Onconetix Sets 1-for-10 Reverse Stock Split, Effective Nov. 6

Onconetix (Nasdaq: ONCO) has carried out a 1-for-10 reverse stock split, effective at 12:01 a.m. Eastern Time on Nov. 6, the company said in an 8-K filed Monday, Nov. 9.

The Board of Directors approved the split on Oct. 22, under authority granted by stockholders at a special meeting held on April 30, 2026. The company filed a Certificate of Amendment with the Delaware Secretary of State on Nov. 4. Under the amendment, every ten shares of common stock were automatically combined into one share.

Share count and trading

The number of outstanding common shares fell from about 6.7 million to about 670,000. The common stock began trading on a split-adjusted basis on The Nasdaq Capital Market on Nov. 6. The ticker remains ONCO, but the stock now has a new CUSIP number, 68237Q500.

Fractional shares

The company did not issue fractional shares. Stockholders who would otherwise have received a fraction of a share will instead receive a cash payment, without interest, equal to that fraction multiplied by the closing sale price on the trading day before the Effective Time, adjusted for the split.

Proportional adjustments were also made to outstanding equity awards, convertible preferred stock and warrants, including their exercise or conversion prices. The filing does not state the company's reason for the split. The full text of the amendment is filed as Exhibit 3.1 to the 8-K.