TSXV: XRTX | NASDAQ: XRTX), a pharmaceutical therapeutics company focused on developing innovative therapies to treat progressive kidney disease, wishes to clarify that the Company’s common shares were halted on both the TSX Venture Exchange (the “TSXV”) and the Canadian Securities Exchange (the “CSE”) to finalize the de-listing procedures required on the CSE.  The common shares will be de-listed from the CSE at close of market today and the common shares will re-commence trading tomorrow, Friday, November 5, on the TSXV under the trading symbol XRTX. 

Shareholders are not required to exchange their share certificates or take any other action in connection with the TSXV listing, as there will be no change in the CUSIP for the common shares.

About XORTX Therapeutics Inc.

XORTX Therapeutics Inc. is a pharmaceutical company with two clinically advanced products in development – XRx-008 for Autosomal Dominant Polycystic Kidney Disease (ADPKD), XRx-101 for acute kidney injury associated with Coronavirus / COVID-19 infection and XRx-225 is a pre-clinical stage program for Type 2 Diabetic Nephropathy (T2DN). 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 Therapeutics, we are dedicated to developing medications to improve the quality of life and future health of patients. Additional information on XORTX Therapeutics is available at www.xortx.com.

For further information, please contact:

Allen Davidoff, CEO	Nick Rigopulos, Director of Communications
adavidoff@xortx.com or +1 403 455 7727	nick@alpineequityadv.com or +1 617 901 0785
Dr. David Sans, Head of Corporate Development in New York City
dsans123@xortx.com or +1 347 573 0541

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

 

FAQ

Why were XORTX shares halted on the CSE?

XORTX shares were halted to finalize de-listing procedures before resuming trading on the TSXV.

When will XORTX shares start trading again?

XORTX shares will resume trading on the TSXV on November 5, 2021.

Do XORTX shareholders need to take any action for the TSXV listing?

No, shareholders do not need to exchange share certificates or take any action.

What is the focus of XORTX Therapeutics?

XORTX is focused on developing therapies for progressive kidney diseases.

What are the clinical products developed by XORTX?

XORTX is developing XRx-008 for ADPKD and XRx-101 for acute kidney injury associated with COVID-19.