--- title: "Onconetix delays 10-K as cash falls to $0.6 million at year end" url: "https://aibio.space/news/onconetix-delays-10-k-cash-falls-0-6-million-year-end/" publisher: "aibio.space (Biotech Investor Relations News)" date: "2025-04-01" section: "Distress" tickers: "OMXSTO:ONCO" source: "https://www.sec.gov/Archives/edgar/data/1782107/000121390025026781/ea0236536-nt10k_onconetix.htm" summary: "The company expects to file within the 15-day grace period. Its cash was about $4.6 million at the end of 2023." --- By the aibio.space news desk. Sources - [Onconetix, Inc. NT 10-K (2025-04-01)](https://www.sec.gov/Archives/edgar/data/1782107/000121390025026781/ea0236536-nt10k_onconetix.htm) [ONCO](https://aibio.space/companies/oncopeptides/) 2025-04-01 # Onconetix delays 10-K as cash falls to $0.6 million at year end Tickers [ONCO](https://aibio.space/companies/oncopeptides/) The company expects to file within the 15-day grace period. Its cash was about $4.6 million at the end of 2023. ## Key facts - **Company**: Oncopeptides AB (OMXSTO: ONCO) - **News type**: Distress - **Primary source**: [Onconetix, Inc. NT 10-K (2025-04-01)](https://www.sec.gov/Archives/edgar/data/1782107/000121390025026781/ea0236536-nt10k_onconetix.htm) *Marble steps and columns of a supreme court building. CC0, via rawpixel. The picture shows the field, not the companies named.* Onconetix, Inc. (Nasdaq: [ONCO](https://aibio.space/companies/oncopeptides/)) said it needs more time to finish the financial statements for its annual report on Form 10-K for the year ended December 31, 2024. In a notification of late filing dated April 1, 2025, the Cincinnati, Ohio company said it expects to file within the 15-day grace period allowed by Rule 12b-25 under the Securities Exchange Act of 1934. The notice gives the reason as the time needed to finalize the financial statements. It does not describe a specific accounting problem. ## What the preliminary figures show The notice gives preliminary year-end figures, and they show a company with much less cash. Cash fell to $0.6 million at December 31, 2024, from about $4.6 million a year earlier. Goodwill dropped from about $55.7 million to $16.5 million, and intangible assets fell from $25.4 million to about $20 million. The notice does not say why they fell. On the liability side, current notes payable were about $9.3 million at year-end 2024, down from $9.6 million. Two new current liabilities appeared. A subscription agreement liability rose from zero to about $4.1 million, and a contingent warrant liability rose from $2,000 to about $3.9 million. The notice does not explain either item. Accounts payable fell to $3.8 million from about $5.3 million, and accrued expenses fell to $0.9 million from about $2.2 million. Accounts receivable fell from $0.1 million to approximately $30,000, and inventory from $0.4 million to approximately $60,000. The notice answers yes when asked whether all other periodic reports for the past 12 months have been filed. It also answers yes when asked whether a significant change in results is expected from the prior year, and the balance sheet changes listed above are the company's own description of that change. ## Amounts still open The company says the amounts are still under review by its independent registered public accounting firm and by its accounting staff. It warns that the figures may differ once they appear in the 10-K. Any change could alter the picture of cash, goodwill or the new liabilities, so the notice's numbers should be read as preliminary. ## What the filing does not say The notice is signed by Karina Fedasz, interim chief financial officer. It does not give a date for the 10-K, a reason for the drop in goodwill or intangibles, or the terms of the subscription agreement and the warrants behind the two new liabilities. The notice also does not say whether Nasdaq has contacted the company about the late filing. A late annual report is the kind of event that can lead to a listing notice, but this document does not show whether one has been issued. ## Why the timing matters With $0.6 million of cash at year-end and about $9.3 million of current notes payable, the company's finances are tight by the figures in the notice. The late filing adds a second issue: the 10-K will be the first full audited view of the year, and the auditor has not yet signed off on these numbers. Until it does, the company's reported liquidity and its ability to meet the current debt cannot be confirmed from the notice alone. The notice gives only the year-end balances and the changes listed above. It does not provide a cash flow statement, so the cash used during 2024 cannot be read from it directly. [Report an error](https://aibio.space/reputation/#correction) ## Companies in this story ONCO Oncopeptides AB OMXSTO ยท Sweden Open the starter desk ## More in Distress Distress ### [Mineralys takes ownership of lorundrostat patents but keeps Tanabe milestone debts](https://aibio.space/news/mineralys-takes-ownership-lorundrostat-patents-but-keeps-tanabe/) Oct 29, 2026 Distress ### [Bristol Myers Squibb drops Prothena's PRX019, ending up to $617.5 million in milestones](https://aibio.space/news/bristol-myers-squibb-drops-prothenas-prx019-ending-up-617-5-million/) Oct 29, 2026 Distress ### [LENZ Therapeutics reorganizes to cut 2027 operating expenses by more than 50%](https://aibio.space/news/lenz-therapeutics-reorganizes-cut-2027-operating-expenses-more-50/) Oct 28, 2026 --- Source page: https://aibio.space/news/onconetix-delays-10-k-cash-falls-0-6-million-year-end/. Facts in aibio.space stories are checked against company filings and releases; opinion is labelled. Cite as: aibio.space, "Onconetix delays 10-K as cash falls to $0.6 million at year end", 2025-04-01, https://aibio.space/news/onconetix-delays-10-k-cash-falls-0-6-million-year-end/