Onconetix Delisted from Nasdaq, Files 8-K/A Amendment
Ticker: ONCO · Form: 8-K/A · Filed: Oct 9, 2024 · CIK: 1782107
Sentiment: bearish
Topics: delisting, amendment, compliance
TL;DR
Nasdaq kicked Onconetix off the exchange, filing confirms.
AI Summary
Onconetix, Inc. filed an amendment (8-K/A) on October 9, 2024, to its Form 8-K dated September 18, 2024. This amendment primarily addresses the company's failure to meet the continued listing requirements of the Nasdaq Capital Market, leading to its delisting. The filing also includes information regarding unregistered sales of equity securities and material modifications to security holder rights.
Why It Matters
This filing confirms Onconetix's delisting from the Nasdaq Capital Market, which will significantly impact its stock liquidity and investor access.
Risk Assessment
Risk Level: high — Delisting from a major exchange like Nasdaq significantly increases risk due to reduced liquidity and investor confidence.
Key Players & Entities
- Onconetix, Inc. (company) — Filer of the 8-K/A
- Nasdaq Capital Market (company) — Exchange from which the company was delisted
- September 18, 2024 (date) — Date of the original Form 8-K
- October 9, 2024 (date) — Date of the 8-K/A filing
FAQ
What is the primary reason for Onconetix, Inc. filing an 8-K/A?
Onconetix, Inc. filed an 8-K/A to amend its previous Form 8-K, primarily to report its failure to meet the continued listing requirements of the Nasdaq Capital Market and its subsequent delisting.
When was the original Form 8-K filed, and when was the amendment filed?
The original Form 8-K was dated September 18, 2024, and the amendment (8-K/A) was filed on October 9, 2024.
What were the consequences of failing to meet Nasdaq's listing requirements?
The consequence was the delisting of Onconetix, Inc. from the Nasdaq Capital Market.
Besides delisting, what other events are mentioned in the 8-K/A?
The 8-K/A also mentions unregistered sales of equity securities and material modifications to the rights of security holders.
What was Onconetix, Inc.'s former name?
Onconetix, Inc. was formerly known as Blue Water Biotech, Inc. (name change effective April 24, 2023) and before that, Blue Water Vaccines Inc. (name change effective July 10, 2019).
Filing Stats: 1,935 words · 8 min read · ~6 pages · Grade level 13.5 · Accepted 2024-10-09 17:16:18
Key Financial Figures
- $0.00001 — h registered Common Stock, par value $0.00001 per share ONCO The Nasdaq Stock Mar
- $1.00 b — mpany's non-compliance with the minimum $1.00 bid price requirement set forth in Nasdaq
- $2.5 million — ) the Company's non-compliance with the $2.5 million stockholders' equity requirement set fo
- $4.00 m — Nasdaq Listing Rule 5110, including the $4.00 minimum closing bid price requirement and
- $5.0 million — nimum closing bid price requirement and $5.0 million minimum stockholders' equity requiremen
- $0.04 — of Common Stock at an exercise price of $0.04 per share. The Warrants are immediately
Filing Documents
- ea0217249-8ka1_onconetix.htm (8-K/A) — 56KB
- 0001213900-24-086655.txt ( ) — 235KB
- onco-20240918.xsd (EX-101.SCH) — 3KB
- onco-20240918_lab.xml (EX-101.LAB) — 33KB
- onco-20240918_pre.xml (EX-101.PRE) — 22KB
- ea0217249-8ka1_onconetix_htm.xml (XML) — 4KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Onconetix, Inc. October 9, 2024 By: /s/ Karina M. Fedasz Name: Karina M. Fedasz Title: Interim Chief Financial Officer 5