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Subscription Agreement | 3 Months Ended
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Mar. 31, 2026
Subscription Agreement [Abstract] |
Subscription Agreement | Note 7 — Subscription Agreement On December 18, 2023, the Company entered into a subscription agreement (the “Subscription Agreement”) with the PMX Investor, who became a stockholder of Onconetix at the closing of the PMX Transaction, for the sale of 1,176 units, each comprised of 1 share of common stock and 0.30 pre-funded warrants (the “Units”) at $4,250 per Unit. The Subscription Agreement includes a make-whole provision (the “Make-Whole Provision”) which requires the issuance of additional shares of common stock in the event that the 270-day volume weighted average price after the closing of the Subscription Agreement, is below $4,250, and the PMX Investor still holds the common shares acquired upon closing of the Subscription Agreement 270 days after such closing. The Subscription Agreement would only close upon obtaining stockholder approval for certain transactions involving the Company’s Series B Preferred Stock. The Subscription Agreement was amended on January 23, 2024 to include a provision for interest on the $5 million debenture, accruing at a rate of 4%, to be included in the calculation of the units to be issued upon the conversion. Stockholder approval was obtained on September 5, 2024, and as a result, the conversion and the issuance of 1,176 units, attributable to the Subscription Agreement, and 32 units, attributable to additional accrued interest under the debenture to the PMX Investor took place on September 24, 2024. As of March 31, 2026 and December 31, 2025, the fair value of the related party subscription agreement liability was $0. The change in fair value of the related party subscription agreement liability for the three months ended March 31, 2026 and 2025 was $0 and a decrease of $3,319,000, respectively.

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