Keystone Capital Partners, LLC has filed an amendment to its previous Schedule 13G, indicating a significant change in its ownership of Onconetix, Inc. The filing reveals that Keystone has reduced its beneficial ownership to below 5% of the pharmaceutical company's common stock, marking a notable shift in its investment strategy.

This reduction in ownership is particularly important as it reflects changing dynamics within the pharmaceutical preparations industry. As companies like Onconetix navigate market challenges, shifts in investor stakes can influence strategic decisions and overall market sentiment.

Background

Keystone Capital Partners, LLC is a Delaware limited liability company based in New York. The firm primarily engages in investment activities and has been involved in various filings with the SEC, including recent submissions related to its stake in Onconetix, Inc. Onconetix, which operates in the pharmaceutical preparations sector, has undergone recent changes, including a name change from Blue Water Biotech, Inc. in April 2023.

What the Filing Says

The recent Schedule 13G/A filing, dated November 5, 2026, indicates that Keystone Capital Partners beneficially owns 419,298 shares of Onconetix, representing approximately 6.32% of the company's outstanding shares as of September 30, 2026. However, the filing notes that Keystone, along with RANZ Group LLC and Fredric Zaino, has ceased to be the beneficial owner of more than 5% of the common stock.

"As of the date hereof, Keystone Capital Partners, LLC has ceased to be the beneficial owner of more than 5 percent of the common stock," the filing states.

Impact

This change in ownership could have implications for Onconetix, as Keystone's reduced stake means less influence over the company's strategic direction. Additionally, the pharmaceutical preparations industry may experience shifts in investor confidence as stakeholders reassess their positions in light of these developments.

What's Next

The filing does not say what happens next.