Onconetix faces Nasdaq delisting risk; must meet initial listing criteria including $4.00 minimum bid price

Onconetix, Inc.

Nasdaq ruled Proteomedix AG acquisition triggers Change of Control; must satisfy initial listing rules including $4.00 minimum bid price.
Company has until Sept 16, 2024 to regain Bid Price Rule compliance ($1.00 close for 10 days); extension for stockholders' equity runs to Nov 4, 2024.
Board proposes reverse stock split (1-for-30 to 1-for-60) to boost per-share price and meet Nasdaq minimum price and equity requirements.
Failure to comply could lead to delisting; common stock would trade OTC, materially reducing liquidity and capital access.

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