NeOnc Raises $15 Million At Market Adding Fuel to the Strong NEO100 Data

DENVER, Sept. 09, 2026 (GLOBE NEWSWIRE) -- (247marketnews.com) -- NeOnc Technologies Holdings (NASDAQ:NTHI) is entering a potentially important new phase with fresh institutional capital, encouraging Phase 2a data and a string of open-market insider purchases. The company announced a $15 million registered direct offering priced at-the-market under Nasdaq rules, involving new and existing healthcare-focused institutional investors. The deal includes 3.57 million shares, or pre-funded warrants in lieu of shares, plus warrants covering another 3.57 million shares at a $4.20 exercise price. Closing is expected tomorrow, subject to customary conditions.

The financing structure itself deserves attention. An at-the-market-priced registered direct can be considerably more attractive to existing shareholders than the deeply discounted financings frequently seen in small-cap biotechnology, where companies may issue stock well below the prevailing market price to entice investors. NTHI's transaction was instead priced at the market under Nasdaq rules, with warrants attached, giving the company capital without the headline discount that often accompanies distressed or highly dilutive biotech financings. The quality of the financing also removes a major cornerstone of the shorters’ thesis.

NeOnc is raising that money at a particularly interesting time. On August 12, the Company reported positive topline results from its NEO100 Phase 2a study in patients with recurrent or progressive Grade III and Grade IV IDH1-mutant glioma. Six-month progression-free survival was 48.9%, substantially above the prespecified 20% benchmark, with a reported p-value of 0.0047. Median overall survival was 26.09 months, while 86.7% of patients were alive at six months. Five of 24 patients remained on treatment, including one patient with a partial response continuing beyond 114 days.

The Phase 2a study was small and open-label, and additional clinical work, regulatory review and potentially a registrational trial remain ahead, as NeOnc plans to request a Type B meeting with the FDA to discuss a potential registrational pathway for NEO100. That meeting could become the next major catalyst because it may help establish what additional evidence regulators would require to move the program toward a potential approval.

The company is also developing NEO212, which completed Phase 1 and established a recommended Phase 2 dose of 610 mg. In June, NeOnc announced UAE IND approvals for NEO100 and NEO212, covering adult and pediatric development programs. NEO100 is an intranasal formulation of purified perillyl alcohol designed around the difficult challenge of delivering therapeutics to the central nervous system. NeOnc's broader NEO platform is intended to address the blood-brain barrier and other challenges associated with CNS drug delivery.

Then there is the insider activity. CEO Amir Heshmatpour has repeatedly been buying NTHI shares in the open market, including 15,000 shares in August. Those purchases represented approximately $58,600 of additional buying. Earlier purchases brought Heshmatpour's disclosed open-market investment to more than $500,000. Director Thomas Chen, M.D., Ph.D. also reported purchases of 33,787 shares on August 14 and another 2,472 shares on August 17.

That combination, new institutional financing, clinical data that exceeded the study's prespecified benchmark, an upcoming FDA regulatory discussion and substantial insider buying, creates a much more consequential setup than a simple biotech financing story.

The market's next question is increasingly straightforward: Can NeOnc turn its Phase 2a signal into a credible registrational strategy? If the FDA provides a pathway that management and investors view as achievable, the Company's latest financing could prove strategically important.

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