California-based NeOnc Technologies Holdings, Inc. (Nasdaq: NTHI) announced a USD 15 million registered direct offering on September 9, 2026, with proceeds directed toward advancing its two central nervous system (CNS) cancer therapeutics through ongoing Phase II trials. The timing follows positive topline Phase IIa data for NEO100 reported in August 2026, which demonstrated a 48.9% six-month progression-free survival rate in recurrent IDH1-mutant high-grade glioma patients.
The offering was priced at-the-market under Nasdaq rules at USD 4.20 per share, with 3,571,430 shares of common stock to new and existing healthcare-focused institutional investors. Each share was accompanied by a warrant to purchase one additional share at USD 4.20, exercisable immediately and expiring five years from issuance. Pre-funded warrants were available in lieu of common stock at USD 4.1999 per unit. Gross proceeds are estimated at USD 15 million before placement agent fees. Roth Capital Partners and A.G.P./Alliance Global Partners acted as co-placement agents.
NeOnc's two lead assets — NEO100, an intranasal perillyl alcohol formulation, and NEO212, a temozolomide-perillyl alcohol conjugate — are both in Phase II trials for malignant gliomas and hold FDA Fast-Track status. NeOnc said proceeds will support continued clinical development across both programs. The company also holds an exclusive worldwide patent license from the University of Southern California covering NEO100, NEO212, and related compounds, with patent protections extending to 2038.
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