Onconetix Faces Delisting Concerns

Ticker: ONCO · Form: 8-K · Filed: 2025-01-24T00:00:00.000Z

Sentiment: bearish

Topics: delisting, listing-standards, corporate-actions

TL;DR

Onconetix might get delisted, former names include Blue Water Biotech.

AI Summary

Onconetix, Inc. filed an 8-K on January 24, 2025, reporting a notice of delisting or failure to satisfy a continued listing rule or standard, with the effective date of the event being January 23, 2025. The company was formerly known as Blue Water Biotech, Inc. and Blue Water Vaccines Inc.

Why It Matters

This filing indicates potential issues with Onconetix, Inc.'s continued listing on an exchange, which could impact its stock trading and investor confidence.

Risk Assessment

Risk Level: high — A notice of delisting or failure to meet listing standards is a significant negative event for a publicly traded company.

Key Players & Entities

FAQ

What specific rule or standard has Onconetix, Inc. failed to satisfy?

The filing states that Onconetix, Inc. received a notice of delisting or failure to satisfy a continued listing rule or standard, but does not specify the exact rule or standard in the provided text.

When was the earliest event reported in this 8-K filing?

The earliest event reported is dated January 23, 2025.

What is the filing date of this 8-K report?

This 8-K report was filed on January 24, 2025.

What were the previous names of Onconetix, Inc.?

Onconetix, Inc. was formerly known as Blue Water Biotech, Inc. and Blue Water Vaccines Inc.

Where are Onconetix, Inc.'s principal executive offices located?

Onconetix, Inc.'s principal executive offices are located at 201 E. Fifth Street, Suite 1900, Cincinnati, Ohio 45202.

Filing Stats: 792 words · 3 min read · ~3 pages · Grade level 13 · Accepted 2025-01-24 16:35:12

Key Financial Figures

Filing Documents

01. Notice of Delisting or Failure to Satisfy a Continued

Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On January 23, 2025, Onconetix, Inc. (the "Company") received a letter from the Listing Qualifications Staff of The Nasdaq Stock Market LLC ("Nasdaq") indicating that, based upon the closing bid price of the Company's common stock, par value $0.00001 per share ("Common Stock"), from November 25, 2024 to January 10, 2025, the Company is no longer in compliance with the requirement for continued listing on The Nasdaq Capital Market to maintain a minimum bid price of $1.00 per share, as set forth in Nasdaq Listing Rule 5550(a)(2) (the "Notice"). The Notice has no immediate effect on the continued listing status of the Company's Common Stock on The Nasdaq Capital Market, and, therefore, the Company's listing remains fully effective. The Company is provided a compliance period of 180 calendar days from the date of the Notice, or until July 22, 2025, to regain compliance with the minimum closing bid requirement, pursuant to Nasdaq Listing Rule 5810(c)(3)(A). If at any time before July 22, 2025, the closing bid price of the Company's Common Stock closes at or above $1.00 per share for a minimum of 10 consecutive business days, subject to Nasdaq's discretion to extend this period pursuant to Nasdaq Listing Rule 5810(c)(3)(H), Nasdaq will provide written notification that the Company has achieved compliance with the minimum bid price requirement, and the matter would be resolved. If the Company does not regain compliance during the compliance period ending July 22, 2025, then Nasdaq may grant the Company a second 180 calendar day period to regain compliance, provided, among other things, the Company meets the continued listing requirement for market value of publicly-held shares and all other initial listing standards for The Nasdaq Capital Market, other than the minimum closing bid price requirement, and notifies Nasdaq of its intent to cure the deficiency. T

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