Form 8-K - Current report
May 13 2024 - 4:45PM
Edgar (US Regulatory)
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0001782107
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2024-05-08
2024-05-08
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934
Date of Report (Date of earliest event reported):
May 8, 2024
Onconetix, Inc.
(Exact name of registrant as specified in its charter)
Delaware |
|
001-41294 |
|
83-2262816 |
(State or other Jurisdiction
of Incorporation) |
|
(Commission File Number) |
|
(IRS Employer
Identification No.) |
201 E. Fifth Street, Suite 1900
Cincinnati, Ohio |
|
45202 |
(Address of Principal Executive Offices) |
|
(Zip Code) |
Registrant’s telephone number, including
area code: (513) 620-4101
(Former name or former address, if changed since
last report.)
Check the appropriate box below if the Form 8-K
filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ | Written communications pursuant
to Rule 425 under the Securities Act (17 CFR 230.425) |
☐ | Soliciting material pursuant to
Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
☐ | Pre-commencement communications
pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
☐ | Pre-commencement communications
pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b)
of the Act:
Title of Each Class |
|
Trading Symbol(s) |
|
Name of Each Exchange on Which Registered |
Common Stock, par value $0.00001 per share |
|
ONCO |
|
The Nasdaq Stock Market LLC |
Indicate by check mark whether the registrant
is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule
12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company ☒
If an emerging growth company, indicate by check
mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting
standards provided pursuant to Section 13(a) of the Exchange Act.
Item 3.01. Notice of Delisting or Failure to
Satisfy a Continued Listing Rule or Standard; Transfer of Listing
On May 8, 2024, Onconetix, Inc. (the “Company”)
received a deficiency notice (the “Notice”) from The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company
that it is not in compliance with Nasdaq’s continued listing standards (the “Listing Rules”) as set forth in Listing
Rule 5550(b)(1), which requires Nasdaq-listed companies to maintain a minimum of $2,500,000 in stockholders’ equity for continued
listing (the “Minimum Stockholders’ Equity Requirement”), because the Company’s stockholders’ equity for
the fiscal year ended December 31, 2023 as reported in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange
Commission on April 1, 2024 was $1,404,476, and as of the date of the Notice, the Company did not meet the alternatives to the Minimum
Stockholders’ Equity Requirement of having either (i) a market value of listed securities of at least $35 million or (ii) net income
from continuing operations of at least $500,000 in the fiscal year ended December 31, 2023 or in two of the three most recently completed
fiscal years. The Notice received has no immediate effect on the Company’s Nasdaq listing.
Consistent with the Listing Rules, the Company
has 45 calendar days from the date of the Notice, or until June 24, 2024, to provide Nasdaq with a specific plan to achieve and sustain
compliance with the Listing Rules. If Nasdaq accepts the Company’s plan, Nasdaq can grant an exception of up to 180 calendar days
from the date of the Notice, or until November 4, 2024, to regain compliance. However, there can be no assurance that Nasdaq will accept
the Company’s plan to regain compliance or that, should Nasdaq accept the Company’s plan, the Company will be able to regain
compliance within any extension period granted by Nasdaq. If Nasdaq does not accept the Company’s plan, the Company will have the
opportunity to appeal that decision to a Hearing Panel under Nasdaq Listing Rule 5815(a). If the Company fails to timely regain compliance
with the Listing Rules (including, to the extent granted by Nasdaq, any applicable extensions of time), the securities of the Company
will be subject to delisting on Nasdaq.
Item 9.01. Financial Statements and Exhibits
(d) Exhibits
Exhibit No. |
|
Description |
104 |
|
Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURE
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|
Onconetix, Inc. |
|
|
|
Date: May 13, 2024 |
By: |
/s/ Bruce Harmon |
|
|
Bruce Harmon |
|
|
Chief Financial Officer |
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May 08, 2024 |
Cover [Abstract] |
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Document Type |
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Document Period End Date |
May 08, 2024
|
Entity File Number |
001-41294
|
Entity Registrant Name |
Onconetix, Inc.
|
Entity Central Index Key |
0001782107
|
Entity Tax Identification Number |
83-2262816
|
Entity Incorporation, State or Country Code |
DE
|
Entity Address, Address Line One |
201 E. Fifth Street
|
Entity Address, Address Line Two |
Suite 1900
|
Entity Address, City or Town |
Cincinnati
|
Entity Address, State or Province |
OH
|
Entity Address, Postal Zip Code |
45202
|
City Area Code |
513
|
Local Phone Number |
620-4101
|
Written Communications |
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Soliciting Material |
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Pre-commencement Tender Offer |
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Pre-commencement Issuer Tender Offer |
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Title of 12(b) Security |
Common Stock, par value $0.00001 per share
|
Trading Symbol |
ONCO
|
Security Exchange Name |
NASDAQ
|
Entity Emerging Growth Company |
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