Onconetix Announces $12.9 Million Private Placement and Terminates Merger Agreement with Ocuvex, Inc.

Onconetix has announced a $12.9 million private placement of Series D Preferred Stock and Warrants, and terminated its merger agreement with Ocuvex, Inc. The company also settled an $8.8 million debt with Veru, Inc. Onconetix plans to use the remaining net cash proceeds from the financing to cover costs associated with the termination of the Ocuvex merger and for working capital and general corporate purposes.

Onconetix, Inc. (ONCO) has announced a significant development in its financial and operational strategy. The company has secured a $12.9 million private placement of Series D Preferred Stock and Warrants. Concurrently, Onconetix has terminated its merger agreement with Ocuvex Therapeutics, Inc. and settled an $8.8 million debt with Veru, Inc. Onconetix, Inc. Stock^[1]

The private placement will provide Onconetix with much-needed liquidity to cover costs associated with the termination of the Ocuvex merger, as well as for general corporate purposes and working capital. This move comes at a critical juncture for Onconetix, which has been navigating through various financial and operational challenges.

Onconetix had previously announced plans to merge with Ocuvex, aiming to leverage the latter's ophthalmic innovations to expand its product portfolio. However, the companies have now mutually terminated the merger agreement, citing a mutual decision to pursue independent paths. This decision reflects Onconetix's commitment to advancing its core mission in men's health and oncology, while Ocuvex remains focused on its ophthalmic innovations.

The termination of the merger and the settlement with Veru are part of Onconetix's broader strategy to streamline operations and reduce debt. The company has been working to optimize its financial structure and reduce net debt, which currently stands at $798 million. The settlement with Veru is expected to further alleviate financial pressures, as it resolves an outstanding debt of $8.8 million.

Onconetix's stock has shown mixed performance over the past year, with a significant decline of 94.04% since January 2023. However, recent developments, including the private placement and the resolution of the debt with Veru, suggest a renewed focus on financial stability and operational efficiency. The company's stock price has been volatile, with a 5-day change of +0.63% as of September 25, 2025.

Looking ahead, Onconetix will continue to focus on its core products, including Entadfi, a once-daily oral treatment for benign prostatic hyperplasia (BPH), and Proclarix, an advanced diagnostic system for prostate cancer. The company is also exploring opportunities to expand its diagnostic and prognostic tools through its subsidiary, Proteomedix.

Onconetix's financial health and operational strategy will continue to be closely watched by investors and industry observers. The company's ability to execute its strategic plan and navigate through current challenges will be crucial in determining its future trajectory.