XORTX Elects TSXV Delisting to Cut Fees and Focus on XRx-026
XRTX•XORTX has elected to voluntarily delist its common shares from the TSX Venture Exchange to eliminate duplicative exchange fees, reduce legal expenses and minimize regulatory complexity. Canadian shareholders will retain full trading access on Nasdaq while the company reallocates resources towards advancing its XRx-026 gout therapy program.
1. Decision to Voluntarily Delist
XORTX’s Board approved a voluntary delisting of its common shares from the TSX Venture Exchange following a comprehensive review of the costs and administrative burdens associated with maintaining a dual listing across different regulatory environments.
2. Financial and Administrative Savings
The delisting is expected to eliminate duplicative exchange fees, reduce legal and accounting expenses, and simplify compliance requirements, enabling the company to allocate capital more efficiently and streamline reporting processes.
3. Continued Nasdaq Trading Access
All shareholders, including Canadian investors, will continue to trade XORTX common shares on Nasdaq without any action required, preserving liquidity and access to the company’s stock on a major U.S. exchange.
4. Strategic Focus on XRx-026 Program
Management plans to direct the resources saved from the TSXV delisting towards advancing XRTX’s lead XRx-026 gout therapy program, accelerating clinical development and long-term value creation for shareholders.
