NeOnc Technologies Holdings, a Phase 2 biotech developing intranasal and oral therapies for brain cancer, filed on Friday to register its shares with the SEC and complete a direct listing on the Nasdaq. The shares of common stock listed will be sold by existing shareholders; NeOnc Technologies will not raise new capital in its listing. The company did not disclose a reference price or anticipated timing of its listing.
This is NeOnc Technologies' second attempt to go public. The company previously filed for a traditional IPO on the Nasdaq, but ultimately withdrew the offering.
The Registered Stockholders plan to sell up to 2.1 million shares. NeOnc Technologies has agreements with investors to raise $10 million by issuing 625 thousand shares in a private placement at $16 per share.
NeOnc has two lead products in development. Its first candidate, NEO100, is a purified form of perillyl acid which is administered to brain cancer patients via intranasal delivery. The company is currently conducting a Phase 2a trial of NEO100 in recurrent malignant glioma patients, as well as a similar Phase 2a trial in patients with malignant skull-based meningioma. It expects a readout for its Phase 2 studies of NEO100 in 2025. Its second candidate, NEO212, is a covalently conjugated molecule combining the chemotherapeutic drug temozolomide with perillyl alcohol. The company initiated a Phase 1/2 trial of NEO212 as an oral therapy for patients with primary and secondary brain tumors in the 4Q23.
The Westlake Village, CA-based company was founded in 2008 and plans to list on the Nasdaq under the symbol NTHI. NeOnc Technologies Holdings filed confidentially on October 29, 2024. As a direct listing without a firm commitment offering, there are no underwriters on the deal; instead, RBW Capital Partners will serve as a financial advisor.
