24/7 Market News Snapshot 08 April, 2025 – Onconetix, Inc. Common Stock (NASDAQ:ONCO)

April 8, 2025

DENVER, Colo., 08 April, 2025 (www.247marketnews.com) – (NASDAQ:ONCO) are discussed in this article.
Onconetix, Inc. (NASDAQ:ONCO) is experiencing a notable surge in its stock price, increasing by 91.67% in the pre-market, trading at $0.138, a significant rise from the prior close of $0.072. This upward momentum is backed by a remarkable trading volume of 54.98 million shares, reflecting heightened investor interest and confidence in the company’s potential. This bullish trend appears to suggest optimism among traders regarding ONCO’s future performance.

Compounding this positive performance, Onconetix has entered into a Non-Binding Letter of Intent with Ocuvex Therapeutics, Inc. to explore a potential business combination. This partnership aims to integrate pioneering ophthalmic therapeutic candidates from Ocuvex into Onconetix’s growing portfolio, potentially addressing critical unmet medical needs within the biopharmaceutical sector. Andrew J. Oakley, Chairman of Onconetix, expressed strong enthusiasm regarding the collaboration, emphasizing how Ocuvex’s late clinical-stage and commercially available ophthalmic assets will expand the company’s reach beyond its current oncology focus, thereby enhancing value for shareholders.

Echoing these sentiments, Anthony W. Amato, President and CEO of Ocuvex, highlighted the anticipated benefits of the merger for increasing market access and reinforcing their commitment to innovation. The agreement will involve Onconetix acquiring all equity interests in Ocuvex in exchange for newly issued shares, resulting in Ocuvex equity holders owning approximately 90% of Onconetix post-transaction.

As discussions progress towards drafting a definitive agreement, the transaction remains subject to standard conditions, including due diligence and regulatory approvals. Both entities are poised to leverage this potential merger as a strategic opportunity to advance healthcare solutions while delivering substantial benefits to their stakeholders.

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