12:44 PM EDT, 09/20/2024 (MT Newswires) -- Onconetix ( ONCO ) said Friday that it will implement a 1-for-40 reverse stock split of its shares to help regain compliance with the minimum bid price requirement of $4.00 per share for initial listing on the Nasdaq Capital Market.

The shares will begin trading on a reverse stock split-adjusted basis on Sept. 24, the company said.

Shares of the company fell more than 22% in recent trading.

Price: 0.09, Change: -0.03, Percent Change: -22.25