Onconetix, Inc. ( ONCO ) shares are up during Friday’s premarket session.

On Wednesday, the company disclosed a significant announcement regarding its acquisition of Realbotix.

Details

Onconetix ( ONCO ) has previously entered into a definitive agreement to acquire Realbotix for an undisclosed amount.

The company expects the acquisition to enhance Onconetix’s capabilities in the rapidly evolving field of AI-driven technologies and robotics.

The company recently showcased its humanoid robot in a live pre-standard 6G over-the-air trial at Ericsson’s U.S. headquarters.

The demonstration highlighted Realbotix’s AI-agnostic architecture, allowing its humanoid robots to integrate seamlessly with various AI systems and cloud platforms.

This flexibility positions Realbotix as a key player in the future of enterprise robotics. This will drive significant value for Onconetix ( ONCO ) as it moves forward with the acquisition.

Additionally, this week, Onconetix ( ONCO ) announced a 1-for-5 reverse stock split, effective March 25.

Technical Analysis

The stock is currently trading 76% above its 20-day simple moving average (SMA) and 4.7% above its 50-day SMA, indicating short-term strength.

However, it remains 36.3% below its 100-day SMA and 60.5% below its 200-day SMA, suggesting longer-term challenges.

Shares have decreased 92.97% over the past 12 months and are positioned closer to their 52-week lows than highs.

ONCO Price Action: Onconetix ( ONCO ) shares were up 71.74% at $5.53 during premarket trading on Friday. The stock is near its 52-week low of $2.19, according to Benzinga Pro data.