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

Onconetix Inc. (NASDAQ:ONCO) shares surged 23.65% to $0.38 in after-hours trading on Monday, reversing an 18.26% regular session decline. The biotech company reported clinical validation progress for Proclarix, a blood test for prostate cancer detection, with new peer-reviewed publications and initiation of a U.S. validation trial with Labcorp. However, the stock has dropped 99.11% over the past 12 months and currently trades at its annual low.