CALGARY, Alberta, March  24, 2026  (GLOBE NEWSWIRE) -- XORTX Therapeutics Inc. (&#34;XORTX&#34; or the &#34;Company&#34;) (NASDAQ:XRTX, TSXV:XRTX, Frankfurt: ANU)), a late-stage clinical pharmaceutical company focused on developing

TSXV:XRTX

XORTX Reports that Shareholders Approved the Share Consolidation at the Annual General Meeting

XORTX Shareholders Approve Key Share Consolidation to Meet NASDAQ Listing Requirements

<section class="insight" data-version="1">
  <section data-block="information">
    <h3>Information</h3>
    <p>CALGARY, Alberta, March  24, 2026  (GLOBE NEWSWIRE) -- XORTX Therapeutics Inc. (&amp;#34;XORTX&amp;#34; or the &amp;#34;Company&amp;#34;) (NASDAQ:XRTX, TSXV:XRTX, Frankfurt: ANU)), a late-stage clinical pharmaceutical company focused on developing</p>
  </section>

  <section data-block="ai-summary-paragraph">
    <h3>AI Summary</h3>
    <p>XORTX Therapeutics has obtained shareholder approval for a share consolidation aimed at maintaining compliance with NASDAQ&#039;s listing requirements of maintaining a share price above $1.00. This consolidation could significantly impact liquidity and investor confidence as the company works to advance its therapeutic programs.</p>
  </section>

  <section data-block="ai-summary-bullets">
    <h3>Key Points</h3>
    <ul><li>XORTX shareholders approved a share consolidation plan on March 24, 2026.</li><li>The consolidation is needed to meet NASDAQ listing requirements above $1.00.</li><li>Currently, 6,962,218 shares are outstanding, expected to reduce to approximately 1,392,443.</li><li>The consolidation approval is pending from the TSX Venture Exchange.</li><li>XORTX focuses on therapies for gout and progressive kidney disease.</li></ul>
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  <section data-block="companies-mentioned">
    <h3>Companies Mentioned</h3>
    <ul><li><strong>XORTX Therapeutics Inc. (XRTX)</strong>: Share consolidation is crucial for maintaining NASDAQ listing compliance.</li></ul>
  </section>

  <section data-block="category">
    <h3>Corporate Developments</h3>
    <p>This event falls under &#039;Corporate Developments&#039; as it involves shareholder decisions directly affecting the company&#039;s equity structure and compliance status.</p>
  </section>

  <section data-block="market-moving">
    <h3>Market-Moving</h3>
    <ul><li>Approval from TSXV could positively impact XORTX&#039;s share price and trading volume.</li><li>Share consolidation aims to address NASDAQ&#039;s compliance, influencing investor sentiment.</li><li>Market reaction will depend on successful consolidation implementation and future product developments.</li></ul>
  </section>

  <section data-block="key-facts">
    <h3>Key Facts</h3>
    <ul><li>Share consolidation ratio is 5:1, effective immediately post-approval.</li><li>NASDAQ requires shares to trade above $1.00 for 10 consecutive days by April 13, 2026.</li><li>Current outstanding shares stand at 6,962,218.</li><li>Post-consolidation shares expected: approximately 1,392,443.</li><li>No fractional shares will be issued in the consolidation process.</li></ul>
  </section>

  <section data-block="trading-thesis">
    <h3>Trading Thesis</h3>
    <p>Anticipate volatility leading up to the consolidation approval from TSXV, potentially increasing share price post-event.</p>
  </section>
</section>


<link type="text/css" rel="stylesheet" href="https://www.globenewswire.com/styles/gnw_nitf.css"></link><p align="justify">CALGARY, Alberta, March  24, 2026  (GLOBE NEWSWIRE) -- XORTX Therapeutics Inc. ("<strong>XORTX</strong>" or the "<strong>Company</strong>") (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/XRTX">XRTX</a>, TSXV:<a class="ticker" href="https://www.benzinga.com/quote/XRTX">XRTX</a>, 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 the shareholders of the Company, via ordinary resolution at the annual and special meeting of the shareholders held on March 24, 2026 (the "<strong>Meeting</strong>"), have authorized the board of directors of the Company (the "<strong>Board</strong>") to complete a consolidation of the issued and outstanding common shares in the capital of the Company ("<strong>Common Shares</strong>") on the basis of up to five (5) pre-consolidation Common Shares for every one (1) post-consolidation Common Share (the "<strong>Consolidation</strong>"). The Board is authorized to complete the Consolidation when the Board considers it to be in the best interests of the Company to implement such Consolidation, but in any event not later than one year from the Meeting. The Consolidation is pending approval of the TSX Venture Exchange (the "<strong>TSXV</strong>"). The Company will not undergo a name change in connection with the Consolidation.</p>  <p align="justify">The reason for the consolidation is to maintain compliance with (i) NASDAQ's continual listing requirements (namely, that the Company's shares trade above $1.00), and (ii) NASDAQ's condition for the Company that its shares trade above $1.00 for 10 days by April 13, 2026.</p>  <p align="justify">Prior to the Consolidation, the Company has 6,962,218 Common Shares issued and outstanding. No fractional Common Shares will be issued in connection with the Consolidation. In the event a holder of Common Shares would be entitled to fractional Common Shares as the result of the Consolidation, the fractional Common Shares shall be either: (i) cancelled, if less than one-half (1/2) of a full Common Share, or (ii) rounded up to the nearest whole number, if greater than or equal to one-half (1/2) of a full Common Share. The number of issued and outstanding Common Shares immediately following the Consolidation is approximately 1,392,443, however the exact number will vary depending on the cancellation and rounding of fractional Common Shares.</p>  <p align="justify">If the Consolidation is approved by the TSXV, the Company's Shares will commence trading on a post-Consolidation basis on a date to be determined in consultation with the TSXV, which shall be announced in a subsequent news release. Upon completion of the Consolidation, a letter of transmittal will be sent by mail to registered shareholders of the Company advising that the Consolidation has taken effect and instructing registered shareholders to take action to exchange their share certificates. The letter of transmittal will contain instructions on how registered shareholders can exchange their share certificates. Beneficial shareholders who hold their shares through a broker or other intermediary and do not have shares registered in their own names will not be required to take any action to exchange their share certificates.</p>  <p align="justify"><strong>About XORTX Therapeutics Inc.</strong></p>  <p align="justify">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. 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 <a href="http://www.xortx.com" title="www.xortx.com">www.xortx.com</a>.</p>  <p align="justify">For more information, please contact:</p> <table style="border-collapse: collapse; width:100%; border-collapse:collapse ;"><tr><td style="max-width:44%; width:44%; min-width:44%;;text-align: left ;  vertical-align: middle; vertical-align: top ; vertical-align: middle ; ">Allen Davidoff, CEO</td><td style="max-width:1%; width:1%; min-width:1%;;text-align: left ;  vertical-align: middle; vertical-align: top ; vertical-align: middle ; "> </td><td style="max-width:55%; width:55%; min-width:55%;;text-align: left ;  vertical-align: middle; vertical-align: top ; vertical-align: middle ; ">Nick Rigopulos, Director of Communications</td></tr><tr><td style="text-align: left ;  vertical-align: middle; vertical-align: top ; vertical-align: middle ; ">adavidoff@xortx.com</td><td style="text-align: left ;  vertical-align: middle; vertical-align: top ; vertical-align: middle ; "> </td><td style="text-align: left ;  vertical-align: middle; vertical-align: top ; vertical-align: middle ; ">nick@alpineequityadv.com</td></tr><tr><td style="text-align: left ;  vertical-align: middle; vertical-align: top ; vertical-align: middle ; ">+1 403 455 7727</td><td style="text-align: left ;  vertical-align: middle; vertical-align: top ; vertical-align: middle ; "> </td><td style="text-align: left ;  vertical-align: middle; vertical-align: top ; vertical-align: middle ; ">+1 617 901 0785</td></tr><tr><td style="text-align: left ;  vertical-align: middle; vertical-align: middle ; "> </td><td style="text-align: left ;  vertical-align: middle; vertical-align: middle ; "> </td><td style="text-align: left ;  vertical-align: middle; vertical-align: middle ; "> </td></tr></table> <p align="justify"><strong>Forward Looking Statements</strong></p>  <p align="justify">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&#39;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 &#34;expects&#34;, &#34;anticipates&#34;, &#34;intends&#34;, &#34;plans&#34;, &#34;believes&#34;, &#34;seeks&#34;, &#34;estimates&#34; 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, regulatory approvals, such as the TSXV; the ability to complete the Consolidation; the success and timing of our preclinical studies and clinical trials; the performance of third-party manufacturers and contract research organizations; our plans to develop and commercialize our product candidates; our plans to advance research in other kidney disease applications; and, our ability to obtain and maintain intellectual property protection for our product candidates. 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&#39;s website, <a href="http://www.sec.gov" title="www.sec.gov">www.sec.gov</a> (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 <a href="http://www.sedarplus.ca" title="www.sedarplus.ca">www.sedarplus.ca</a></p> <img alt="" class="__GNW8366DE3E__IMG" src="https://www.globenewswire.com/newsroom/ti?nf=OTY3NzkzOSM3NTAxOTE1IzIwOTcyNzk="></img> <br></br><img alt="" src="https://ml.globenewswire.com/media/YTAwYmNhMzktZmQ1MS00MGI3LWJjZDgtN2I5ZDA2YjRiOTc0LTExMDg4NTAtMjAyNi0wMy0yNC1lbg==/tiny/XORTX-Therapeutics-Inc-.png" referrerpolicy="no-referrer-when-downgrade"></img><p><a href="https://www.globenewswire.com/NewsRoom/AttachmentNg/9898c4f8-b373-438a-abfa-709c4372a061"><img src="https://ml.globenewswire.com/media/9898c4f8-b373-438a-abfa-709c4372a061/small/xortx-logo-jpg.jpg" border="0" width="150" height="150" alt="Primary Logo"></img></a></p>

XORTX Therapeutics has obtained shareholder approval for a share consolidation aimed at maintaining compliance with NASDAQ's listing requirements of maintaining a share price above $1.00. This consolidation could significantly impact liquidity and investor confidence as the company works to advance its therapeutic programs.

XORTX Reports that Shareholders Approved the Share Consolidation at the Annual General Meeting

AI Summary

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Market-Moving

Key Facts

Companies Mentioned

Corporate Developments

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