On March 23, 2026, Onconetix, Inc. (NASDAQ: ONCO) announced that its Board of Directors has approved a 1-for-5 reverse stock split of its outstanding shares of common stock, effective at 12:01 a.m. Eastern Time on March 25, 2026. This decision follows a special meeting of stockholders held on February 3, 2026, where stockholders approved a proposal to effect a reverse stock split at a ratio ranging from 1-for-2 to 1-for-50. The specific ratio was determined by the Board without requiring further stockholder approval. The reverse stock split is intended to help the company maintain compliance with the minimum bid price requirement of $1.00 per share for continued listing on The Nasdaq Capital Market.

Following the reverse stock split, every five shares of the company's common stock will automatically convert into one share, with no change in the par value per share. The total number of shares outstanding will decrease from approximately 3.6 million to about 0.7 million. Stockholders holding shares in brokerage accounts will see their shares automatically adjusted, while those with physical certificates may exchange them if they choose. The reverse stock split will not affect the number of authorized shares of common stock, and stockholders' percentage interests in the company will remain unchanged, except for fractional shares, which will be compensated in cash based on the closing price prior to the effective date.

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