NeOnc Technologies Holdings, a Phase 2 biotech developing intranasal and oral therapies for brain cancer, announced the effectiveness of its registration statement pursuant to a direct listing on the Nasdaq on March 26, 2025.
The company registered 2.1 million shares for sale by existing stockholders; NeOnc Technologies will not raise new capital in connection with the listing. The company did not disclose a reference price, and instead, prior to trading on Wednesday, Nasdaq will begin accepting buy and sell orders to generate an indicative current reference price. The company's financial advisor will determine when a reasonable amount of volume will cross on the opening trade such that sufficient price discovery has been made to open trading at the reference price.
The company most recently raised $10 million in a concurrent private placement to unaffiliated third parties at a price of $16.00 per share.
NeOnc had previously attempted to list via an IPO in March 2024, but withdrew the offering in June 2024.
Based in Westlake Village, CA, NeOnc Technologies (f/k/a NAS-ONC) is currently enrolling patients with recurrent malignant glioma in a Phase 2a trial for NEO100, a purified form of perillyl acid which is administered to brain cancer patients via intranasal delivery. Second candidate, NEO212, is a covalently conjugated molecule combining the chemotherapeutic drug temozolomide with perillyl alcohol; in 2023 the company initiated a Phase 1/2 trial of NEO212 as an oral therapy for patients with primary and secondary brain tumors including glioblastoma.
NeOnc Technologies Holdings plans to list on the Nasdaq under the symbol NTHI. As a direct listing without a firm commitment offering, there are no underwriters on the deal, and instead RBW Capital Partners, a division of Dawson James Securities, is acting as financial advisor.
