aibioOnconetix to effect 1-for-10 reverse stock split on May 21, 2026
Tickers ONCO
The Board fixed the ratio under a stockholder authority approved April 30, 2026, to help keep the stock above Nasdaq's $1.00 minimum bid price.
Key facts
- Company
- Oncopeptides AB (OMXSTO: ONCO)
- News type
- Listings
- Primary source
- Onconetix press release
Onconetix, Inc. announced on May 19, 2026 that its Board of Directors has approved a 1-for-10 reverse stock split of its outstanding common stock. The split takes effect at 12:01 a.m. Eastern Time on May 21, 2026, and the stock will trade on a split-adjusted basis when the market opens that day. The company says the split is intended to help it keep meeting the Nasdaq minimum bid price requirement of $1.00 per share for continued listing on The Nasdaq Capital Market.
The split
At the effective time, every 10 issued and outstanding shares of common stock will be converted automatically into one share, with no change in par value. The company says the split will reduce the number of outstanding shares from approximately 11.4 million to approximately 1.14 million. The release also says the split will have no effect on the number of authorized shares, and that each stockholder's ownership percentage will stay the same except for the effect of fractional shares.
No fractional shares will be issued. Holders of fractional shares will receive cash, calculated by multiplying the fractional share by the closing price on the trading day before the effective date, which is May 21, 2026.
The split also applies to shares issuable on exercise or conversion of equity awards, convertible preferred stock and warrants, and to the applicable exercise prices.
The approval behind the split
The release explains that on April 30, 2026, Onconetix held a special meeting of stockholders. At that meeting, stockholders approved a proposal to effect one or more reverse splits at a ratio in the range of 1-for-2 to 1-for-10. The approval runs until the one-year anniversary of the special meeting. The ratio is set by the Board without further stockholder approval, provided the company does not effect reverse stock splits that, in the aggregate, exceed 1-for-100.
The release says the Board has since determined to fix the split ratio at 1-for-10.
Listing status
The release says the company's common stock will continue to trade on The Nasdaq Capital Market under the symbol ONCO after the split. It states that the split is intended to enable the company to maintain compliance with the minimum bid price requirement of $1.00 per share. The release also refers to the company's ability to comply with the continued listing requirements of the Nasdaq Stock Market, LLC, as one of the factors that could cause actual results to differ from forward-looking statements.
The company
The company's annual report on Form 10-K, filed March 13, 2026, describes Onconetix as a commercial stage biotechnology company focused on men's health and oncology. Its main product is Proclarix, an in vitro diagnostic test for prostate cancer, approved for sale in the European Union. The annual report says the company anticipates marketing Proclarix in the U.S. as a lab developed test through its license agreement with LabCorp.
The annual report also says the company abandoned commercialization of ENTADFI and no longer holds remaining inventory of that product as of December 31, 2025. It says the company will continue to require significant additional capital to commercialize Proclarix and to fund operations.
Recent financial data
The XBRL data that accompanies the company's annual report states the following figures. For the fiscal year ended December 31, 2025, the company reported revenue of $815,371, a net loss of $14.0 million, and cash from operations of negative $9.7 million. For the fiscal year ended December 31, 2024, it reported revenue of $2.5 million, a net loss of $58.7 million, and cash from operations of negative $10.5 million.
The risks ahead
The split takes effect May 21, 2026. It changes the share count, not the business: the release says it is meant to help the company keep meeting the $1.00 minimum bid price, and it lists the ability to meet Nasdaq continued listing requirements as a risk. The release does not say whether the company expects to regain compliance by a set date. The annual report says Onconetix will keep needing significant additional capital for Proclarix, and the XBRL data shows a net loss of $14.0 million and cash from operations of negative $9.7 million for 2025. The company has dropped ENTADFI.