Corporate GovernanceApr 21, 2026, 07:02 AM
XORTX Regains Nasdaq Minimum Bid Price Compliance
AI Summary
XORTX Therapeutics Inc. announced it has regained compliance with Nasdaq's minimum bid price requirement of US$1.00 per share. This was achieved after the company implemented a 1-for-5 reverse stock split on April 6, 2026, leading its common shares to trade above the US$1.00 threshold for 10 consecutive trading days, fulfilling the requirement by April 17, 2026. The company received the official compliance letter from Nasdaq on April 20, 2026, curing the previous deficiency.
Key Highlights
- Regained compliance with Nasdaq Rule 5550(a)(2) minimum bid price.
- Implemented a 1-for-5 reverse stock split on April 6, 2026.
- Shares traded above US$1.00 for 10 consecutive days by April 17, 2026.
- Received Nasdaq compliance letter on April 20, 2026.