IPO - Onconetix, Inc.

Form Type: CORRESP

Filing Date: 2025-02-10

Corporate Action: Ipo

Type: New

Accession Number: 000121390025011749

Filing Summary: Onconetix, Inc. submitted a request for acceleration of effectiveness for its Registration Statement on Form S-1, previously filed on January 27, 2025. The acceleration is requested under Rule 461 of the Securities Act of 1933, aiming for the Registration Statement to become effective at 5:00 p.m. EST on February 11, 2025, or as soon thereafter as practicable. This indicates the company's steps toward initiating an initial public offering (IPO) process.

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Form Type: S-1/A

Filing Date: 2025-02-07

Corporate Action: Ipo

Type: Update

Accession Number: 000121390025011380

Filing Summary: Onconetix, Inc. has filed Amendment No. 1 to its Form S-1 registration statement on February 7, 2025, to register an aggregate of up to 50,000,000 shares of common stock selling by Keystone Capital Partners, LLC, under an equity line of credit (ELOC) Purchase Agreement. The shares are intended to be sold at a price approximating $0.44 per share, depending on market conditions. The company expects to raise up to $25 million in aggregate gross proceeds through this agreement, with no proceeds being received by Onconetix from the sale of shares. The registration statement aims to facilitate a delayed or continuous offering under Rule 415 of the Securities Act, noting that Onconetix operates as a biotechnology company focused on healthcare solutions related to men's health and oncology. They have developed Proclarix, an in vitro diagnostic test for prostate cancer, and paused commercialization of ENTADFI due to cash constraints, with plans to seek strategic alternatives for its sale. However, they acknowledge substantial doubts regarding their ability to continue as a going concern without additional capital. The company is classified as a non-accelerated filer and an emerging growth company, indicating it has opted out of certain financial standards transition periods.

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Form Type: S-1

Filing Date: 2025-01-27

Corporate Action: Ipo

Type: New

Accession Number: 000121390025006626

Filing Summary: Onconetix, Inc. filed a registration statement with the SEC on January 24, 2025, under the Securities Act of 1933 for a public offering of up to 50 million shares of common stock. The shares are intended to be sold by Keystone Capital Partners, LLC, as the selling stockholder, under an equity line of credit established on October 2, 2024. The anticipated effective date of the registration statement is not specified, but securities may be offered on a delayed or continuous basis. The filing indicates that Onconetix is focusing on the commercialization of its diagnostic product Proclarix for prostate cancer, acquired through the recent purchase of Proteomedix, as well as difficulties in commercializing the product ENTADFI. The company has incurred significant losses and is in a working capital deficit as of September 30, 2024. It emphasizes the need for additional capital to support its operations and commercial endeavors and acknowledges uncertainties in achieving profitability, potentially raising doubts about its ability to continue operations. Furthermore, the latest share price mentioned before the filing was $0.49, reflecting the current market conditions of their common stock listed on NASDAQ.

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Form Type: CORRESP

Filing Date: 2024-11-12

Corporate Action: Ipo

Type: New

Accession Number: 000121390024096417

Filing Summary: Onconetix, Inc. submitted a request for acceleration of the effectiveness of its Registration Statement on Form S-1, initially filed on November 1, 2024, under File No. 333-282958. The company is seeking for the Registration Statement to become effective at 4:00 p.m. EST on November 12, 2024, or as soon as practicable thereafter. This action indicates the company's advancement towards an initial public offering (IPO).

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Form Type: CORRESP

Filing Date: 2024-11-12

Corporate Action: Ipo

Type: Update

Accession Number: 000121390024096519

Filing Summary: Onconetix, Inc. submitted a correspondence to the U.S. Securities and Exchange Commission regarding its Registration Statement on Form S-1, initially filed on November 1, 2024. The letter requests the withdrawal of the previously made request for acceleration of the effective date of the Registration Statement, which was originally set for November 12, 2024, at 4:00 p.m. Eastern Time, in accordance with Rule 461 of the Securities Act of 1933. The company's Interim Chief Executive Officer, Ralph Schiess, communicates this update and provides contact information for inquiries.

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