Welcome to our dedicated page for Onconetix news (Ticker: ONCO), a resource for investors and traders seeking the latest updates and insights on Onconetix stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Onconetix's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Onconetix's position in the market.
Onconetix (NASDAQ: ONCO) received a notice from Nasdaq on December 6, 2024, regarding its failure to file the Q3 2024 Form 10-Q, which violated Nasdaq's continued listing requirements. The company subsequently filed the required report on December 10, 2024.
Onconetix is a commercial-stage biotechnology company specializing in men's health and oncology. The company owns Proclarix®, an EU-approved in vitro diagnostic test for prostate cancer acquired through Proteomedix, and ENTADFI, an FDA-approved daily medication combining finasteride and tadalafil for benign prostatic hyperplasia (BPH) treatment.
Onconetix, Inc. (Nasdaq: ONCO) has announced a $2.0 million private placement of Series C Convertible Preferred Stock and Warrants, along with establishing a $25 million equity line of credit. The private placement includes 3,499 shares of Series C Preferred Stock and warrants to acquire up to 591,856 additional common shares. The Series C Preferred Stock is initially convertible into 776,590 common shares. Warrants have an exercise price of $4.38 per share, exercisable after six months and expiring three years later.
The company will seek stockholder approval for the issuance of shares related to this transaction. Proceeds will be used for working capital and general corporate purposes. Tungsten Advisors served as financial advisor. The equity line of credit allows Onconetix to sell up to $25 million of newly issued common stock to an institutional investor, subject to certain conditions.
Onconetix, Inc. (NASDAQ: ONCO) announced the approval of all proposals at its 2024 Annual Meeting of Stockholders held on September 5, 2024. The company's Board of Directors approved a 1-for-40 reverse stock split of its outstanding common shares, effective September 24, 2024. Key approvals include:
1) Election of two Class III directors
2) Increase in shares under the 2022 Equity Incentive Plan
3) Authorization for reverse stock split
4) Approval of share issuances related to Series A and B Preferred Stock conversions, private placement financing, and Proteomedix AG stock option assumption
5) Approval of share issuances for inducement preferred investment options and placement agent warrants
6) Ratification of EisnerAmper LLP as independent auditor
The reverse split aims to regain compliance with Nasdaq's minimum bid price requirement. It will reduce the number of outstanding shares from approximately 30.2 million to 755,000.
Onconetix (Nasdaq: ONCO) has closed the previously announced exercise of existing warrants, raising $1.11 million in gross proceeds. The company issued 7,458,642 shares of common stock at a reduced exercise price of $0.15 per share. In exchange, Onconetix issued new unregistered warrants to purchase up to 22,375,926 shares of common stock in a private placement.
The new warrants have an exercise price of $0.15 per share and are subject to stockholder approval. One-third of the warrants have a 5-year term, while two-thirds have a 24-month term from the date of stockholder approval. H.C. Wainwright acted as the exclusive placement agent for this transaction.
Onconetix announced the exercise of existing warrants, leading to gross proceeds of $1.11 million. The company agreed to lower the exercise price of warrants issued in August 2022 and 2023 from $1.09-$2.546 per share to $0.15 per share. This transaction, handled by H.C. Wainwright & Co., is anticipated to close by July 12, 2024. Proceeds will be used for working capital and corporate purposes. In return, Onconetix will issue new unregistered warrants for 22,375,926 shares at $0.15 per share, pending stockholder approval within 90 days. The new warrants will have varying exercise terms of 24 months and five years.
Oncopeptides AB announced that Holger Lembrer has taken office as Chief Financial Officer (CFO) as of January 18, 2023. His appointment aims to enhance the company’s leadership team, bringing valuable expertise from his previous roles in publicly traded international companies. Oncopeptides focuses on developing therapies for difficult-to-treat hematological diseases, leveraging its proprietary Peptide Drug Candidate platform. Pepaxti, their notable product, has received marketing authorization in the EU and other regions for the treatment of adult patients with multiple myeloma, although it is not currently marketed in the US following a recommendation to withdraw its authorization.
FAQ
What is the current stock price of Onconetix (ONCO)?
What is the market cap of Onconetix (ONCO)?
