Onconetix, Inc. received a Nasdaq deficiency notice for not filing its 10-Q but has since complied.
Quiver AI Summary
Onconetix, Inc. announced that it received a notice from Nasdaq on December 6, 2024, regarding its failure to file the Quarterly Report on Form 10-Q for the period ending September 30, 2024, which violates Nasdaq's listing rules. The company subsequently filed the required Form 10-Q with the SEC on December 10, 2024. This announcement adheres to Nasdaq's requirements for disclosing deficiencies promptly. Onconetix is a biotechnology company focused on men's health and oncology, notably owning Proclarix®, a prostate cancer diagnostic test approved in the EU, and ENTADFI, an FDA-approved medication for benign prostatic hyperplasia.
Potential Positives
- The Company has successfully filed its delayed Quarterly Report on Form 10-Q with the SEC, addressing Nasdaq's concerns about compliance with listing requirements.
- The announcement demonstrates transparency and compliance with Nasdaq Listing Rule 5810(b), reflecting the Company's commitment to regulatory obligations.
- Onconetix's focus on men's health and oncology, along with its recent acquisition of Proteomedix, highlights its growth potential and innovative product offerings in the healthcare market.
- The approval of ENTADFI by the FDA signifies a significant milestone for the Company in the treatment of benign prostatic hyperplasia (BPH), enhancing its portfolio in men's health solutions.
Potential Negatives
- The company has violated Nasdaq's continued listing requirements, indicating potential financial instability or operational challenges.
- Failure to file a Quarterly Report on Form 10-Q raises concerns about the company’s compliance and financial reporting practices.
- This situation could lead to further regulatory scrutiny or delisting from Nasdaq if not addressed promptly.
FAQ
Why did Onconetix receive a letter from Nasdaq?
Onconetix received a letter from Nasdaq due to failure to file its Quarterly Report on Form 10-Q for the period ended September 30, 2024.
What is the significance of the Form 10-Q filing?
The Form 10-Q filing is essential for compliance with Nasdaq's continued listing requirements, ensuring transparency and timely financial reporting.
What actions did Onconetix take after receiving the Nasdaq letter?
Onconetix filed the Form 10-Q with the Securities and Exchange Commission on December 10, 2024, addressing the deficiency noted by Nasdaq.
What does Onconetix specialize in?
Onconetix is focused on researching, developing, and commercializing innovative solutions for men's health and oncology, including diagnostics and treatment options.
What products does Onconetix offer?
Onconetix offers Proclarix®, an in vitro diagnostic test for prostate cancer, and ENTADFI, an FDA-approved treatment for benign prostatic hyperplasia.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$ONCO Hedge Fund Activity
We have seen 2 institutional investors add shares of $ONCO stock to their portfolio, and 21 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- CETERA INVESTMENT ADVISERS removed 320,000 shares (-100.0%) from their portfolio in Q3 2024
- ZURCHER KANTONALBANK (ZURICH CANTONALBANK) removed 306,079 shares (-100.0%) from their portfolio in Q3 2024
- BANK OF AMERICA CORP /DE/ removed 125,134 shares (-100.0%) from their portfolio in Q3 2024
- SUSQUEHANNA INTERNATIONAL GROUP, LLP removed 113,681 shares (-100.0%) from their portfolio in Q3 2024
- TWO SIGMA SECURITIES, LLC removed 113,434 shares (-100.0%) from their portfolio in Q2 2024
- HRT FINANCIAL LP removed 104,594 shares (-100.0%) from their portfolio in Q3 2024
- FIFTH THIRD BANCORP removed 96,196 shares (-100.0%) from their portfolio in Q3 2024
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
Cincinnati, OH, Dec. 12, 2024 (GLOBE NEWSWIRE) -- Onconetix, Inc. (NASDAQ: ONCO) (the “Company”) announced that it received a letter from The Nasdaq Capital Market (“Nasdaq”) on December 6, 2024 indicating that the Company’s failure to file its Quarterly Report on Form 10-Q for the period ended September 30, 2024 (the “Form 10-Q”) is in violation of Nasdaq’s continued listing requirements under Nasdaq Listing Rule 5250(c)(1) (the “Rule”).
On December 10, 2024, the Company filed the Form 10-Q with the Securities and Exchange Commission.
This announcement is made in compliance with Nasdaq Listing Rule 5810(b), which requires prompt disclosure of receipt of a deficiency notification.
About Onconetix, Inc.:
Onconetix is a commercial stage biotechnology company focused on the research, development and commercialization of innovative solutions for men’s health and oncology. Through our recent acquisition of Proteomedix, we own Proclarix®, an in vitro diagnostic test for prostate cancer originally developed by Proteomedix and approved for sale in the European Union (“EU”) under the In Vitro Diagnostic Regulation (“IVDR”). We also own ENTADFI, an FDA-approved, once daily pill that combines finasteride and tadalafil for the treatment of benign prostatic hyperplasia (“BPH”), a disorder of the prostate. For more information, visit www.onconetix.com .
Contact Information:
Onconetix, Inc.
201 E. Fifth Street, Suite 1900
Cincinnati, OH 45202
Phone: (513) 620-4101
Investor Contact Information:
Onconetix Investor Relations
Email:
[email protected]
