Onconetix Inc. has released its financial results for the fiscal year ending December 31, 2024. The company reported a significant increase in revenue, reaching $2.52 million compared to $58,465 in the previous year, marking a 4217.3% surge. Despite this revenue growth, the company experienced a wider net loss of $58.69 million, compared to a net loss of $37.41 million in 2023, representing a 56.9% increase in losses. The increase in revenue was coupled with an increase in the cost of revenue, which rose to $1.47 million from $1.19 million, a 23.9% increase. As a result, the gross profit turned positive, with a gain of $1.06 million, compared to a gross loss of $1.13 million in the previous year, showing a significant improvement of 193.6%. Operating expenses saw a decrease, with selling, general, and administrative expenses dropping by 24.0% to $11.23 million from $14.77 million. Research and development expenses also saw a substantial decline of 92.1%, down to $154,359 from $1.95 million. The company did not provide specific guidance or outlook for future performance in this report.