What's Going On With Onconetix Shares On Friday?

Onconetix, Inc. (NASDAQ: ONCO) shares rose 71.74% to $5.53 in premarket trading on Friday, following the announcement of its acquisition of Realbotix, which aims to enhance Onconetix's capabilities in AI-driven technologies and robotics. The company also announced a 1-for-5 reverse stock split effective March 25. Despite the recent gains, shares have decreased 92.97% over the past year and are trading near their 52-week low of $2.19.