Onconetix, Inc. Announces Board and Compensation Changes
Ticker: ONCO · Form: 8-K · Filed: Jun 13, 2024 · CIK: 1782107
Sentiment: neutral
Topics: corporate-governance, executive-compensation, board-changes
TL;DR
Onconetix (ONCO) board shakeup and comp changes filed.
AI Summary
Onconetix, Inc. announced on June 8, 2024, a change in its board of directors and executive compensation arrangements. The company, formerly known as Blue Water Biotech, Inc. and Blue Water Vaccines Inc., is incorporated in Delaware and headquartered in Cincinnati, OH.
Why It Matters
Changes in a company's board and executive compensation can signal shifts in strategy, governance, or financial priorities.
Risk Assessment
Risk Level: low — This filing primarily concerns corporate governance and executive compensation, which typically have a low direct risk impact.
Key Numbers
- 001-41294 — SEC File Number (Identifier for Onconetix, Inc. filings)
- 20240608 — Report Date (Earliest event reported in the filing)
Key Players & Entities
- Onconetix, Inc. (company) — Registrant
- Blue Water Biotech, Inc. (company) — Former company name
- Blue Water Vaccines Inc. (company) — Former company name
- Delaware (jurisdiction) — State of incorporation
- Cincinnati, OH (location) — Business address
FAQ
What specific changes were made to the board of directors?
The filing indicates a change in directors but does not specify the names of departing or newly appointed directors in the provided text.
What are the details of the compensatory arrangements for certain officers?
The filing mentions compensatory arrangements of certain officers as an item of disclosure but does not provide specific details within the provided text.
When was the company formerly known as Blue Water Biotech, Inc.?
The date of the name change from Blue Water Biotech, Inc. to Onconetix, Inc. was April 24, 2023.
What is the company's Standard Industrial Classification (SIC) code?
The SIC code for Onconetix, Inc. is 2834, which corresponds to Pharmaceutical Preparations.
What is the fiscal year end for Onconetix, Inc.?
The fiscal year end for Onconetix, Inc. is December 31.
Filing Stats: 846 words · 3 min read · ~3 pages · Grade level 11.4 · Accepted 2024-06-13 16:35:33
Key Financial Figures
- $0.00001 — ch Registered Common Stock, par value $0.00001 per share ONCO The Nasdaq Stock Mar
Filing Documents
- ea0207635-8k_onconetix.htm (8-K) — 28KB
- ea020763501ex99-1_onconetix.htm (EX-99.1) — 24KB
- 0001213900-24-052469.txt ( ) — 232KB
- onco-20240608.xsd (EX-101.SCH) — 3KB
- onco-20240608_lab.xml (EX-101.LAB) — 33KB
- onco-20240608_pre.xml (EX-101.PRE) — 22KB
- ea0207635-8k_onconetix_htm.xml (XML) — 4KB
02 Departure of Directors or Certain
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On June 8, 2024, Bruce Harmon resigned as Chief Financial Officer of Onconetix, Inc. (the " Company "), effective immediately. The Company and Mr. Harmon entered into a release agreement (the " Release Agreement "), which provides for two months of severance payment. The foregoing description of the Release Agreement is qualified in its entirety by reference to the full text of such agreement, a copy of which is filed as Exhibit 99.1 to this Current Report on Form 8-K and incorporated herein by reference. On June 10, 2024, the Company appointed Karina M. Fedasz, 51, as Interim Chief Financial Officer of the Company, effective immediately. In connection with Ms. Fedasz's appointment, the Company also engaged CFO Squad LLC for certain accounting services, effective June 7, 2024. For more than two decades, Karina Fedasz has helped companies raise capital, model and forecast business, manage cash flow and conduct mergers and acquisitions. She is a dynamic, data-driven executive with a bold, high-growth mindset. From January 2023 to June 2024, Ms. Fedasz worked with various clients, including a not-for-profit and an early-stage artificial intelligence and data-driven health and wellness tracker. From February 2022 to December 2022, Ms. Fedasz served as Head of Business Development for Evofem Biosciences, a Nasdaq-listed public biotech company developing innovative products for women's health. From August 2019 to October 2021, Ms. Fedasz served in various positions of increasing responsibility, including Chief Financial Officer, at IDW Media Holdings, a micro-cap media company, where she managed the company's initial public offering. From April 2018 to August 2019, Ms. Fedasz served as Chief Financial Officer of MOCEAN, an integrated agency for entertainment, gaming, and brands. Ms. Fedasz's breadth of experience
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits 99.1 Release Agreement, dated June 10, 2024, between the Company and Bruce Harmon. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). 1 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Onconetix, Inc. Date: June 13, 2024 By: /s/ Ralph Schiess Ralph Schiess Interim Chief Executive Officer 2