FILTRIX Logo FILTRIX Find Your Edge →
← All insights

$ONCO -14.68% — what the base rate says

$ONCO -14.68% — what the base rate says

The division has already been done: $647K of cash over $673K a month of burn is 0.96 months, and the Sunday going-concern leaderboard post on $ONCO did it before anyone asked. Same post, same name: the last raise netted $249,600 with the rest of a headline '$30M' Series F described as non-cash credit, a $3.0 million loan went out to its own acquisition target while cash sat under $650K, and a fifth reverse split, per the post, lands Nov 6. Onconetix sits at -14.68% on the scan, a $3 million company with a four million share float.

The page I actually opened is its own. Twenty-seven prior Onconetix sessions opened down 5% or more. On those 27 mornings the median open-to-close move was -0.99%, the mean +0.09%, and 15 of the 27 closed below their own open, which is 56%. A median that says down and a mean that says flat on the same 27 days means a couple of mornings bounced hard enough to drag the average up while the rest leaked. That is what a four-million-share float produces: not a direction, a spread.

The Sunday version of the job is writing that spread down before Monday instead of discovering it at 9:47. Twenty-seven sessions is a sketch, and none of those 27 carried a fifth reverse split with under a month of cash behind it. What the split does to the share count is dated Nov 6 in the post; what the going-concern paragraph says next is in a filing the post does not date.

What the data showed

  • $FNGR -27.19% mcap $15M · float 67M shares · sector: SERVICES-PREPACKAGED SOFTWARE
  • $ONCO -14.68% mcap $3M · float 4M shares · sector: PHARMACEUTICAL PREPARATIONS

Open Onconetix's 27 gap-down mornings on FILTRIX.net and look at the spread between the median and the mean, not the average; the spread is where a four-million-share float actually lives.

Find Your Edge on FILTRIX →