<div id="readability-page-1">Onconetix Inc. ( ONCO ) shares soared 23.65% to $0.38 in after-hours trading on Monday. The Ohio-based biotechnology company reversed a steep 18.26% regular session decline, closing the stock at $0.31, according to Benzinga Pro data. <h2>Clinical Validation</h2> On May 13, Onconetix ( ONCO ) reported first-quarter 2026 operational progress from its fully-owned Swiss subsidiary, Proteomedix AG, developer of Proclarix, a CE-IVD certified blood test designed to identify clinically significant prostate cancer in combination with prostate-specific antigen (PSA) testing. Prostate cancer is the most commonly diagnosed cancer in men in most countries around the world and places a significant burden on patients and healthcare systems. A National Institutes of Health 2019 report found that in 2018, over 1 million new cases of prostate cancer were reported globally, accounting for 7.1% of all cancers diagnosed in men. According to the company, two new peer-reviewed publications from a Denmark-based clinical study reinforced Proclarix’s ability to reduce unnecessary biopsies and overdiagnosis, outperforming both %fPSA and the european randomized study of screening for prostate cancer risk calculator. Onconetix ( ONCO ) also initiated the PRIME Study, a multi-center U.S. validation trial conducted in collaboration with Labcorp Holdings Inc. The study targets up to 500 participants across diverse ethnic groups and represents a step toward launching a domestic lab-developed test. <h2>Trading Metrics, Technical Analysis</h2> Last week, Onconetix ( ONCO ) reported first quarter data, posting an earnings per share of negative $6.71 and revenue of $21,460. The company has a market capitalization of $3.54 million, a 52-week high of $42.08 and a 52-week low of $0.31. The small-cap stock of the commercial-stage company has dropped 99.11% over the past 12 months. The Relative Strength Index (RSI) of ONCO stands at 26.54. ONCO is currently positioned at its annual low. Benzinga's Edge Stock Rankings indicate that ONCO has a negative price trend across all time frames. &lt;figure class=&#34;wp-block-image aligncenter size-full is-resized&#34;&gt;<img width="437" height="267" src="https://imageproxy.pbkrs.com/https://editorial-assets.benzinga.com/wp-content/uploads/2026/05/19014818/image-487.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" original-src="https://imageproxy.pbkrs.com/https://editorial-assets.benzinga.com/wp-content/uploads/2026/05/19014818/image-487.png"/>&lt;/figure&gt; Photo Courtesy: Vintage Tone on Shutterstock.com Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors. Read Also: Bakkt (BKKT) Stock Jumps Over 16% After Hours: Here's Why The ICE-Backed Crypto Platform Is Trending Overnight </div>

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Onconetix Inc. (ONCO) shares surged 23.65% to $0.38 in after-hours trading, recovering from an 18.26% decline during the regular session. The company reported operational progress from its subsidiary, Proteomedix AG, and initiated the PRIME Study for a prostate cancer test. Despite a negative earnings per share of $6.71 and a market cap of $3.54 million, ONCO's stock has dropped 99.11% over the past year, currently positioned at its annual low.

Onconetix (ONCO) Stock Surges Over 23% Overnight: Why Is It Moving?