Onconetix, Inc.
Business
Onconetix, Inc. is a commercial-stage biotechnology company focused on research, development, and commercialization of diagnostic and therapeutic solutions for men's health and oncology. The company's lead product is Proclarix, an in vitro diagnostic blood test for prostate cancer approved in the European Union and licensed to LabCorp for U.S. commercialization as a laboratory-developed test. Onconetix also acquired and subsequently abandoned ENTADFI, an FDA-approved combination therapy for benign prostatic hyperplasia. The company operates through its wholly-owned subsidiary Proteomedix and markets Proclarix in selected European laboratories while pursuing reimbursement and broader adoption.
Summary from 10-K filed 2026-03-13
Financials
Consolidated Statement of Income
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Revenue | 800,000 | 3 | 58,465 | — | — | |
| Cost of revenue | 182,458 | 1 | 1 | — | — | |
| Gross profit | 632,913 | 1 | −1 | — | — | |
| Selling, general and administrative | 7 | 11 | 15 | 9 | — | |
| Research and development | −66,133 | 154,359 | — | — | — | |
| Impairment of ENTADFI assets | — | 4 | — | — | — | |
| Impairment of intangibles | — | 10 | — | — | — | |
| Impairment of goodwill | 12 | 32 | — | — | — | |
| Total operating expenses | 18 | 58 | 35 | 13 | 3 | |
| Loss from operations | −18 | −56 | −36 | −13 | −3 | |
| Loss on extinguishment of note payable | −5 | — | −490,000 | — | — | |
| Loss on issuance of preferred stock and warrants | −4 | — | — | — | — | |
| Loss on extinguishment of preferred stock | −196,244 | — | — | — | — | |
| Interest expense related party | — | −534,245 | — | — | — | |
| Interest expense | −751,005 | −873,433 | −671,625 | — | — | |
| Interest income | 2 | 18 | — | — | — | |
| Change in fair value of subscription agreement liability | 3 | −3 | −134,100 | — | — | |
| Change in fair value of contingent warrant liabilities | 16,499 | 1 | — | — | — | |
| Change in fair value of Series D Warrant Liability | 10 | — | — | — | — | |
| Change in fair value of Series D Derivative Liability | −4 | — | — | — | — | |
| Change in fair value of Series E Warrant Liability | 4 | — | — | — | — | |
| Change in fair value of Series E Derivative Liability | −2 | — | — | — | — | |
| Gain on forgiveness of accounts payable | 944,694 | — | — | — | — | |
| Other income | 226,041 | 168,746 | — | 61,410 | — | |
| Total other income (expense) | 4 | −3 | −1 | — | — | |
| Loss before income taxes | −14 | −60 | −37 | — | — | |
| Income tax (expense) benefit | −525 | 1 | 12,593 | — | — | |
| Net loss | −14 | −59 | −37 | −13 | −3 | |
| Deemed dividend Series C preferred stock | −1 | −206,404 | — | — | — | |
| Net loss applicable to common stockholders | −16 | −59 | −37 | −14 | −4 | |
| Net loss per share, basic and diluted (in Dollars per share) | −16.56 | −1,823 | −87.45 | −1.1 | −1.26 | |
| Net loss per share, diluted (in Dollars per share) | −16.56 | −1,823 | −87.45 | −1.1 | −1.26 | |
| Weighted average number of common shares outstanding, basic and diluted (in Shares) | 937,690 | 32,301 | 427,784 | 12 | 3 | |
| Weighted average number of common shares outstanding, diluted (in Shares) | 937,690 | 32,301 | 427,784 | 12 | 3 | |
| Foreign currency translation | 3 | −5 | 2 | — | — | |
| Change in pension benefit obligation | — | 238,010 | — | — | — | |
| Total comprehensive loss | −11 | −64 | −35 | −13 | — |
Consolidated Balance Sheet
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Cash | 5 | 646,500 | 5 | 26 | — | |
| Accounts receivable, net | 300,000 | 25,717 | 149,731 | — | — | |
| Inventories | 149,961 | 64,079 | 364,052 | — | — | |
| Investor receivable, net | 50,000 | — | — | — | — | |
| Prepaid expenses and other current assets | 349,293 | 213,971 | 770,153 | 469,232 | — | |
| Total current assets | 6 | 950,267 | 6 | 26 | 3 | |
| Property and equipment, net | 37,085 | 62,896 | 60,654 | 14,089 | 11,502 | |
| Deferred offering costs | 225,000 | — | 366,113 | — | — | |
| Operating right of use asset | 48,774 | 119,427 | 148,542 | — | — | |
| Goodwill | 19 | 27 | 56 | — | — | |
| Total assets | 25 | 28 | 88 | 26 | 3 | |
| Accounts payable | 2 | 4 | 5 | 1 | 582,605 | |
| Accrued expenses | 341,881 | 888,988 | 2 | 2 | 1 | |
| Notes payable, net of debt discount of $0 and $4,966 at December 31, 2025 and 2024, respectively | — | 9 | 10 | — | — | |
| Operating lease liability, current | 24,412 | 119,427 | 74,252 | — | — | |
| Subscription agreement liability Related Party | — | 4 | 864,000 | — | — | |
| Contingent warrant liabilities | 26,590 | 43,089 | — | — | — | |
| Derivative liabilities | 7 | — | 2,641 | 14,021 | — | |
| Total current liabilities | 9 | 18 | 17 | 4 | 2 | |
| Pension benefit obligation | — | 280,879 | 556,296 | — | — | |
| Operating lease liability, net of current portion | 24,362 | — | 74,290 | — | — | |
| Total liabilities | 9 | 19 | 22 | 4 | 2 | |
| Commitments and Contingencies | — | — | — | — | — | |
| Common stock, $0.00001 par value, 250,000,000 shares authorized at December 31, 2025 and 2024; 1,560,153 and 138,422 the shares issued at December 31, 2025 and 2024, respectively; 1,560,001 and 138,270 shares outstanding at December 31, 2025 and 2024, respectively | 15 | 1 | 6 | 157 | 32 | |
| Additional paid-in capital | 148 | 128 | 49 | 42 | 7 | |
| Treasury stock, at cost; 152 shares of common stock at December 31, 2025 and 2024 | −625,791 | −625,791 | — | — | — | |
| Due from shareholders | — | −250,308 | — | — | — | |
| Accumulated deficit | −131 | −116 | −57 | −19 | −6 | |
| Accumulated other comprehensive loss | −231,028 | −3 | 2 | — | — | |
| Total stockholders equity | 16 | 9 | 1 | 22 | 1 | |
| Total liabilities, convertible preferred stock, and stockholders equity | 25 | 28 | 88 | 26 | 3 |
Consolidated Statement of Cash Flows
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Loss on impairment of ENTADFI | — | 4 | 267,019 | — | — | |
| Amortization of debt discount | 124,084 | 376,660 | 671,373 | — | — | |
| Amortization of debt discount - related party | — | 400,000 | — | — | — | |
| Loss on extinguishment of note payable | 5 | — | — | — | — | |
| Loss on issuance of preferred stock and warrants | 4 | — | — | — | — | |
| Depreciation and amortization | 15,170 | 731,345 | 43,937 | — | — | |
| Net periodic pension benefit cost | −619,399 | −48,423 | — | — | — | |
| Stock-based compensation | 74,267 | 438,653 | 329,760 | 2 | 130,141 | |
| Loss on impairment of inventory of ENTADFI | — | 356,637 | — | — | — | |
| Change in fair value of contingent warrant liabilities | −16,499 | −1 | 91,967 | −61,410 | — | |
| Loss on disposal of property and equipment | 17,283 | — | — | — | 1,199 | |
| Gain on forgiveness of accounts payable | −944,694 | — | — | — | — | |
| Deferred tax benefit | — | −1 | −12,593 | — | — | |
| Amortization of deferred offering costs | — | 366,113 | — | — | — | |
| Gain on settlement of contingent warrant liabilities | — | −5,282 | — | — | — | |
| Accounts receivable | −268,685 | 116,676 | −62,286 | — | — | |
| Inventory | −73,720 | −62,273 | −315,828 | — | — | |
| Investor receivable | −50,000 | — | — | — | — | |
| Prepaid expenses and other assets | −128,360 | 1 | −412,601 | −234,681 | 8,302 | |
| Prepaid expenses, long-term | — | −7,749 | −16,883 | −38,617 | 184,934 | |
| Deferred offering costs | −225,000 | — | — | — | −9,642 | |
| Accounts payable | −1 | −1 | 3 | 1 | 336,715 | |
| Accrued expenses | −580,032 | −1 | −942,075 | 2 | 809,279 | |
| Net cash used in operating activities | −10 | −10 | −14 | −9 | −2 | |
| Purchase of property and equipment | — | −28,471 | −3,300 | −9,339 | −1,924 | |
| Net cash used in investing activities | — | −28,471 | −9 | −32,665 | −1,924 | |
| Proceeds from issuance of notes payable - related party | — | 5 | — | — | — | |
| Proceeds from issuance of notes payable | 1 | — | — | — | — | |
| Payment of financing costs | — | −400,000 | — | — | — | |
| Payment on note payables | −7 | −1 | −1 | — | — | |
| Payment of redemption of Series C Preferred Stock | −2 | — | — | — | — | |
| Proceeds from exercise of preferred investment options, net | — | 922,749 | 2 | — | — | |
| Proceeds from exercise of stock options | — | 163 | 459 | 1,655 | — | |
| Proceeds from exercise of warrants | — | 6,155 | — | 1,436 | — | |
| Proceeds from issuance of Series D Preferred Stock and warrants | 9 | — | — | — | — | |
| Proceeds from issuance of Series E Preferred Stock and warrants | 6 | — | — | — | — | |
| Proceeds from issuance of Series C Preferred Stock and warrants | — | 2 | — | — | — | |
| Proceeds from issuance or sale of common stock | 6 | 685,282 | — | — | — | |
| Cash in lieu of shares | −926 | −718 | — | — | — | |
| Net cash provided by financing activities | 14 | 7 | 1 | 33 | −334,188 | |
| Effect of exchange rate changes on cash | −200,142 | −126,658 | −3,331 | — | — | |
| Net increase (decrease) in cash | 5 | −4 | −21 | 24 | — | |
| Cash paid for interest | 766,330 | 379,409 | — | — | — | |
| Recognition of contingent warrant liability | — | 157,720 | 25,837 | — | — | |
| Conversion of Series B Preferred Stock to common stock | — | 64 | — | — | — | |
| Conversion of Series C preferred stock to common stock | 801,241 | — | — | — | — | |
| Recognition of Series D warrant liabilities | 15 | — | — | — | — | |
| Recognition of Series D derivative liabilities | 772,000 | — | — | — | — | |
| Recognition of Series D preferred stock | 6 | — | — | — | — | |
| Recognition of Series E warrant liabilities | 7 | — | — | — | — | |
| Recognition of Series E derivative liabilities | 865,000 | — | — | — | — | |
| Reclassification of Series D warrant liabilities to equity | 4 | — | — | — | — | |
| Reclassification of Series E warrant liabilities to equity | 2 | — | — | — | — | |
| Series C preferred stock exchanged for Series D preferred stock | 246,227 | — | — | — | — | |
| Settlement of note payable through issuance of Series D preferred stock | 3 | — | — | — | — | |
| Settlement of related party note payable and accrued interest through issuance of common stock | — | 5 | — | — | — | |
| Establishment of operating right-of-use asset | — | 87,864 | — | — | — | |
| Conversion to equity of non-controlling interest | — | 7 | — | — | — | |
| D&O insurance premium financed | — | 678,548 | — | — | — | |
| Receivable from shareholders for shares issued | — | 250,308 | — | — | — | |
| Measurement Period Adjustments from Proteomedix acquisition | — | 10 | — | — | — | |
| Adjustment to redeemable Series C preferred stock | — | 125,000 | — | — | — | |
| Deemed dividend Series C preferred stock | 409,510 | 206,404 | — | — | — |
Filings
Material Events
Insiders
Institutional Holders
Frequently asked questions
What is Onconetix, Inc.'s CIK number?
Onconetix, Inc.'s SEC CIK number is 0001782107 (1782107). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find Onconetix, Inc.'s SEC filings?
All of Onconetix, Inc.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.