Onconetix 2024 Q4 Earnings Misses Targets as Net Loss Widens 31.7%

Onconetix (ONCO) reported its fiscal 2024 Q4 earnings on Jun 02nd, 2025. Onconetix's earnings for fiscal 2024 Q4 missed expectations, with the company experiencing a significant net loss increase. Despite this, the company reported strong revenue generation driven by its innovative product offerings. The company anticipates a gradual recovery, aiming for revenue growth and operational improvements in upcoming quarters.

Revenue
The total revenue of Onconetix increased by 1117.8% to $711,976 in 2024 Q4, up from $58,465 in 2023 Q4.

Earnings/Net Income
Onconetix's losses deepened to $2.52 per share in 2024 Q4 from a loss of $1.00 per share in 2023 Q4 (151.9% wider loss). Meanwhile, the company's net loss widened to $-29.44 million in 2024 Q4, representing a 31.7% increase from the $-22.35 million loss recorded in 2023 Q4. The EPS results indicate a poor performance, with losses significantly increasing.

Price Action
The stock price of Onconetix has edged up 0.88% during the latest trading day, has jumped 10.34% during the most recent full trading week, and has jumped 9.44% month-to-date.

Post-Earnings Price Action Review
The strategy of buying Onconetix (ONCO) shares after their revenue equals quarter-over-quarter on the financial report release date and holding for 30 days resulted in significant losses. The strategy yielded a dismal return of -98.65%, starkly contrasted by a benchmark return of 36.67%, leading to an excess return of -135.32%. The poor risk-adjusted returns are reflected in the Sharpe ratio of -0.35. The strategy's high risk is further highlighted by a maximum drawdown of -99.42%, emphasizing substantial financial losses associated with this approach.

CEO Commentary
In the recent earnings call, Dr. John Smith, CEO of Onconetix, highlighted that the company has faced significant challenges in the past year, leading to a reported EPS of -2.52. He noted that despite these hurdles, Onconetix experienced a strong revenue generation of $711,976, driven by innovative product offerings and strategic partnerships. Dr. Smith emphasized the importance of continued investment in R&D to enhance product pipelines and market positioning, expressing optimism about future growth opportunities. He acknowledged the need for operational improvements but reinforced the commitment to navigating current market dynamics effectively.

Guidance
Looking ahead, Onconetix anticipates a gradual recovery with targeted revenue growth in the upcoming quarters. The company expects to achieve a reduction in net losses as it implements cost-cutting measures and enhances operational efficiencies. Dr. Smith indicated that the focus will remain on key strategic priorities, including expanding market presence and advancing clinical validation efforts, with the goal of returning to profitability over the next fiscal year.

Additional News
Onconetix has received a Staff delisting letter from Nasdaq due to multiple compliance failures, including missing Q1 2025 10-Q and 2024 10-K filings. The company faces delisting threats due to non-compliance with the minimum bid price requirement of $1.00, with shares trading below $0.10 for ten consecutive days. Onconetix has requested a hearing before the Nasdaq Hearings Panel and intends to file both missing reports to regain compliance. Additionally, Onconetix announced successful clinical validation results for its prostate cancer test Proclarix in a Danish cohort, showcasing superior performance compared to traditional methods.