aibioOnconetix directors Oakley and Meier resign; Dorf named chairman
Tickers ONCO
Josh Epstein joined the board on April 23, 2026 and chairs its Nominating and Corporate Governance Committee. The 8-K says neither resignation involved a disagreement with management.
Key facts
- Company
- Oncopeptides AB (OMXSTO: ONCO)
- News type
- Company Updates
- Primary source
- Onconetix, Inc. 8-K (2026-04-24)
Onconetix, Inc. (Nasdaq: ONCO) reported board changes in a Form 8-K filed April 24, 2026. Andrew Oakley and Thomas Meier notified the board of their resignations, effective April 20, 2026. Mr. Oakley also resigned as chairman of the board and from his service on the Audit Committee, the Compensation Committee and the Nominating and Corporate Governance Committee. Mr. Meier also left the Compensation Committee. The filing says neither departure resulted from a disagreement with management or the board on any matter relating to the company's operations, policies or practices.
The board then appointed Sammy Dorf, an existing director, as chairman effective April 23, 2026. The Compensation Committee agreed to pay Mr. Dorf $20,000 per year, payable quarterly, starting on the date of his election as chairman.
A new director
Effective April 23, 2026, the board elected Josh Epstein as a director. He is a Class II director and will serve until the company's 2026 annual meeting of stockholders. He also joined the Audit Committee and the Compensation Committee and became chair of the Nominating and Corporate Governance Committee. For his board service he will receive compensation consistent with that of other non-employee directors.
The filing describes Mr. Epstein as a senior executive and legal professional with more than 20 years of experience across the energy, mining, technology, healthcare, cannabis, blockchain, gaming and autonomous-systems industries. Since December 2025 he has held a corporate development, capital markets and legal role at Mariana Minerals Co., a mining technology company. Since October 2025 he has served as a board member of SRx Health Solutions, Inc. From November 2024 to December 2025 he was head of corporate development and on the board of managers of Lisbon Valley Mining Co. He began his career as an attorney with Baker Botts, LLP.
The filing says Mr. Epstein has no family relationships with any of the company's directors or executive officers. It also says he has no direct or indirect material interest in any transaction requiring disclosure under Item 404(a) of Regulation S-K, and that no arrangement with any other person led to his selection for the board.
Company background
Onconetix describes itself as a commercial stage biotechnology company focused on innovative solutions for men's health and oncology. Its main product is Proclarix, an in vitro diagnostic blood test for prostate cancer that it owns through the acquisition of Proteomedix, which closed on December 15, 2023. The annual report filed March 13, 2026 says the company is focusing its efforts on commercializing Proclarix. It also says the company abandoned commercialization of ENTADFI, an FDA-approved pill for BPH, and no longer holds inventory of that product.
The report says the company will continue to require significant additional capital to commercialize Proclarix and to fund operations for the foreseeable future. It expects to finance its cash needs through public or private equity or debt financings, third-party funding and collaborations, among other sources.
Financial position
SEC XBRL data reports revenue of $815,371 for the fiscal year ended December 31, 2025, compared with $2.5 million for 2024. Net loss was $14.0 million for 2025 and $58.7 million for 2024. Cash from operations was negative $9.7 million in 2025 and negative $10.5 million in 2024. These figures come from the annual report filed March 13, 2026.
What the changes leave open
The chairman and a second director left the board on the same day, and the filing gives no reason beyond saying there was no disagreement. The company loses two directors while it still depends on outside capital: revenue fell to $815,371 in 2025 from $2.5 million, and cash from operations was negative $9.7 million. Mr. Epstein's term runs only until the 2026 annual meeting of stockholders, and the chairman's quarterly fee started with his election. The filing sets out no further board changes.