Onconetix Secures Funding to Enhance Operations and Growth

Onconetix ( (ONCO) ) just unveiled an update.

Onconetix, Inc., a Delaware-based company, has successfully completed a PIPE Financing round, selling 3,499 shares of its Series C convertible preferred stock and warrants to purchase additional common stock, resulting in $2.0 million in cash proceeds. This strategic move was accompanied by the establishment of a $25 million equity line of credit, empowering the company with significant capital to potentially expand operations and pursue growth opportunities. The funds from the PIPE Financing are earmarked for general corporate purposes and working capital, signifying a robust step forward for the company’s financial health and operational capabilities.

For detailed information about ONCO stock, go to TipRanks’ Stock Analysis page.