Why Onconetix (ONCO) Stock Is Exploding Higher

Onconetix Inc (NASDAQ:ONCO) shares are trading higher by 33.6% to around 9 cents during Tuesday’s session after the company signed a non-binding letter of intent to potentially merge with privately held Ocuvex Therapeutics.

What To Know: The proposed deal would shift Onconetix's focus beyond oncology, adding Ocuvex's FDA-approved and late-stage ophthalmic treatments to its portfolio. Under the terms, Ocuvex shareholders would receive newly issued Onconetix stock and hold about 90% of the combined company.

Leadership from both firms expressed optimism, citing strategic growth and improved access to capital. The transaction remains subject to due diligence, regulatory approvals, financing and a final agreement.

Onconetix meanwhile says there is no guarantee the merger will be finalized.

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How To Buy ONCO Stock

Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in Onconetix’s case, it is in the Health Care sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

According to data from Benzinga Pro, ONCO has a 52-week high of $21.40 and a 52-week low of $0.06.