Onconetix, Inc. Announces Receipt of Notice from Nasdaq Regarding Late Filing of Quarterly Report on Form 10-Q and Subsequent Filing
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.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
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.
Positive
- FDA-approved product ENTADFI in portfolio
- EU-approved Proclarix® diagnostic test for prostate cancer
- Prompt resolution of filing delay within 4 days
Negative
- Violation of Nasdaq listing requirements due to late Q3 2024 filing
- Risk of potential delisting if compliance issues persist
Details
News Market Reaction – ONCO
The recorded move for ONCO in the trading session of this news was -13.92%.
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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: investors@onconetix.com
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