Detailed financial statements for Onconetix, Inc. (ONCO): income statement, balance sheet and cash-flow summary. Track margins, debt, liquidity and profitability trends year over year with up to 20 years of history.
Onconetix, Inc. operates as a biotechnology and pharmaceutical firm, committed to pioneering and bringing to market innovative treatments aimed at resolving critical health issues worldwide. The company's product lineup includes Entadfi, an FDA-cleared, once-daily oral medication. This prescription drug combines finasteride and tadalafil to manage benign prostatic hyperplasia (BPH).
Analysis Summary
Trailing-twelve-month margins: gross margin 80.4%, operating margin -12.7%, net margin -15.8%.
At the current price of $0.66, ONCO has negative trailing earnings (P/E not meaningful) and an ROE of -91.95%. Market capitalisation stands at $2M.
Balance sheet quality for ONCO: current ratio of 0.7, net cash position of $5.2M. A debt-to-equity below 1.0 typically signals conservative capital structure, while a current ratio above 1.5 indicates comfortable short-term liquidity.
Income Statement (10y)
| Year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 0 | $58465 | $2.5M | $815371 |
| Cost of Revenue | $573 | $3056 | $4890 | $6752 | $1.2M | $1.5M | $182458 |
| Gross Profit | -$573 | -$3056 | -$4890 | -$6752 | -$1.1M | $1.1M | $632913 |
| Research & Development | $60174 | $524908 | $1.3M | $4.1M | $1.9M | $154359 | -$66133 |
| Selling, General & Admin | $819485 | $1.1M | $2.1M | $9.4M | $14.8M | $11.2M | $7.0M |
| Operating Expenses | $879659 | $1.6M | $3.4M | $13.5M | $34.9M | $57.5M | $7.0M |
| Operating Income | -$880230 | -$1.6M | -$3.4M | -$13.5M | -$36.0M | -$56.5M | -$6.3M |
| EBITDA | -$821342 | -$1.6M | -$3.4M | -$13.4M | -$36.7M | -$57.6M | -$13.3M |
| Interest Expense | 0 | 0 | 0 | 0 | $671625 | $1.4M | $751005 |
| Pre-tax Income | -$821915 | -$1.6M | -$3.4M | -$13.4M | -$37.4M | -$59.7M | -$14.0M |
| Income Tax | 0 | 0 | 0 | 0 | -$12593 | -$1.0M | $525 |
| Net Income | -$821915 | -$1.6M | -$3.4M | -$13.4M | -$37.4M | -$58.7M | -$14.0M |
| EPS | $-0.02 | $-0.04 | $-0.09 | $-0.31 | $-25.03 | $-520.93 | $-4.73 |
| EPS (Diluted) | $-0.02 | $-0.04 | $-0.09 | $-0.31 | $-25.03 | $-520.93 | $-4.73 |
| Shares Outstanding (Diluted) | $11372 | $11372 | $11372 | $12632 | $17612 | $113050 | $3.3M |
Balance Sheet (10y)
| Year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $6.1M | $4.3M | $1.9M | $25.8M | $4.6M | $646500 | $5.2M |
| Short-term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Receivables | $8330 | $44805 | $152524 | $35850 | $149731 | $96308 | $296866 |
| Inventory | 0 | 0 | 0 | 0 | $364052 | $64079 | $149961 |
| Total Current Assets | $6.1M | $4.6M | $3.1M | $26.3M | $5.8M | $950267 | $6.1M |
| Property, Plant & Equipment | $6931 | $15667 | $11502 | $14089 | $209196 | $182323 | $85859 |
| Goodwill | 0 | 0 | 0 | 0 | $55.7M | $27.0M | $18.5M |
| Intangible Assets | 0 | 0 | 0 | 0 | $25.4M | 0 | 0 |
| Total Assets | $6.1M | $4.8M | $3.1M | $26.3M | $87.5M | $28.2M | $24.9M |
| Accounts Payable | $18377 | $68668 | $582605 | $1.5M | $5.3M | $3.8M | $1.8M |
| Short-term Debt | 0 | 0 | 0 | 0 | $9.6M | $9.3M | 0 |
| Total Current Liabilities | $75762 | $68668 | $1.6M | $3.9M | $17.2M | $18.3M | $9.1M |
| Long-term Debt | 0 | 0 | 0 | 0 | $118857 | 0 | $24362 |
| Total Liabilities | $82621 | $78310 | $1.6M | $3.9M | $86.1M | $18.6M | $9.2M |
| Retained Earnings | -$939870 | -$2.5M | -$6.0M | -$19.4M | -$56.8M | -$115.7M | -$131.2M |
| Total Equity | $6.0M | $4.7M | $1.4M | $22.4M | -$5.6M | $9.6M | $15.8M |
| Total Debt | 0 | 0 | 0 | 0 | $9.9M | $9.4M | $48774 |
| Net Debt | -$6.1M | -$4.3M | -$1.9M | -$25.8M | $5.3M | $8.8M | -$5.2M |
| Working Capital | $6.0M | $4.5M | $1.4M | $22.3M | -$11.4M | -$17.3M | -$3.1M |
Cash Flow (10y)
| Year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Net Income | -$821915 | -$1.6M | -$3.4M | -$13.4M | -$37.4M | -$58.7M | -$14.0M |
| Depreciation & Amortization | $573 | $3056 | $4890 | $6752 | $43937 | $731345 | $15170 |
| Stock-based Compensation | $3266 | $334837 | $130141 | $2.0M | $329760 | $438653 | $74267 |
| Change in Working Capital | -$7050 | -$468565 | $1.2M | $2.6M | $1.6M | -$1.5M | -$2.4M |
| Operating Cash Flow | -$825126 | -$1.7M | -$2.0M | -$8.7M | -$13.6M | -$10.5M | -$9.7M |
| Capital Expenditure | -$4500 | -$11792 | -$1924 | -$9339 | -$55044 | -$28471 | 0 |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Stock Repurchased | 0 | 0 | 0 | -$566810 | -$58981 | -$718 | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | -$206404 | 0 |
| Free Cash Flow | -$829626 | -$1.7M | -$2.0M | -$8.7M | -$13.6M | -$10.5M | -$9.7M |
Growth & Margins (10y)
| Year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Revenue Growth (YoY) | +4217.3% | -67.7% | |||||
| Net Income Growth (YoY) | -94.6% | -113.7% | -292.7% | -178.8% | -56.9% | +76.1% | |
| EPS Growth (YoY) | -88.2% | -121.4% | -251.6% | -7936.7% | -1981.3% | +99.1% | |
| Shares Change (YoY) | +0.0% | +0.0% | +11.1% | +39.4% | +541.9% | +2803.1% | |
| FCF Growth (YoY) | -110.0% | -17.5% | -324.4% | -57.0% | +22.8% | +8.0% | |
| Gross Margin | -1927.9% | 41.8% | 77.6% | ||||
| Operating Margin | -61634.5% | -2238.0% | -778.2% | ||||
| EBITDA Margin | -62784.1% | -2281.9% | -1626.9% | ||||
| Net Margin | -63986.5% | -2325.2% | -1721.0% | ||||
| FCF Margin | -23323.5% | -416.9% | -1187.0% | ||||
| Effective Tax Rate | -0.0% | -0.0% | -0.0% | -0.0% | 0.0% | 1.7% | -0.0% |
Per-Share Data (10y)
| Year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| FCF Per Share | $-72.96 | $-153.18 | $-179.94 | $-687.56 | $-774.25 | $-93.09 | $-2.95 |
| Dividends Per Share | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.83 | $0.00 |
| Shares Outstanding (Basic) | $11372 | $11372 | $11372 | $12632 | $17612 | $113050 | $3.3M |
What to look at in Biotech
Most small biotechs lose money. Analysing them with P/E makes no sense — look at cash and pipeline.
- Cash Runway — Months of cash at current burn rate. <18 months = urgent dilution risk
- Annual cash burn — Rate at which they burn operating cash. Compare with cash position to project runway
- Total Debt — Biotech with no revenue + debt = recipe for bankruptcy
- R&D / Market cap — How much they invest in pipeline vs the company value — research-intensity indicator
- Market cap / Cash — If it trades near its cash, the market assigns ~0 value to the pipeline — opportunity or trap
Profitability
| Return on Equity | -91.95% |
| Return on Invested Capital | -59.84% |
| Return on Assets | -62.07% |
| Gross Margin | 80.40% |
| Operating Margin | -1265.55% |
| Net Margin | -1578.79% |
Financial Health
| Debt / Equity | 0.01 |
| Current Ratio | 2.21 |
Key Ratios (10y)
| Year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| P/E | -459045698.92 | -243950000.00 | -110170967.74 | -600458.72 | -1344.86 | -5.14 | -16.49 |
| P/B | 18498.79 | 23440.75 | 76707.36 | 105.51 | -105.82 | 31.50 | 16.24 |
| P/S | 0.00 | 0.00 | 0.00 | 0.00 | 10139.74 | 119.92 | 313.95 |
| Gross Margin | 0.0% | 0.0% | 0.0% | 0.0% | -1927.9% | 41.8% | 77.6% |
| Operating Margin | 0.0% | 0.0% | 0.0% | 0.0% | -61634.5% | -2238.0% | -778.2% |
| Net Margin | 0.0% | 0.0% | 0.0% | 0.0% | -63986.5% | -2325.2% | -1721.0% |
Related companies: AZTR · ENVB · INDP · JSPR · PTIX · REVB · SCNI
Explore sector: Healthcare · Biotechnology
More sections of ONCO: Overview · Valuation · Statistics · Estimates · Technical · Ownership · News · Events
Discover more: Radar — undervalued stock signals · Investment Academy — learn to analyze stocks