Onconetix, Inc. Reports Change in Certifying Accountant
Ticker: ONCO · Form: 8-K · Filed: 2024-10-21T00:00:00.000Z
Sentiment: neutral
Topics: auditor-change, corporate-actions
TL;DR
Onconetix switched accountants on Oct 15th. Keep an eye on their next financials.
AI Summary
Onconetix, Inc. (formerly Blue Water Biotech, Inc.) filed an 8-K on October 21, 2024, reporting a change in its certifying accountant as of October 15, 2024. The company, incorporated in Delaware, is located at 201 E. Fifth Street, Suite 1900, Cincinnati, Ohio.
Why It Matters
A change in a company's auditor can signal potential concerns about financial reporting or a strategic shift in how the company presents its financial health.
Risk Assessment
Risk Level: medium — Changes in certifying accountants can sometimes precede or coincide with financial irregularities or significant business changes.
Key Players & Entities
- Onconetix, Inc. (company) — Registrant
- Blue Water Biotech, Inc. (company) — Former Company Name
- October 15, 2024 (date) — Date of earliest event reported / Date as of change
- October 21, 2024 (date) — Filing Date
- 201 E. Fifth Street, Suite 1900, Cincinnati, Ohio 45202 (address) — Principal Executive Offices
FAQ
What is the primary reason for the change in Onconetix, Inc.'s certifying accountant?
The filing states that the change in certifying accountant was effective October 15, 2024, but does not provide specific reasons for the change in this 8-K filing.
When was the change in certifying accountant effective for Onconetix, Inc.?
The change in certifying accountant was effective as of October 15, 2024.
What was Onconetix, Inc. formerly known as?
Onconetix, Inc. was formerly known as Blue Water Biotech, Inc. and Blue Water Vaccines Inc.
Where is Onconetix, Inc. headquartered?
Onconetix, Inc. is headquartered at 201 E. Fifth Street, Suite 1900, Cincinnati, Ohio 45202.
What is the SEC file number for Onconetix, Inc.?
The SEC file number for Onconetix, Inc. is 001-41294.
Filing Stats: 940 words · 4 min read · ~3 pages · Grade level 15.1 · Accepted 2024-10-21 17:00:01
Key Financial Figures
- $0.00001 — ch Registered Common Stock, par value $0.00001 per share ONCO The Nasdaq Stock Mar
Filing Documents
- ea0218143-8k_onconetix.htm (8-K) — 34KB
- ea0218143-8kex16i_onconetix.htm (EX-16.1) — 2KB
- 0001213900-24-089338.txt ( ) — 208KB
- onco-20241015.xsd (EX-101.SCH) — 3KB
- onco-20241015_lab.xml (EX-101.LAB) — 33KB
- onco-20241015_pre.xml (EX-101.PRE) — 22KB
- ea0218143-8k_onconetix_htm.xml (XML) — 4KB
01 Changes in Registrant's Certifying Accountant
Item 4.01 Changes in Registrant's Certifying Accountant. On October 15, 2024, EisnerAmper LLP ("EA") submitted its resignation as Onconetix, Inc.'s (the "Company") independent registered public accounting firm, effective upon the Company's upcoming filing of its Quarterly Report on Form 10-Q for the quarter ended September 30, 2024. The Company's Audit Committee of the Board of Directors (the "Audit Committee") appointed EA to serve as the Company's independent registered public accounting firm on July 6, 2023 (the "Appointment Date"). EA's audit report on the Company's financial statements as of, and for the fiscal year ended December 31, 2023, dated April 11, 2024, did not contain any adverse opinion or a disclaimer of opinion, nor was it qualified or modified as to uncertainty, audit scope or accounting principles, other than that it contained an explanatory paragraph regarding the Company's ability to continue as a going concern. From the Appointment Date to the date of EA's resignation (the "Engagement Period), there were no disagreements between the Company and EA on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which disagreements, if not resolved to the satisfaction of EA, would have caused EA to make reference to the subject matter of the disagreements in connection with its audit reports on the Company's financial statements for such periods. During the Engagement Period, there were no "reportable events", as defined in Regulation S-K Item 304(a)(1)(v), except as previously disclosed in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2023 and the Company's Quarterly Reports on Form 10-Q for the periods ended March 31, 2024 and June 30, 2024, Company management identified certain material weaknesses in internal controls as follows: (a) the Company did not maintain an effective control environment with adequate segregation of duties with respect to cash
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits . Exhibit No. Document 16.1 Letter from EisnerAmper LLP, dated October 21, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Onconetix, Inc. October 21, 2024 By: /s/ Karina M. Fedasz Name: Karina M. Fedasz Title: Interim Chief Financial Officer