The latest announcement is out from Onconetix ( (ONCO) ).
Onconetix, Inc., a biotech company specializing in men’s health and oncology, has announced a 1-for-40 reverse stock split, approved by stockholders and the Board, effective September 24, 2024. This strategic move aims to ensure compliance with Nasdaq’s minimum bid price requirement and will see the common stock trade under a new CUSIP number post-split. The reverse split is set to reduce the common stock’s issued and outstanding shares significantly, although the exact number of shares will be adjusted to account for additional shares issued under stockholder-approved proposals. No fractional shares will be issued; instead, shareholders will receive cash compensation. This stock consolidation will not affect stockholders’ proportional ownership in the company, except in the case of fractional shares.
For an in-depth examination of ONCO stock, go to TipRanks’ Stock Analysis page.
