Correction: Onconetix Announces Financing Through a $2.0 Million Private Placement of Series C Preferred Stock and Warrants, Establishes a $25 Million Equity Line of Credit
Summary
(Nasdaq: ONCO) (Onconetix or the Company) (formerly (BWV)), a cancer diagnostics company focused on the research, development and commercialization of innovative solutions for oncology, today announced the signing and closing of a private placement of (i) 3,499 shares of the Companys Series C Convertible Preferred Stock, par value (the Series C Preferred Stock), and (ii) warrants (the Warrants) to acquire up to an aggregate of 591,856 additional shares of the Companys common stock, par value per share (the Common Stock), for aggregate gross proceeds of approximately .0 million. The Companys right to commence sales of Common Stock to the Purchaser are subject to certain conditions, including that a registration statement covering the resale of such shares is declared effective by the . Through our recent acquisition of , we own of Proclarix\xae, an in vitro diagnostic test for prostate cancer originally developed by and approved for sale in the (EU) under the In Vitro Diagnostic Regulation (IVDR), which we anticipate will be marketed in the as a lab developed test (LDT) through our license agreement with Labcorp. For more information, visit www.onconetix.com.Certain statements in this press release are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements (including, without limitation, the receipt of stockholder approval, the intended use of proceeds from the offering, and the anticipated results of the Companys sales and marketing efforts for its commercial stage products as described herein) are based on Onconetixs current expectations and actual results could differ materially.
Funding
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