XORTX Therapeutics Inc ( (TSE:XRTX) ) has issued an announcement.
XORTX Therapeutics Inc. has received a notification from the Nasdaq Stock Market regarding non-compliance with the minimum bid price requirement, as its shares have closed below $1.00 for 30 consecutive business days. The company has 180 days to regain compliance, during which its shares will continue to trade on the Nasdaq Capital Market. XORTX is evaluating options to address this deficiency, while its listing on the TSX Venture Exchange remains unaffected.
Spark’s Take on TSE:XRTX Stock
According to Spark, TipRanks’ AI Analyst, TSE:XRTX is a Underperform.
The overall stock score for XORTX Therapeutics Inc is low, driven primarily by its poor financial performance with no revenue and consistent losses. The technical analysis indicates bearish market conditions, further weighing down the score. Valuation metrics also reflect a negative assessment as the P/E ratio is negative, with no dividends to offset the lack of earnings. The combination of these factors suggests significant challenges ahead for the company.
To see Spark’s full report on TSE:XRTX stock, click here.
More about XORTX Therapeutics Inc
XORTX Therapeutics Inc. is a late-stage clinical pharmaceutical company focused on developing innovative therapies for progressive kidney disease and gout. The company has three clinically advanced products: XRx-026 for gout, XRx-008 for ADPKD, and XRx-101 for acute kidney and other organ injuries related to respiratory virus infections. Additionally, XORTX is working on a pre-clinical stage program, XRx-225, for Type 2 diabetic nephropathy, targeting aberrant purine metabolism and xanthine oxidase to decrease uric acid production.
YTD Price Performance: -19.28%
Average Trading Volume: 7,023
Technical Sentiment Signal: Strong Buy
Current Market Cap: C$4.7M
For an in-depth examination of XRTX stock, go to TipRanks’ Stock Analysis page.