Onconetix Inc (NASDAQ:ONCO) shares are trading lower by 29.9% to 8 cents Friday after the company announced a 1-for-40 reverse stock split. The company announced that its stockholders approved all proposals at the 2024 annual meeting held on September 5. What Happened: These approvals included the election of Timothy Ramdeen and Ajit Singh as directors for a three-year term, amendments to the company’s 2022 Equity Incentive Plan to increase the number of shares issuable, and authorization for a reverse stock split at a ratio ranging from 1-for-30 to 1-for-60. The board chose a 1-for-40 ratio, …