Onconetix, Inc. is a US-listed company in the biotechnology industry. Its financial year ends in December.
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~$0.2
Price-to-sales vs peers
Base case. Range ~$0.2–$1.6. Sales per share times peers' typical price-to-sales; used only when earnings are negative.
No Buy/Hold/Sell rating is issued: limited reported history: available models are shown without a Buy/Hold/Sell rating.
Onconetix, Inc. valuation: adjust assumptions and compare models →
What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.
Onconetix has little or no product revenue yet; it used $10m of cash in the twelve months to June 2026. It passes 2 of our 3 financial-health checks. Our price-to-sales vs peers value is $0.74 a share, against a share price of $0.57.
Source: 10-Q filed August 13, 2026 on SEC EDGAR · Financials · Valuation
Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.
Onconetix, Inc.'s trailing-twelve-month revenue fell 51.3% year on year, with a free-cash-flow margin of -1596.1%.
Current signal Free cash flow diverging from earnings: TTM free cash flow fell 88.3% while net income grew 76.9%: a 165pp divergence.
Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.
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Company announcements, filed results and changes that matter to shareholders.
We value Onconetix, Inc. as an operating company, with every model that fits that kind of business. Cost of equity 11%: the 10-year Treasury yield (4.9%) plus a beta of 1.34 times a 4.5% equity risk premium.
| Model | Value per share | In the combined value? |
|---|---|---|
| Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. | — | Does not apply: no positive earnings in the latest twelve months |
| Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. | — | Does not apply: the model gives no positive value |
| Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. | — | Does not apply: return on equity is not positive |
| Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. | — | Does not apply: revenue and margins don't support a positive value |
| Price-to-sales vs peers Sales per share times peers' typical price-to-sales; used only when earnings are negative. | ~$0.2 ~$0.5–$1.6 | Included, half weight |
| Combined value Weighted average of the models that apply: the primary model (price-to-earnings vs peers) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. | ~$0.2 ~$0.2–$1.6 | 1 model |
Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Onconetix, Inc. with Biotechnology in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.
| At fiscal year end | 2023 | 2024 | 2025 |
|---|---|---|---|
| Share price | $33660.00 | $2677.50 | $78.00 |
| Market value | $3m | $2m | $1m |
| + Net debt (− = net cash) | $5m | $9m | −$5m |
| Enterprise value | $9m | $11m | −$4m |
| Multiples | |||
| Price / sales | 58.0x | 0.7x | 1.8x |
| Price / earnings | — | — | — |
| Price / free cash flow | — | — | — |
| EV / EBITDA | — | — | — |
Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Medium.
No analyst estimates are published for Onconetix, Inc.: too few analysts cover it.
| Quarter to | Estimate | Actual | Surprise |
|---|---|---|---|
| Sept 2023 | −$32300.02 | −$52700.03 | −63.2% |
| Jun 2023 | −$30600.02 | −$73100.04 | −138.9% |
| Mar 2023 | −$34850.02 | −$30600.02 | +12.2% |
| Dec 2022 | −$45050.02 | −$27200.01 | +39.6% |
Adjusted EPS as companies report it, against the average analyst estimate.
| Calendar year | 2023 | 2024 | 2025 | 2026 to date |
|---|---|---|---|---|
| Return | ||||
| ONCO | −82% | −92% | −97% | −99% |
| Industry peers (median) | −17% | −28% | −5% | −26% |
| S&P 500 | +26% | +25% | +18% | +11% |
| Months that ended higher | ||||
| ONCO | 17% | 8% | 25% | 9% |
| S&P 500 | 67% | 75% | 75% | 46% |
| Largest fall from a high during the year | ||||
| ONCO | −89% | −98% | −98% | −100% |
| S&P 500 | −10% | −8% | −19% | −9% |
Worst fall since February 18, 2022: 100% from March 15, 2022 to October 26, 2026. Getting back needed a 2892982359% gain, and the shares have not yet recovered.
Source: SEC EDGAR filings. Retrieved October 29, 2026.
| Period | Revenue (TTM) |
|---|---|
| FY24 Q4 | $2.5M |
| FY25 Q1 | $1.9M |
| FY25 Q2 | $1.3M |
| FY25 Q3 | $1.2M |
| FY25 Q4 | $815.4K |
| FY26 Q1 | $735.2K |
| FY26 Q2 | $645.8K |
Source: SEC EDGAR filings. Retrieved October 29, 2026.
| Period | Operating margin (TTM) |
|---|---|
| FY24 Q4 | -2238.0% |
| FY25 Q1 | -3011.3% |
| FY25 Q2 | -3489.0% |
| FY25 Q3 | -3736.2% |
| FY25 Q4 | -2190.0% |
| FY26 Q1 | -2109.9% |
| FY26 Q2 | -2525.0% |
Source: SEC EDGAR filings. Retrieved October 29, 2026.
| Period | FCF margin (TTM) |
|---|---|
| FY24 Q4 | -416.9% |
| FY25 Q1 | -377.3% |
| FY25 Q2 | -412.5% |
| FY25 Q3 | -613.3% |
| FY25 Q4 | -1187.0% |
| FY26 Q1 | -1333.0% |
| FY26 Q2 | -1596.1% |
| Fiscal year | 2023 Dec 2023 | 2024 Dec 2024 | 2025 Dec 2025 | LTM Jun 2026 |
|---|---|---|---|---|
| Income | ||||
| Revenue | 0 | 3 | 1 | 1 |
| Gross profit | −1 | 1 | 1 | 1 |
| EBITDA | −36 | −56 | −18 | −16 |
| Operating income | −36 | −56 | −18 | −16 |
| Net income | −37 | −59 | −14 | −10 |
| Diluted EPS | −$371653.79 | −$91167.36 | −$827.98 | — |
| Growth (year on year) | ||||
| Revenue | — | +>999% | −67.7% | −51.3% |
| Margins | ||||
| Gross margin | <−999% | 41.8% | 77.6% | 80.4% |
| EBITDA margin | <−999% | <−999% | <−999% | <−999% |
| Operating margin | <−999% | <−999% | <−999% | <−999% |
| Net margin | <−999% | <−999% | <−999% | <−999% |
| Free-cash-flow margin | <−999% | −416.9% | <−999% | <−999% |
| Cash flow | ||||
| Cash from operations | −14 | −10 | −10 | −10 |
| Capital spending | 0 | 0 | 0 | 0 |
| Free cash flow | −14 | −11 | −10 | −10 |
| Stock-based pay | 0 | 0 | 0 | 0 |
| Free cash flow after stock pay | −14 | −11 | −10 | −10 |
| Balance sheet | ||||
| Cash | 5 | 1 | 5 | 6 |
| Total debt | 10 | 9 | 0 | 0 |
| Net debt (negative = net cash) | 5 | 9 | −5 | −6 |
| Diluted shares | — | — | — | — |
| Quarter | 2024 Q3 Sept 2024 | 2024 Q4 Dec 2024 | 2025 Q1 Mar 2025 | 2025 Q2 Jun 2025 | 2025 Q3 Sept 2025 | 2025 Q4 Dec 2025 | 2026 Q1 Mar 2026 | 2026 Q2 Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Income | ||||||||
| Revenue | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 |
| Gross profit | 0 | 1 | 0 | 0 | 0 | 0 | −0 | 0 |
| EBITDA | −2 | −29 | −13 | −2 | −2 | −1 | −10 | −3 |
| Operating income | −3 | −29 | −13 | −2 | −2 | −1 | −10 | −3 |
| Net income | −4 | −29 | −9 | −2 | −9 | 6 | −4 | −3 |
| Diluted EPS | −$124537.08 | $125870.05 | −$22724.47 | −$475.82 | −$1562.46 | $628.99 | −$335.49 | −$1.28 |
| Growth (year on year) | ||||||||
| Revenue | — | — | −85.5% | −84.9% | −25.4% | −57.4% | −78.9% | −83.9% |
| Margins | ||||||||
| Gross margin | 25.9% | 92.7% | 45.1% | 66.2% | 88.6% | 81.6% | −7.7% | 25.1% |
| EBITDA margin | −600.2% | <−999% | <−999% | <−999% | −680.3% | −421.0% | <−999% | <−999% |
| Operating margin | −650.3% | <−999% | <−999% | <−999% | −681.5% | −422.1% | <−999% | <−999% |
| Net margin | −940.7% | <−999% | <−999% | <−999% | <−999% | >999% | <−999% | <−999% |
| Free-cash-flow margin | −282.4% | −129.4% | — | <−999% | <−999% | <−999% | <−999% | <−999% |
| Cash flow | ||||||||
| Cash from operations | −1 | −1 | −2 | −1 | −3 | −3 | −2 | −2 |
| Capital spending | 0 | 0 | — | 0 | 0 | 0 | 0 | 0 |
| Free cash flow | −1 | −1 | — | −1 | −3 | −3 | −2 | −2 |
| Stock-based pay | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Free cash flow after stock pay | −1 | −1 | — | −1 | −3 | −3 | −2 | −2 |
| Last 12 months unless stated | ONCO | CRDF | MNOV | STTK | LGVN | CRVO | Median |
|---|---|---|---|---|---|---|---|
| Revenue, last 12 months | $645824 | $508000 | $920481 | $1m | $1m | $331295 | $55m |
| Revenue growth, last 12 months | −51.3% | −7.0% | 875.7% | −66.6% | −42.7% | −95.7% | 12.2% |
| Revenue growth, 3-year average | — | 7.2% | — | 5.2% | 10.4% | −52.7% | 13.7% |
| Revenue growth, latest quarter | −83.9% | −14.0% | 240.6% | −66.6% | −9.2% | −100.0% | 10.2% |
| Gross margin | 80.4% | 100.0% | 100.0% | — | 69.8% | 100.0% | 82.8% |
| Operating margin | <−999% | <−999% | <−999% | <−999% | <−999% | <−999% | −191.1% |
| Operating margin, 3-year average | — | <−999% | −905.8% | <−999% | <−999% | <−999% | −363.5% |
| Net margin | <−999% | <−999% | <−999% | <−999% | <−999% | <−999% | −172.8% |
| Cash from operations / revenue | <−999% | <−999% | −989.7% | <−999% | <−999% | <−999% | −168.8% |
| Free-cash-flow margin | <−999% | <−999% | −991.2% | <−999% | <−999% | — | −168.1% |
| Free-cash-flow margin, 3-year average | — | <−999% | <−999% | <−999% | <−999% | — | −310.0% |
| Stock pay / revenue | 6.8% | >999% | 100.3% | 853.2% | 132.8% | 393.0% | 19.2% |
| Change in share count | — | 15.8% | 0.2% | 15.3% | — | 8.4% | 8.2% |
| Line of business | Revenue | Share | YoY |
|---|---|---|---|
| Other Revenues | $587,882 | 72.1% | — |
| Product Sales | $225,835 | 27.7% | ▼ 9.3% |
| Development Service | $1,654 | 0.2% | ▼ 99.9% |
| Licenses | $1 | 0.0% | — |
| Region | Revenue | YoY |
|---|---|---|
| European Union | $796,590 | ▼ 67.3% |
| Switzerland | $796,590 | ▼ 67.3% |
| Non European Union | $18,781 | ▼ 21.2% |
| United Kingdom | $18,781 | ▼ 21.2% |
These categories overlap or exclude eliminations, so shares aren't shown.
From Onconetix, Inc.'s 10-K filed March 13, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.
| Manager | Value | Shares | Share of 13F value | Shares QoQ |
|---|---|---|---|---|
| HRT Financial LP | $58,000 | 51K | 78.5% | — |
| Xtx Topco Ltd | $15,309 | 14K | 20.7% | — |
| Sbi Securities Co., Ltd. | $285 | 0K | 0.4% | — |
| Tower Research Capital LLC (TRC) | $164 | 0K | 0.2% | — |
| Hollencrest Capital Management | $113 | 0K | 0.2% | — |
| Morgan Stanley | $24 | 0K | 0.0% | — |
From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Onconetix, Inc.'s complete shareholder register. Values are as reported by the filers .
| Insider | Date | Trade | Shares | Price | Value |
|---|---|---|---|---|---|
| Hrt Financial Lp 10% owner | April 21, 2026 | Sell | 49,710 | $0.69 | $34,300 |
| Hrt Financial Lp 10% owner | April 20, 2026 | Sell | 94,462 | $0.75 | $70,846 |
| Hrt Financial Lp 10% owner | April 17, 2026 | Buy | 34,636 | $0.73 | $25,284 |
| Hrt Financial Lp 10% owner | April 16, 2026 | Sell | 53,867 | $0.73 | $39,323 |
| Hrt Financial Lp 10% owner | April 15, 2026 | Buy | 92,554 | $0.76 | $70,341 |
| Hrt Financial Lp 10% owner | April 14, 2026 | Buy | 74,350 | $0.77 | $57,250 |
From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.
| Data | Last updated | Source |
|---|---|---|
| Share price | Exchange closing prices | |
| Financial statements | SEC 10-K and 10-Q filings | |
| News and updates | Company releases and SEC 8-K filings | |
| Analyst estimates | Aggregated analyst estimates | |
| Valuation and scores | Our models, from the filed figures |
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