Key Highlights

  • Shares were down 6.77 percent to USD 0.5230 in pre-market trading on November 2, 2026.
  • A 1-for-10 Reverse Stock Split takes effect at 12:01 a.m. Eastern Time on November 6, 2026.
  • Outstanding shares fall from about 5,886,774 to about 588,677, before fractional adjustments.
  • The company has a pending Acquisition of Realbotix LLC and has provided it with bridge financing.
  • Its main product is the Proclarix prostate cancer diagnostic test.

What moved the stock before the opening bell

Onconetix (NASDAQ:ONCO) was down 6.77 percent to USD 0.5230 in pre-market trading on November 2, 2026. Working back from those figures, the previous close was about USD 0.5610 (calculated).

Market data shows the shares rose on October 27, 2026, after the reverse split announcement, so Monday's decline may reflect some of that gain reversing. No company announcement dated November 2, 2026 was identified.

The reverse split in detail

In a press release dated October 26, 2026, the company said its board approved a 1-for-10 reverse stock split, effective at 12:01 a.m. Eastern Time on November 6, 2026. Every ten shares become one, and the ticker stays the same with a new CUSIP of 68237Q500.

Based on 5,886,774 shares outstanding as of October 21, 2026, the count falls to about 588,677. Holders owed a Fractional Share receive cash, and exercise prices for options, warrants and convertibles adjust proportionately. At the current pre-market price, the split implies a price near USD 5.23 (calculated), before any market reaction.

Business background and the Realbotix deal

Onconetix describes itself as a commercial-stage biotechnology company focused on oncology. Proclarix is approved for sale in the European Union under the IVDR, and the company expects to offer it in the United States as a laboratory developed test under a license with a laboratory partner.

The company has also announced a pending acquisition of Realbotix LLC and said it provided strategic Bridge Financing to Realbotix in September and October 2026. Business combination filings were made on October 23 and October 27, 2026, and Realbotix launched its Echo humanoid robot line on October 27, 2026. Deal terms and a closing timeline were not identified.

Balance sheet and risks

Market data lists three earlier reverse splits, at ratios of 1-for-5, 1-for-10 and 1-for-85. The company's press release did not state the reason for this one.

With shares below USD 5, penny stocks can be volatile and less liquid, and new share issuance can dilute existing holders. Market data shows a Market Value of about USD 3.14 million and a float of roughly 5.23 million shares. Cash and recent quarterly results were not identified in the sources reviewed.

What to watch next

The split takes effect on November 6, 2026, when the adjusted share count and price will show how the market responds. Investors will also look for definitive terms and a timeline for the Realbotix transaction, and for the next Quarterly Report on cash and Proclarix sales.