Onconetix (ONCO)


Market Price (9/21/2026): $0.6391 | Market Cap: $1.4 MilSector: Health Care | Industry: Biotechnology

Onconetix (ONCO)


Market Price (9/21/2026): $0.6391
Market Cap: $1.4 Mil
Sector: Health Care
Industry: Biotechnology

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -401%

Megatrend and thematic drivers
Megatrends include Aging Population & Chronic Disease, and Precision Medicine. Themes include Oncology Treatments, Targeted Therapies, Show more.

Weak multi-year price returns
2Y Excs Rtn is -136%, 3Y Excs Rtn is -171%

Penny stock
Mkt Price is 0.6

Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -7.7 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -1190%

Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -51%, Rev Chg QQuarterly Revenue Change % is -84%

Not cash flow generative
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -1596%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -1596%

Valuation getting more expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 74%

Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -714%

High stock price volatility
Vol 12M is 163%

Key risks
ONCO key risks include [1] a critical cash shortage and going concern risk, Show more.

0 Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -401%
1 Megatrend and thematic drivers
Megatrends include Aging Population & Chronic Disease, and Precision Medicine. Themes include Oncology Treatments, Targeted Therapies, Show more.
2 Weak multi-year price returns
2Y Excs Rtn is -136%, 3Y Excs Rtn is -171%
3 Penny stock
Mkt Price is 0.6
4 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -7.7 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -1190%
5 Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -51%, Rev Chg QQuarterly Revenue Change % is -84%
6 Not cash flow generative
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -1596%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -1596%
7 Valuation getting more expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 74%
8 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -714%
9 High stock price volatility
Vol 12M is 163%
10 Key risks
ONCO key risks include [1] a critical cash shortage and going concern risk, Show more.

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 9/14/2026

Onconetix (ONCO) stock has lost about 45% since 5/31/2026 because of the following key factors:

1. Continued Deterioration in Financial Performance.

Onconetix reported significantly declining sales and persistent net losses for its fiscal second quarter ended June 30, 2026. The company's sales for fiscal Q2 2026 were $0.01712 million, a substantial decrease from $0.106494 million in fiscal Q2 2025. Concurrently, the net loss widened to $2.87 million in fiscal Q2 2026, compared to a net loss of $2.37 million in the prior year's same quarter. Over the trailing 12 months ending June 30, 2026, Onconetix experienced a 51.3% decrease in revenue to $645,824.

2. Execution of a Reverse Stock Split.

Onconetix implemented a 1-for-10 reverse stock split on May 19, 2026. While often intended to increase share price and meet listing requirements, reverse stock splits can sometimes signal underlying financial instability and can be met with negative investor sentiment, contributing to further stock depreciation despite the nominal price increase.

Show more
Updated on 9/14/2026

Onconetix (ONCO) stock has lost about 45% since 5/31/2026 because of the following key factors:

1. Continued Deterioration in Financial Performance.

Onconetix reported significantly declining sales and persistent net losses for its fiscal second quarter ended June 30, 2026. The company's sales for fiscal Q2 2026 were $0.01712 million, a substantial decrease from $0.106494 million in fiscal Q2 2025. Concurrently, the net loss widened to $2.87 million in fiscal Q2 2026, compared to a net loss of $2.37 million in the prior year's same quarter. Over the trailing 12 months ending June 30, 2026, Onconetix experienced a 51.3% decrease in revenue to $645,824.

2. Execution of a Reverse Stock Split.

Onconetix implemented a 1-for-10 reverse stock split on May 19, 2026. While often intended to increase share price and meet listing requirements, reverse stock splits can sometimes signal underlying financial instability and can be met with negative investor sentiment, contributing to further stock depreciation despite the nominal price increase.

3. Bridge Financing for Realbotix Acquisition Amidst Strategic Shift.

On September 14, 2026, Onconetix provided a bridge financing facility of up to $5 million, including an initial advance of $2.5 million, to Realbotix LLC, the AI-powered humanoid robot developer it plans to acquire. This financing, intended to support Realbotix's operations while the acquisition progresses, introduces significant financial risk for Onconetix, a company primarily focused on oncology solutions. The initial $2.5 million advance represents a notable portion of Onconetix's cash and equivalents, which stood at $5,942,249 as of June 30, 2026. If the Share Exchange Agreement for the acquisition is terminated, interest on the outstanding principal will accrue at 12% per annum, highlighting potential liquidity pressures and investor concerns regarding this strategic pivot.

Show less
Holding a concentrated position? Know your true downside before the momentum shifts.
Protect Your Wealth →

Stock Movement Drivers

Fundamental Drivers

The -46.7% change in ONCO stock from 5/31/2026 to 9/20/2026 was primarily driven by a -97.2% change in the company's Shares Outstanding (Mil).
(LTM values as of)53120269202026Change
Stock Price ($)1.200.64-46.7%
Change Contribution By: 
Total Revenues ($ Mil)11-12.2%
P/S Multiple0.12.22063.1%
Shares Outstanding (Mil)02-97.2%
Cumulative Contribution-46.8%

LTM = Last Twelve Months as of date shown

Market Drivers

5/31/2026 to 9/20/2026
ReturnCorrelation
ONCO-46.7% 
Market (SPY)0.9%11.3%
Sector (XLV)12.7%-13.0%

Fundamental Drivers

The -98.1% change in ONCO stock from 2/28/2026 to 9/20/2026 was primarily driven by a -98.7% change in the company's Shares Outstanding (Mil).
(LTM values as of)22820269202026Change
Stock Price ($)33.450.64-98.1%
Change Contribution By: 
Total Revenues ($ Mil)11-47.2%
P/S Multiple0.82.2188.8%
Shares Outstanding (Mil)02-98.7%
Cumulative Contribution-98.1%

LTM = Last Twelve Months as of date shown

Market Drivers

2/28/2026 to 9/20/2026
ReturnCorrelation
ONCO-98.1% 
Market (SPY)11.6%7.3%
Sector (XLV)5.5%-2.9%

Fundamental Drivers

The -99.6% change in ONCO stock from 8/31/2025 to 9/20/2026 was primarily driven by a -99.5% change in the company's Shares Outstanding (Mil).
(LTM values as of)83120259202026Change
Stock Price ($)146.500.64-99.6%
Change Contribution By: 
Total Revenues ($ Mil)11-51.3%
P/S Multiple1.32.277.0%
Shares Outstanding (Mil)02-99.5%
Cumulative Contribution-99.6%

LTM = Last Twelve Months as of date shown

Market Drivers

8/31/2025 to 9/20/2026
ReturnCorrelation
ONCO-99.6% 
Market (SPY)19.4%10.4%
Sector (XLV)24.1%-4.7%

Fundamental Drivers

The -100.0% change in ONCO stock from 8/31/2023 to 9/20/2026 was primarily driven by a null change in the company's P/S Multiple.
(LTM values as of)83120239202026Change
Stock Price ($)135830.000.64-100.0%
Change Contribution By: 
Total Revenues ($ Mil)019.2233720368547763E17%
P/S Multiple2.2 
Shares Outstanding (Mil)02-100.0%
Cumulative Contribution0.0%

LTM = Last Twelve Months as of date shown

Market Drivers

8/31/2023 to 9/20/2026
ReturnCorrelation
ONCO-100.0% 
Market (SPY)75.6%8.0%
Sector (XLV)32.3%1.1%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
ONCO Return--98%-82%-92%-97%-99%-100%
Peers Return16%-44%3%-0%34%27%13%
S&P 500 Return27%-19%24%23%16%12%103%

Monthly Win Rates [3]
ONCO Win Rate-36%17%8%25%11% 
Peers Win Rate48%32%43%47%43%53% 
S&P 500 Win Rate75%42%67%75%67%44% 

Max Drawdowns [4]
ONCO Max Drawdown---88%-98%-98%-99% 
Peers Max Drawdown-36%-54%-41%-37%-40%-30% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: MYGN, OPK, VTRS, PFE, GH.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 9/18/2026 (YTD)

How Low Can It Go

EventONCOS&P 500
2024 Yen Carry Trade Unwind
  % Loss-16.3%-7.8%
  % Gain to Breakeven19.4%8.5%
  Time to Breakeven9 days18 days
2023 SVB Regional Banking Crisis
  % Loss-32.5%-6.7%
  % Gain to Breakeven48.1%7.1%
  Time to Breakeven2 days31 days

Compare to MYGN, OPK, VTRS, PFE, GH

In The Past

Onconetix's stock fell -16.3% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 19.4% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventONCOS&P 500
2023 SVB Regional Banking Crisis
  % Loss-32.5%-6.7%
  % Gain to Breakeven48.1%7.1%
  Time to Breakeven2 days31 days

Compare to MYGN, OPK, VTRS, PFE, GH

In The Past

Onconetix's stock fell -16.3% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 19.4% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Onconetix (ONCO)

Onconetix, Inc. (ONCO) is a biotechnology and pharmaceutical company focused on developing and commercializing transformative therapies for global health challenges. The company's primary commercial product is Entadfi, an FDA-approved, once-daily combination pill of finasteride and tadalafil specifically designed for the treatment of benign prostatic hyperplasia (BPH) in men.

In addition to Entadfi, Onconetix has a significant pipeline dedicated to vaccine development. This includes a streptococcus pneumoniae vaccine candidate aimed at preventing infectious middle ear infections in children and pneumonia in the elderly, as well as a universal flu vaccine engineered to provide broad protection against all virulent influenza strains. The company also utilizes a licensed norovirus S&P nanoparticle versatile virus-like particle (VLP) vaccine platform to develop treatments for a variety of infectious diseases, such as Marburg and monkeypox, targeting broad populations susceptible to these conditions.

AI Analysis | Feedback

Here are 1-3 brief analogies for Onconetix (ONCO):

  • Like a specialized Moderna, but focused on diverse infectious disease vaccines (including universal flu), and also selling an approved prostate therapy.
  • Imagine a smaller, emerging GSK, heavily focused on next-generation vaccines, but also with an existing FDA-approved prostate medication.

AI Analysis | Feedback

  • Entadfi: An FDA-approved, once-daily pill combining finasteride and tadalafil for treating benign prostatic hyperplasia.
  • Streptococcus pneumoniae vaccine candidate: A vaccine in development to prevent infectious middle ear infections in children and pneumonia in the elderly.
  • Universal flu vaccine: A vaccine in development designed to provide protection from all virulent strains of influenza.
  • Norovirus S&P nanoparticle versatile virus-like particle (VLP) vaccine platform: A licensed platform used for developing vaccines for various infectious diseases, including Marburg and monkeypox.

AI Analysis | Feedback

Onconetix (ONCO), as a biotechnology and pharmaceutical company, primarily sells its products to other companies within the healthcare supply chain, rather than directly to individual consumers. Major customers for its FDA-approved drug Entadfi and its vaccine candidates would typically fall into the following categories:

  1. Pharmaceutical Wholesalers and Distributors: These companies purchase pharmaceutical products and vaccines directly from manufacturers like Onconetix and distribute them to pharmacies, hospitals, and other healthcare providers.

    • McKesson Corporation (MCK)
    • AmerisourceBergen Corporation (ABC)
    • Cardinal Health, Inc. (CAH)
  2. Large Retail Pharmacy Chains: These major pharmacy networks acquire drugs and other health products for dispensing to patients. While often supplied through distributors, they represent a significant end-point customer type for pharmaceutical manufacturers.

    • CVS Health (CVS)
    • Walgreens Boots Alliance, Inc. (WBA)
  3. Healthcare Providers and Government Agencies: This category includes large hospital systems, integrated delivery networks, and governmental bodies that purchase pharmaceuticals and vaccines for direct patient care or public health initiatives.

    • HCA Healthcare, Inc. (HCA) - (Example of a publicly traded hospital operator)
    • Government agencies and public health organizations (e.g., national health services, Centers for Disease Control and Prevention) - (These are typically governmental bodies and not publicly traded companies)

AI Analysis | Feedback

null

AI Analysis | Feedback

Karina M. Fedasz, Interim Chief Executive Officer and Interim Chief Financial Officer

Ms. Fedasz has over two decades of experience in financial management, capital raising, and strategic planning. Her background includes CFO positions across various industries, including biotech, and she served as Head of Business Development at Evofem Biosciences. She also managed the initial public offering for IDW Media Holdings and provided expertise to early-stage companies focused on artificial intelligence and health tracking. Ms. Fedasz holds an MBA from Columbia Business School and a BA from UCLA.

James Sapirstein, Executive Chairman

Mr. Sapirstein has over 35 years of experience in the healthcare sector, specifically in pharmaceutical company leadership. He currently serves as the President, CEO, and Chairman of Entero Therapeutics, Inc. (NASDAQ: ENTO) and holds board positions with other healthcare companies.

Andrew Oakley, Chairman of the Board and Lead Independent Director

Mr. Oakley is an experienced pharmaceutical and biotech industry professional. He previously held CFO positions at Autolus Therapeutics plc (NASDAQ: AUTL) from 2018 to 2022, Sosei Group (TSE:4565) from 2017 to 2018, as well as Vectura Group plc, and Actelion Ltd, where he led the finance function for over a decade. He also serves as a board member for several privately held Biotech companies.

Dr. Thomas Meier, Director

Dr. Meier possesses close to 25 years of experience as a life-science and biotech entrepreneur, executive manager, and board member. He is the Managing Partner of Viopas Venture Consulting GmbH and was a co-founder of Santhera Pharmaceuticals Holding AG, where he served as CEO for eight years and contributed to its initial public offering on the Swiss Stock Exchange. He has served as chairman or board member for several other biotech companies and advised on the merger that formed Onconetix.

Timothy R. Ramdeen, Independent Non-Executive Director

Mr. Ramdeen has nearly a decade of experience in private equity and hedge fund investing, capital markets, and company formation. Since June 2022, he has been the founder and managing partner of Dharma Capital Advisors, an investment and advisory firm focused on early-stage private and public companies. He was also a co-founder, chief investment officer, and portfolio manager at Sixth Borough Capital Management, a multi-stage, event-driven hedge fund.

AI Analysis | Feedback

Key Risks to Onconetix (ONCO)

  1. Clinical Development and Regulatory Approval Risk: A significant portion of Onconetix's future growth and valuation is tied to the successful development and regulatory approval of its pipeline products, including its streptococcus pneumoniae vaccine candidate, universal flu vaccine, and various vaccines utilizing the norovirus S&P nanoparticle versatile virus-like particle vaccine platform for infectious diseases like Marburg and monkeypox. The inherent challenges in clinical trials, such as unexpected safety issues, lack of efficacy, or delays in regulatory processes, pose substantial risks to the company's ability to bring these candidates to market. Failure at any stage of development could lead to significant financial losses and severely impact the company's long-term prospects.
  2. Market Competition: Onconetix faces considerable competition for both its FDA-approved product, Entadfi (a combination of finasteride and tadalafil for benign prostatic hyperplasia), and its various vaccine candidates in development. The market for BPH treatments includes established therapies and potential new entrants. Similarly, the vaccine market is highly competitive, dominated by large pharmaceutical companies with extensive research and development capabilities, manufacturing infrastructure, and established distribution channels. Onconetix's ability to gain market share and achieve commercial success for its products will depend on their differentiation, efficacy, safety, and pricing strategies in highly competitive environments.
  3. Intellectual Property Protection: The ability to secure, maintain, and enforce strong intellectual property rights, primarily patents, is critical for Onconetix's business model. For Entadfi, robust patent protection is essential to prevent generic competition. For its pipeline of vaccine candidates, the successful development and commercialization depend heavily on the company's ability to obtain and defend patents covering its technologies and products. Any challenges to Onconetix's patents, the inability to secure new patents, or infringement by third parties could significantly erode the value of its assets, reduce potential revenues, and hinder its competitive position.

AI Analysis | Feedback

null

AI Analysis | Feedback

Here are the addressable market sizes for Onconetix's main products and services:

  • Entadfi (Benign Prostatic Hyperplasia - BPH treatment): The global benign prostatic hyperplasia drugs market was valued at USD 6.36 billion in 2024 and is projected to reach USD 10.13 billion by 2032. Another estimate for the global benign prostatic hyperplasia treatment market size was USD 13.0 billion in 2025, with projections to reach USD 18.9 billion by 2034. The U.S. Benign Prostatic Hyperplasia Treatment Market was estimated at USD 4.18 billion in 2025 and is projected to reach USD 6.32 billion by 2033. North America held a significant share of the global BPH market, accounting for over 34.8% in 2025.
  • Streptococcus pneumoniae vaccine (Pneumococcal vaccine): The global pneumococcal vaccine market size was estimated at USD 8.07 billion in 2023 and is projected to reach USD 12.19 billion by 2030. Another report valued the global pneumococcal vaccine market at USD 8.5 billion in 2024, with an anticipation to reach USD 15.5 billion by 2035. North America held the largest share of the global market, with 36.7% in 2024.
  • Universal flu vaccine: While a specific addressable market size for a "universal flu vaccine" is not currently differentiated in the provided data, the overall global influenza vaccine market size was valued at USD 7.2 billion in 2024 and is estimated to reach USD 12.8 billion by 2033. North America dominated this market, holding over 53.4% market share in 2024.
  • Marburg vaccine: The global Marburg virus infection market is projected to reach $740 million by 2033. Another estimate valued the global Marburg virus disease therapeutics market at approximately USD 100.9 million in 2025, with a projection to reach around USD 164.5 million by 2035.
  • Monkeypox vaccine: The global monkeypox vaccine and treatment market size was valued at USD 86.75 million in 2023 and is projected to reach approximately USD 228.51 million by 2033. Another source indicates the market was valued at USD 103.5 million in 2024 and is projected to reach USD 225.12 million by 2032. North America currently dominates the monkeypox vaccine and treatment market.
  • Norovirus vaccine: The global norovirus vaccines market size reached USD 1.34 billion in 2024 and is projected to expand to USD 6.38 billion by 2033. North America dominated the global norovirus vaccines market, accounting for approximately 42% of the global market share in 2024, with a market value of USD 563 million.

AI Analysis | Feedback

null

AI Analysis | Feedback

The search results provide a lot of information about Onconetix (ONCO), formerly Blue Water Biotech (BWV). I need to carefully filter and organize this information into the requested categories for the last 3-5 years (roughly 2021-2026). **Verification Step:** The background provided confirms that Onconetix (ONCO) was formerly Blue Water Biotech, Inc. and changed its name in December 2023, and is headquartered in Cincinnati, Ohio. The search results consistently refer to Onconetix (ONCO) and Blue Water Biotech (BWV) and mention Cincinnati, Ohio, and their focus on biotechnology, men's health, and oncology, aligning with the background information. There are also mentions of "Bluewater Bio", but these results clearly describe a water technology company, not a biotechnology company, so I will filter those out. For example, are about "Bluewater Bio" (water technology company), which is distinct from "Blue Water Biotech" / "Onconetix". Let's break down the information by category: ** Share Repurchases:** * Blue Water Vaccines Inc. (BWV) announced a share repurchase program to buy back up to 5 million shares on November 9, 2022. No information found for Onconetix after the name change, or for any completed repurchases, only the authorization. ** Share Issuance:** * **September 2025:** Onconetix completed a $12.9 million private placement financing through the issuance of Series D Convertible Preferred Stock and warrants. Approximately $9.3 million was paid in cash, and the remainder offset existing debts. This Series D Preferred Stock is initially convertible into 4,362,827 shares of common stock. * **October 2024:** Onconetix announced a private placement of Series C Convertible Preferred Stock and warrants for approximately $2.0 million. The Series C Preferred Stock is initially convertible into 776,590 shares of common stock. * **October 2024:** Onconetix entered into a Common Stock Purchase Agreement with an institutional investor, granting the company the right to sell up to $25 million of newly issued common stock. * **August 2023:** Blue Water Biotech announced a definitive agreement for the exercise of certain existing warrants to purchase 2,486,214 shares of its common stock at a reduced exercise price of $1.09 per share, generating approximately $2.7 million in gross proceeds. This also involved the issuance of new unregistered warrants for up to 4,972,428 shares of common stock. * **August 2022:** Blue Water Biotech closed a private placement with aggregate net cash proceeds of approximately $8.7 million. * **June 2025:** Onconetix effected a 1-for-85 reverse stock split to regain Nasdaq compliance. This reduced the number of outstanding shares from approximately 44.4 million to about 521,863. This is a change in share count, not necessarily an issuance of new capital, but it impacts the share structure. ** Inbound Investments:** * **September 2025:** Onconetix received approximately $12.9 million through a private placement of Series D Convertible Preferred Stock and warrants. Approximately $9.3 million was paid in cash, with the remainder used to offset amounts owed to investors and settle $8.8 million in debt to Veru, Inc. This looks like an inbound investment from the private placement investors. * **October 2024:** Onconetix secured approximately $2.0 million from a private placement of Series C Preferred Stock and warrants. * **October 2024:** Onconetix established a $25 million equity line of credit with an institutional investor. * **August 2023:** Blue Water Biotech received approximately $2.7 million in gross proceeds from the exercise of existing warrants. * **August 2022:** Blue Water Biotech closed a private placement resulting in approximately $8.7 million in net cash proceeds. ** Outbound Investments:** * **February 2026:** Onconetix announced a merger/acquisition with Realbotix (Other Commercial Services). The specific dollar amount of the outbound investment is not clearly stated, but it's a significant strategic move. The deal could transfer 75-90% of fully diluted equity to the seller, depending on Net Cash at closing, and requires at least $12.5 million of Net Cash plus a committed $125.0 million equity line. This sounds like a reverse merger where Onconetix is the acquiring shell. * **June 2023:** Blue Water Biotech acquired six FDA-approved drugs across various treatment areas from WraSer, LLC and Xspire Pharma, LLC for a total of $8.5 million cash consideration, payable in three tranches, and 1.0 million restricted shares of Blue Water's common stock. * **Prior to June 2023:** Blue Water Biotech purchased Entadfi from Veru Inc. (The background says Onconetix owns Entadfi, so this acquisition happened before the name change). The value is not immediately available here. However, mentions settlement of $8.8 million in debt to Veru, Inc. in September 2025 related to ENTADFI, which might be related to the original acquisition terms. ** Capital Expenditures:** * **Q4 2024:** Onconetix invested $4,000 in capital expenditures. * **2025:** Onconetix reported capital expenditures of $28,000. * **Q1 2025:** Onconetix invested $24,000 in research and development, which is typically expensed, not capitalized, so I should be careful not to confuse R&D with Capex. * **Nine months ended September 30, 2024:** Capital expenditures are not explicitly stated as a separate line item, but operating cash flow use was approximately $9.6 million. * **No clear forward-looking statements on expected capital expenditures for the upcoming year or primary focus are consistently available across the search results in summary format.** Some sources just mention general corporate purposes. The focus seems to be R&D and commercialization efforts for their products, but specific capital expenditure details for those are limited. Let's refine and select the most significant points. **Refinement:** * **Share Repurchases:** The only clear point is the 2022 authorization. * **Share Issuance:** The private placements in 2025 ($12.9M) and 2024 ($2.0M) are significant. The $25M equity line is an authorization for future issuance. The reverse stock split is a critical event changing the share count. * **Inbound Investments:** The private placements align directly with "large investments made in the company by third-parties". * **Outbound Investments:** The acquisition of six FDA-approved drugs for $8.5 million in cash and 1 million shares, and the planned Realbotix merger are key. * **Capital Expenditures:** The reported figures are quite small ($4K, $28K) which indicates minimal capital expenditures. There isn't a lot of detail about their "primary focus" beyond general statements about supporting operations and development. The 10-K for June 2025 mentions reliance on third-party manufacturers, which means less in-house capital expenditure on manufacturing facilities. I need to ensure no disclaimers or introductory sentences and use HTML tags. Check the timeline: "last 3-5 years" means roughly from March 2021 to March 2026. All selected events fall within this timeframe. Final check of company identity: The results clearly refer to Onconetix, Inc. (ONCO), formerly Blue Water Biotech, Inc. (BWV), a biotechnology/pharmaceutical company, consistently with the background. The "Bluewater Bio" results are about a water technology company and have been filtered out.

Peer Outperformance in Biotechnology

null
Share of Biotechnology constituents that ONCO has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
1%
of 455 industry peers · -99.6% return
3Y
0%
of 402 industry peers · -100.0% return
5Y
insufficient peer history
null
Median price return by industry across the Health Care sector, ranked by 5Y. Biotechnology is ONCO's own industry. Use this to see which corners of the sector have carried the returns.
Industry Names 1Y med3Y med5Y med Top 3 by 5Y
Health Care Distributors 6 16.2%43.2%90.1% CAH 392% · MCK 346% · COR 168%
Managed Health Care 8 40.4%-5.3%2.3% OSCR 84% · HQY 56% · ELV 17%
Health Care Services 20 21.1%37.6%-0.3% HIMS 239% · RDNT 173% · DGX 76%
Health Care Facilities 24 6.0%6.5%-4.5% NHC 271% · THC 261% · ENSG 129%
Health Care Equipment 50 -2.7%-0.2%-21.1% POCI 11050% · UFPT 341% · GKOS 222%
Pharmaceuticals 62 -10.5%14.8%-38.6% LQDA 2472% · INDV 1099% · ETON 1051%
Health Care Supplies 12 14.1%-8.9%-39.7% LNTH 287% · HAE 54% · MMSI 20%
Life Sciences Tools & Services 109 4.3%-11.3%-68.4% SNWV 1757% · MEDP 231% · NTRA 199%
Health Care Technology 21 -25.8%-52.6%-79.2% SPOK 68% · HSTM 3% · VEEV -13%
Biotechnology ← 364 0.6%-21.7%-79.4% CELZ 1280% · DNTH 1221% · ELVN 1069%
Median of constituents with a full price history over each window. Top names are unfiltered by size in this render.

Latest Trefis Analyses

TitleDate
0DASHBOARDS 
1Can Onconetix Stock Recover If Markets Fall?10/17/2025
Title
0ARTICLES

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

ONCOMYGNOPKVTRSPFEGHMedian
NameOnconetixMyriad G.OPKO Hea.Viatris Pfizer Guardant. 
Mkt Price0.643.891.6716.9527.66179.3810.42
Mkt Cap0.00.41.319.7157.623.810.5
Rev LTM180758814,73763,6951,183995
Op Inc LTM-8-90-16813017,019-470-49
FCF LTM-10-14-1341,81210,985-241-12
FCF 3Y Avg-11-68-1601,7979,411-271-40
CFO LTM-108-1232,33113,401-185-1
CFO 3Y Avg-11-36-1432,26412,198-235-23

Growth & Margins

ONCOMYGNOPKVTRSPFEGHMedian
NameOnconetixMyriad G.OPKO Hea.Viatris Pfizer Guardant. 
Rev Chg LTM-51.3%-3.2%-11.5%4.4%-0.2%42.7%-1.7%
Rev Chg 3Y Avg-5.1%-12.1%-1.8%-5.2%32.6%-1.8%
Rev Chg Q-83.9%-10.5%4.3%4.9%2.6%44.3%3.5%
QoQ Delta Rev Chg LTM-12.2%-2.7%1.2%1.2%0.6%9.5%0.9%
Op Inc Chg LTM-1.0%-18.1%37.3%-67.0%2.1%-2.1%-1.5%
Op Inc Chg 3Y Avg7.2%16.9%-6.4%-41.5%233.9%4.6%5.9%
Op Mgn LTM-1,190.3%-11.2%-28.6%0.9%26.7%-39.7%-19.9%
Op Mgn 3Y Avg-987.9%-11.3%-35.4%4.0%18.7%-58.3%-23.4%
QoQ Delta Op Mgn LTM-267.6%-3.5%6.3%-0.8%-0.5%1.7%-0.7%
CFO/Rev LTM-1,596.1%1.0%-21.0%15.8%21.0%-15.7%-7.3%
CFO/Rev 3Y Avg-1,029.0%-4.4%-22.1%15.4%19.7%-29.3%-13.3%
FCF/Rev LTM-1,596.1%-1.8%-22.8%12.3%17.2%-20.3%-11.1%
FCF/Rev 3Y Avg-1,030.8%-8.5%-24.6%12.2%15.1%-33.2%-16.5%

Valuation

ONCOMYGNOPKVTRSPFEGHMedian
NameOnconetixMyriad G.OPKO Hea.Viatris Pfizer Guardant. 
Mkt Cap0.00.41.319.7157.623.810.5
P/S2.20.52.11.32.520.12.2
P/Op Inc-0.2-4.1-7.5151.19.3-50.7-2.1
P/EBIT-0.1-3.9-36.2-108.222.8-53.0-20.0
P/E-0.1-3.3-17.3-48.036.4-52.6-10.3
P/CFO-0.147.9-10.28.511.8-128.74.2
Total Yield-710.4%-30.5%-5.8%0.7%9.0%-1.9%-3.8%
Dividend Yield0.0%0.0%0.0%2.8%6.2%0.0%0.0%
FCF Yield 3Y Avg-345.0%-6.4%-15.5%13.6%6.7%-4.6%-5.5%
D/E0.10.60.30.70.40.10.4
Net D/E-4.00.30.10.60.30.00.2

Returns

ONCOMYGNOPKVTRSPFEGHMedian
NameOnconetixMyriad G.OPKO Hea.Viatris Pfizer Guardant. 
1M Rtn-1.8%21.6%12.8%3.9%-1.5%5.1%4.5%
3M Rtn-32.3%-14.3%17.6%11.1%11.6%36.1%11.4%
6M Rtn-97.9%-15.1%49.1%30.3%6.1%110.6%18.2%
12M Rtn-99.6%-49.9%15.2%77.3%23.2%203.3%19.2%
3Y Rtn-100.0%-76.8%3.1%98.4%2.1%587.0%2.6%
1M Excs Rtn-9.4%22.7%15.1%5.9%-1.3%10.6%8.2%
3M Excs Rtn-34.3%-16.3%15.6%9.1%9.6%34.1%9.4%
6M Excs Rtn-113.2%-33.9%26.9%11.6%-11.4%85.6%0.1%
12M Excs Rtn-115.5%-63.3%4.2%66.5%7.2%197.7%5.7%
3Y Excs Rtn-171.2%-146.9%-69.4%25.9%-72.8%385.0%-71.1%

Comparison Analyses

null

Financials

Segment Financials

Revenue by Segment
$ Mil2025202420232022
Other revenue1   
Product sales00  
Development services020 
Single segment   0
Total1300


Assets by Segment
$ Mil202220212020
Commercial26  
Single segment 35
Total2635


Price Behavior

Price Behavior
Market Price$0.64 
Market Cap ($ Bil)0.0 
First Trading Date02/18/2022 
Distance from 52W High-99.7% 
   50 Days200 Days
DMA Price$0.78$28.55
DMA Trenddowndown
Distance from DMA-18.4%-97.8%
 3M1YR
Volatility153.2%164.0%
Downside Capture258.98514.46
Upside Capture25.60-206.28
Correlation (SPY)11.3%9.5%
ONCO Betas & Captures as of 8/31/2026

 1M2M3M6M1Y3Y
Beta0.442.631.171.001.320.93
Up Beta3.023.343.66-0.600.23-0.31
Down Beta7.709.420.480.472.861.74
Up Capture-292%-113%-68%-109%-61%-7%
Bmk +ve Days10213268138427
Stock +ve Days614204396285
Down Capture169%329%211%306%198%113%
Bmk -ve Days11213259113324
Stock -ve Days15284382151456

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with ONCO
ONCO-99.6%163.1%-2.44-
Sector ETF (XLV)24.4%16.1%1.16-5.7%
Equity (SPY)16.9%12.9%0.949.9%
Gold (GLD)19.1%29.3%0.603.7%
Commodities (DBC)46.3%20.6%1.73-2.4%
Real Estate (VNQ)4.9%13.6%0.10-10.8%
Bitcoin (BTCUSD)-30.6%44.3%-0.705.6%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with ONCO
ONCO-96.4%197.9%-0.98-
Sector ETF (XLV)6.4%15.2%0.24-0.1%
Equity (SPY)12.9%17.2%0.577.1%
Gold (GLD)19.1%18.8%0.830.0%
Commodities (DBC)11.2%19.5%0.451.3%
Real Estate (VNQ)1.1%18.8%-0.056.3%
Bitcoin (BTCUSD)12.5%52.5%0.423.3%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with ONCO
ONCO-80.9%197.9%-0.98-
Sector ETF (XLV)10.6%16.7%0.51-0.1%
Equity (SPY)15.1%18.0%0.727.1%
Gold (GLD)12.1%16.4%0.610.0%
Commodities (DBC)8.3%18.1%0.371.3%
Real Estate (VNQ)4.4%20.7%0.186.3%
Bitcoin (BTCUSD)62.6%66.2%1.023.3%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date8312026
Short Interest: Shares Quantity0.2 Mil
Short Interest: % Change Since 815202610.6%
Average Daily Volume0.2 Mil
Days-to-Cover Short Interest1
Basic Shares Quantity2.2 Mil
Short % of Basic Shares7.5%

Earnings Returns History

Updated 6/2/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
SUMMARY STATS   
# Positive000
# Negative000
Median Positive   
Median Negative   
Max Positive   
Max Negative   
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
SUMMARY STATS   
# Positive000
# Negative000
Median Positive   
Median Negative   
Max Positive   
Max Negative   

SEC Filings

Expand for More
Report DateFiling DateFiling
06/30/202608/13/202610-Q
03/31/202605/13/202610-Q
12/31/202503/13/202610-K
09/30/202511/13/202510-Q
06/30/202508/14/202510-Q
03/31/202506/12/202510-Q
12/31/202406/02/202510-K
09/30/202412/10/202410-Q
06/30/202408/29/202410-Q
03/31/202405/20/202410-Q
12/31/202304/11/202410-K
09/30/202311/17/202310-Q
06/30/202310/20/202310-Q
03/31/202305/12/202310-Q
12/31/202203/09/202310-K
09/30/202211/14/202210-Q
Collapse to Preview
Report DateFiling DateFiling
06/30/202608/13/202610-Q
03/31/202605/13/202610-Q
12/31/202503/13/202610-K
09/30/202511/13/202510-Q
06/30/202508/14/202510-Q
03/31/202506/12/202510-Q
12/31/202406/02/202510-K
09/30/202412/10/202410-Q
06/30/202408/29/202410-Q
03/31/202405/20/202410-Q
12/31/202304/11/202410-K
09/30/202311/17/202310-Q
06/30/202310/20/202310-Q
03/31/202305/12/202310-Q
12/31/202203/09/202310-K
09/30/202211/14/202210-Q
06/30/202208/15/202210-Q
03/31/202205/13/202210-Q
12/31/202103/31/202210-K
09/30/202102/23/2022424B4

Insider Activity

Updated 4/26/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Hrt, Financial LP DirectSell42120260.7594,46270,84662,519Form
2Hrt, Financial LP DirectBuy42120260.7334,63625,284129,809Form
3Hrt, Financial LP DirectSell42120260.7353,86739,323104,525Form
4Hrt, Financial LP DirectBuy41620260.7692,55470,341149,760Form
5Hrt, Financial LP DirectBuy41620260.7774,35057,25080,463Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Hrt, Financial LP DirectSell42120260.7594,46270,84662,519Form
2Hrt, Financial LP DirectBuy42120260.7334,63625,284129,809Form
3Hrt, Financial LP DirectSell42120260.7353,86739,323104,525Form
4Hrt, Financial LP DirectBuy41620260.7692,55470,341149,760Form
5Hrt, Financial LP DirectBuy41620260.7774,35057,25080,463Form
Core Cache Last Updated: 9/20/2026