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Onconetix, Inc. Announces Positive Decision by Nasdaq Hearings Panel
Globenewswire· 2025-06-16 12:22
Core Viewpoint - Onconetix, Inc. has received approval from the Nasdaq Hearings Panel for continued listing on The Nasdaq Stock Market, contingent upon compliance with specific Nasdaq Listing Rules by set deadlines [1][2]. Group 1: Compliance and Listing Status - On June 11, 2025, Onconetix was granted a decision for continued listing, requiring compliance with the Periodic Filing Listing Rule by June 13, 2025, and the Bid Price Listing Rule by June 30, 2025 [1]. - The company demonstrated compliance with the Periodic Filing Listing Rule on June 12, 2025, by filing the Form 10-Q for the period ended March 31, 2025 [2]. - A 1-for-85 reverse stock split of its outstanding shares was completed on June 13, 2025, to help meet listing requirements [2]. Group 2: Company Overview - Onconetix, Inc. is a commercial-stage biotechnology company focused on innovative solutions for men's health and oncology [3]. - The company owns Proclarix, an in vitro diagnostic test for prostate cancer, which is approved for sale in the European Union [3].
Onconetix, Inc. Announces 1-for-85 Reverse Stock Split and Results of the Special Meeting of Stockholders
Globenewswire· 2025-06-11 15:30
Core Viewpoint - Onconetix, Inc. has announced a reverse stock split of 1-for-85 shares, approved by stockholders, to regain compliance with Nasdaq's minimum bid price requirement of $1.00 per share, effective June 13, 2025 [1][3][5] Group 1: Reverse Stock Split Details - The reverse stock split will reduce the number of outstanding shares from approximately 44.4 million to about 521,863 [5] - The split will be executed automatically, converting every 85 shares into one share without changing the par value, and no fractional shares will be issued [4] - Fractional shares will be compensated in cash based on the closing price on June 12, 2025 [4] Group 2: Company Overview - Onconetix, Inc. is a commercial-stage biotechnology company focused on men's health and oncology, owning products like Proclarix and ENTADFI [6] - Proclarix is an in vitro diagnostic test for prostate cancer, while ENTADFI is an FDA-approved treatment for benign prostatic hyperplasia [6]