--- title: "Onconetix files NT 10-K late filing notice" url: "https://aibio.space/news/onconetix-files-nt-10-k-late-filing-notice-says-cash-fell-0-6-million/" 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: "Onconetix needs more time to finalize its 2024 financial statements and expects to file within the fifteen-day grace period. It flagged lower cash, goodwil" --- By the aibio.space news desk. Sources - [Onconetix, Inc. Form NT 10-K filed April 1, 2025 (SEC EDGAR)](https://www.sec.gov/Archives/edgar/data/1782107/000121390025026781/ea0236536-nt10k_onconetix.htm) - [Onconetix Form 10-K filed April 11, 2024](https://www.sec.gov/Archives/edgar/data/1782107/000121390024032225/ea0201701-10k_onconetix.htm) [ONCO](https://aibio.space/companies/oncopeptides/) 2025-04-01 # Onconetix files NT 10-K late filing notice, says cash fell to $0.6 million at year end Tickers [ONCO](https://aibio.space/companies/oncopeptides/) Onconetix needs more time to finalize its 2024 financial statements and expects to file within the fifteen-day grace period. It flagged lower cash, goodwill and intangibles, and new subscription and warrant liabilities. ## Key facts - **Company**: Oncopeptides AB (OMXSTO: ONCO) - **News type**: Distress - **Primary source**: [Onconetix, Inc. Form NT 10-K filed April 1, 2025 (SEC EDGAR)](https://www.sec.gov/Archives/edgar/data/1782107/000121390025026781/ea0236536-nt10k_onconetix.htm) *Stone columns of a government building. Photo: The Building Envelope, CC0, via StockSnap. The picture shows the field, not the companies named.* Onconetix, Inc. (Nasdaq: [ONCO](https://aibio.space/companies/oncopeptides/)) told the Securities and Exchange Commission on April 1, 2025 that it cannot file its annual report on Form 10-K for the year ended December 31, 2024 on time. The company filed a [Form NT 10-K](https://www.sec.gov/Archives/edgar/data/1782107/000121390025026781/ea0236536-nt10k_onconetix.htm), a late filing notice, saying it needs additional time to finalize the financial statements. The notice also reports that cash fell to $0.6 million at December 31, 2024, from approximately $4.6 million a year earlier. ## What the notice says An NT 10-K is filed under Rule 12b-25 of the Securities Exchange Act of 1934 when a company expects to miss the due date for a periodic report. Onconetix says it cannot file without unreasonable effort or expense because additional time is needed to finalize the statements. It anticipates filing the 10-K within the fifteen-day grace period that Rule 12b-25 provides. The form states that the report will be filed on or before the fifteenth calendar day following the prescribed due date. The company lists its principal executive office at 201 E. Fifth Street, Suite 1900, Cincinnati, Ohio. It confirmed that all other periodic reports required during the preceding 12 months have been filed. ## Expected changes in the numbers The company checked yes when asked whether it expects a significant change in results of operations from the prior year. It listed these anticipated changes, comparing December 31, 2023 with December 31, 2024: - Cash decreased from approximately $4.6 million to $0.6 million. - Accounts receivable decreased from $0.1 million to approximately $30,000. - Inventory decreased from $0.4 million to approximately $60,000. - Intangible assets decreased from $25.4 million to approximately $20 million. - Goodwill decreased from approximately $55.7 million to $16.5 million. - Accounts payable decreased from approximately $5.3 million to $3.8 million. - Accrued expenses decreased from approximately $2.2 million to $0.9 million. - Notes payable (current) decreased from $9.6 million to approximately $9.3 million. - Subscription agreement liability (current) increased from $0 to approximately $4.1 million. - Contingent warrant liability (current) increased from $2,000 to approximately $3.9 million. The company says these amounts are still under review by its independent registered public accounting firm and accounting staff, and they may change once reported in the Form 10-K. ## Who signed Karina Fedasz, Interim Chief Financial Officer, signed the notice on April 1, 2025, and is the contact person named for questions about it. The annual report filed in April 2024 named Bruce Harmon as Chief Financial Officer, so the notice reflects a change in that role. ## About the company Onconetix describes itself in its [annual report filed April 11, 2024](https://www.sec.gov/Archives/edgar/data/1782107/000121390024032225/ea0201701-10k_onconetix.htm) as a commercial stage biotechnology company focused on innovative solutions for men's health and oncology. Through its acquisition of Proteomedix, it owns Proclarix, an in vitro diagnostic test for prostate cancer. The report says Proclarix is approved for sale in the European Union under the In Vitro Diagnostic Regulation and is expected to be marketed in the United States as a lab developed test through a license agreement with LabCorp. The company also owns ENTADFI, an FDA-approved, once daily pill combining finasteride and tadalafil for the treatment of benign prostatic hyperplasia. It acquired ENTADFI in April 2023. In the third quarter of 2023 it deprioritized its vaccine discovery and development programs, and it now operates in one segment, commercial. That report also listed as a risk that there is substantial doubt about the company's ability to continue as a going concern, and that it will require significant additional capital. The cash and note figures in the late filing notice, with $9.3 million of current notes payable against $0.6 million of cash, sit uneasily with that warning. The report names Ralph Schiess as Interim Chief Executive Officer and Bruce Harmon as Chief Financial Officer. [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-files-nt-10-k-late-filing-notice-says-cash-fell-0-6-million/. Facts in aibio.space stories are checked against company filings and releases; opinion is labelled. Cite as: aibio.space, "Onconetix files NT 10-K late filing notice", 2025-04-01, https://aibio.space/news/onconetix-files-nt-10-k-late-filing-notice-says-cash-fell-0-6-million/