The company's financial position is deteriorating rapidly, with total assets contracting from $87.5 million in 2023Q4 to $14.8 million in 2026Q1.
| Total Current Assets | 4.33M | 6.07M | 950.27K | 5.84M | 26.26M | 3.07M | 4.6M | 6.06M |
| Cash & Short-Term Investments | 3.72M | 5.22M | 646.5K | 4.55M | 25.75M | 1.93M | 4.31M | 6.05M |
| Cash Only | 3.72M | 5.22M | 646.5K | 4.55M | 25.75M | 1.93M | 4.31M | 6.05M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 43.73K | 296.87K | 96.31K | 149.73K | 35.85K | 152.52K | 44.8K | 8.33K |
| Days Sales Outstanding | 55.18 | 132.89 | 13.93 | 934.78 | - | - | - | - |
| Inventory | 137.64K | 149.96K | 64.08K | 364.05K | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | 360.82 | 299.99 | 15.92 | 112.07 | - | - | - | - |
| Other Current Assets | 56.34K | 92K | 0 | 0 | 0 | 757.65K | 0 | 0 |
| Total Non-Current Assets | 10.5M | 18.86M | 27.23M | 81.68M | 52.71K | 11.5K | 215.6K | 21.93K |
| Property, Plant & Equipment | 74.26K | 85.86K | 182.32K | 209.2K | 14.09K | 11.5K | 15.67K | 6.93K |
| Fixed Asset Turnover | 10.82x | 9.50x | 13.84x | 0.28x | - | - | - | - |
| Goodwill | 10.2M | 18.55M | 27.05M | 55.68M | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 25.41M | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 250.31K | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 225K | 225K | -250.31K | 383.54K | 38.62K | 0 | 199.93K | 15K |
| Total Assets | 14.83M | 24.93M | 28.18M | 87.52M | 26.31M | 3.08M | 4.81M | 6.08M |
| Asset Turnover | 0.04x | 0.03x | 0.09x | 0.00x | - | - | - | - |
| Asset Growth % | -168.62% | -11.55% | -67.8% | 232.64% | 752.93% | -35.9% | -20.87% | - |
| Total Current Liabilities | 3.07M | 9.14M | 18.29M | 17.19M | 3.92M | 1.64M | 68.67K | 75.76K |
| Accounts Payable | 1.53M | 1.76M | 3.79M | 5.3M | 1.5M | 582.61K | 68.67K | 18.38K |
| Days Payables Outstanding | 4.68K | 3.52K | 941.08 | 1.63K | 81.05K | 43.49K | 8.2K | 11.71K |
| Short-Term Debt | 247.2K | 0 | 9.33M | 9.62M | 0 | 0 | 0 | 0 |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 1.02M | 7.05M | 230.04K | 490.22K | 1.15M | 234.26K | 0 | 0 |
| Current Ratio | 1.41x | 0.66x | 0.05x | 0.34x | 6.69x | 1.88x | 66.94x | 79.98x |
| Quick Ratio | 1.37x | 0.65x | 0.05x | 0.32x | 6.69x | 1.88x | 66.94x | 79.98x |
| Cash Conversion Cycle | -4.26K | -3.08K | -911.23 | -583.26 | - | - | - | - |
| Total Non-Current Liabilities | 18.31K | 24.36K | 280.88K | 68.92M | 0 | 0 | 9.64K | 6.86K |
| Long-Term Debt | 18.31K | 24.36K | 0 | 118.86K | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 0 | 0 | 0 | 74.29K | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 3.07M | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 280.88K | 65.66M | 0 | 0 | 9.64K | 6.86K |
| Total Liabilities | 3.08M | 9.16M | 18.57M | 86.11M | 3.92M | 1.64M | 78.31K | 82.62K |
| Total Debt | 289.92K | 48.77K | 9.45M | 9.89M | 0 | 0 | 0 | 0 |
| Net Debt | -3.43M | -5.17M | 8.8M | 5.33M | -25.75M | -1.93M | -4.31M | -6.05M |
| Debt / Equity | 0.02x | 0.00x | 0.98x | 7.04x | - | - | - | - |
| Debt / EBITDA | -0.04x | - | - | - | - | - | - | - |
| Net Debt / EBITDA | 0.51x | - | - | - | - | - | - | - |
| Interest Coverage | -17.32x | -17.68x | -41.44x | -54.72x | - | - | - | - |
| Total Equity | 11.75M | 15.76M | 9.61M | 1.4M | 22.39M | 1.45M | 4.73M | 6M |
| Equity Growth % | 48.94% | 64.03% | 584.28% | -93.73% | 1447.65% | -69.44% | -21.08% | - |
| Book Value per Share | 18.69 | 4.80 | 85.01 | 79.75 | 1772.39 | 127.21 | 416.28 | 527.49 |
| Total Shareholders' Equity | 11.75M | 15.76M | 9.61M | -5.6M | 22.39M | 1.45M | 4.73M | 6M |
| Common Stock | 27 | 15 | 118 | 6 | 157 | 32 | 32 | 8 |
| Retained Earnings | -135.43M | -131.21M | -115.68M | -56.79M | -19.38M | -5.96M | -2.54M | -939.87K |
| Treasury Stock | -625.79K | -625.79K | -625.79K | -625.79K | -566.81K | 0 | 0 | 0 |
| Accumulated OCI | -441.2K | -231.03K | -2.72M | 2.38M | 0 | 0 | 0 | -8 |
| Minority Interest | 0 | 0 | 0 | 7.01M | 0 | 0 | 0 | 0 |
Imminent liquidity and survival
As reported in recent financial statements, Onconetix has seen its total assets decline from $87.5 million in 2023Q4 to $14.8 million in 2026Q1, a contraction that reflects the aggressive depletion of resources as the company struggles to establish a sustainable commercial footprint for its primary therapeutic assets.
The consistent reduction in total assets suggests that the company is consuming its capital base to fund ongoing operating losses rather than investing in productive capacity. This downward trajectory indicates that the current business model is failing to generate the necessary internal returns to stabilize the balance sheet.
Based on the provided quarterly data, goodwill has decreased from a peak of $55.7 million in 2023Q4 to $10.2 million in 2026Q1, which suggests that the company is actively writing down the value of past acquisitions as the commercial performance of its assets fails to meet expectations.
The significant reduction in intangible assets implies that the initial strategic rationale for acquiring its current product portfolio may have been overly optimistic. Investors should monitor whether further impairments are required, as the current carrying value of goodwill may still be disconnected from the reality of the company's declining revenue.
According to the latest balance sheet, the current ratio has fluctuated significantly, reaching 1.41 in 2026Q1, yet this figure masks a precarious cash position of only $3.7 million that appears insufficient to support the company's high operating burn rate over the coming fiscal quarters.
While the current ratio shows a superficial improvement, the absolute cash balance remains dangerously low relative to the company's historical quarterly cash outflows. This suggests that the firm may be forced to seek dilutive financing or pursue emergency capital measures to maintain its status as a going concern.
As evidenced by the company's financial filings, the retained earnings balance has deteriorated to a deficit of $135.4 million as of 2026Q1, highlighting the persistent and substantial losses that have eroded shareholder equity and left the company with a fragile capital structure.
The deep and widening deficit in retained earnings indicates that the company has been unable to achieve profitability since its inception, relying instead on external capital to bridge the gap. This persistent erosion of equity suggests that the business model has yet to prove its fundamental viability in a competitive market.
Quick answers to the most common questions about buying ONCO stock.
As of 2025, Onconetix, Inc. (ONCO) had total assets of $24.9M including $6.1M in current assets.
Onconetix, Inc. (ONCO) carries total debt of $0.0M, offset by $5.2M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Onconetix, Inc. (ONCO) has total shareholders' equity (book value) of $15.8M ($4.80 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Onconetix, Inc. (ONCO) reported a current ratio of 0.66x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.