CALGARY, Alberta, Oct. 04, 2023 (GLOBE NEWSWIRE) -- XORTX Therapeutics Inc. ("XORTX" or the “Company”) (NASDAQ: XRTX | TSXV: XRTX | Frankfurt: ANU), a late-stage clinical pharmaceutical company focused on developing innovative therapies to treat progressive kidney disease, announces that the Company has called a special meeting of shareholders for 10:00 a.m. (Calgary time) on October 25, 2023 (the “Meeting”). Materials for the Meeting have been mailed to shareholders and are available on the Company’s SEDAR profile and the Company’s website.

The meeting has been called for shareholders to consider a consolidation of the Company’s issued and outstanding shares in order for the Company to comply with continued listing requirements for the NASDAQ Capital Market.

Dr. Allen Davidoff, CEO and XORTX, stated, "NASDAQ is one of the premier public stock markets in the world and an overwhelming base of XORTX liquidity. Despite recent public market challenges, the Company remains committed to crystallizing the potential of our late stage clinical programs by continuing to remain on this important market. For this reason, management and the Board of Directors recommend voting in favor of the reverse split of XORTX shares to bring the Company once again into compliance with NASDAQ listing requirements."

XORTX shareholders who have questions about the management information circular, or require assistance with voting their shares can contact the Company’s proxy solicitation agent, Laurel Hill Advisory Group:

Laurel Hill Advisory Group
North America Toll Free: 1-877-452-7184
Outside North America: 1-416-304-0211
Email: assistance@laurelhill.com

About XORTX Therapeutics Inc.

XORTX is a pharmaceutical company with two clinically advanced products in development: 1) our lead, XRx-008 program for ADPKD; and 2) our secondary program in XRx-101 for acute kidney and other acute organ injury associated with Respiratory Viral infection. In addition, XRx-225 is a pre-clinical stage program for Type 2 Diabetic Nephropathy. 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, we are dedicated to developing medications to improve the quality of life and future health of patients with kidney disease. Additional information on XORTX is available at www.xortx.com.

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