Nov 5, 2026, 5:00 PM ETHealthcare

NeOnc Technologies — Third Quarter 2026 Earnings Summary

NTHINEONC TECHNOLOGIES HOLDINGS INC

Financial Performance

Net loss for the quarter ended September 30, 2026, was $4.4 million, a 49% decrease from $8.6 million in Q3 2025.
Total operating expenses declined to $5.8 million in Q3 2026 from $6.9 million in Q3 2025; excluding $0.3 million in non-cash stock-based compensation, non-GAAP operating expenses were $5.6 million.
Research and development expenses were $1.3 million in Q3 2026, up from $0.7 million in Q3 2025.
General and administrative expenses decreased to $0.6 million in Q3 2026 from $0.9 million in Q3 2025.
Net loss attributable to common stockholders was $7.3 million ($0.28 per basic and diluted share) in Q3 2026, compared to $8.6 million ($0.45 per basic and diluted share) in Q3 2025.
Net loss for the nine months ended September 30, 2026, was $27.5 million, compared to $46.6 million for the same period in 2025.
Net cash used in operating activities was $16.8 million for the nine months ended September 30, 2026, consistent with the prior year period.
Cash and cash equivalents increased to approximately $6.2 million as of September 30, 2026, from approximately $2.0 million as of June 30, 2026.
The company maintained an undrawn $10.0 million line of credit with HCWG and had approximately $73.8 million available under its at-the-market offering program.

The company plans to present updated data for NEO100 and NEO212 at the Society for Neuro-Oncology Annual Meeting on November 13, 2026.
NEO212 is advancing toward Phase 2 development following FDA feedback on its CMC program and transition from capsule to tablet formulation.
The company indicated it will require substantial additional capital to fund operations, noting that such capital may not be available on acceptable terms or at all.
Future clinical studies for NEO100 and NEO212 are subject to regulatory requirements, and no marketing approval is assured.

NEO100: Phase 2a results for recurrent IDH1-mutant high-grade glioma met the primary endpoint with a six-month progression-free survival of 48.9% versus a 20% benchmark (p = 0.0047); median overall survival was 26.09 months with 60.9% survival at 12 months and 54.1% at 24 months. No major toxicities were reported.
NEO212: Phase 1 data on safety, pharmacokinetics, and early activity in TMZ-resistant recurrent glioblastoma and brain metastases will be presented at the SNO Annual Meeting.
Abu Dhabi Operations: Received Investigational New Drug authorizations for NEO100 and NEO212 in June 2026; entered an MoU with the Department of Health – Abu Dhabi to advance CNS oncology research and clinical capabilities.
Pediatric Development: The NEO100-03 pediatric trial is ongoing.

The company highlighted the blood-brain barrier as a primary challenge in treating brain cancer, positioning its intranasal approach as a solution.
The company is expanding its international presence through collaborations in the Emirate of Abu Dhabi.

NEO100 and NEO212 are investigational and have not been approved by any regulatory authority.
The NEO100 Phase 2a study was a single-arm, open-label study not powered as a confirmatory trial.
Compassionate use observations in a single patient do not establish causality for NEO100's efficacy.
The MoU with the Department of Health – Abu Dhabi is not binding and is subject to separate agreements and approvals.
The company faces risks regarding the availability of future capital on acceptable terms.

Executive Chairman and CEO Amir F. Heshmatpour described the quarter as a period of "meaningful progress" regarding clinical programs, the balance sheet, and international presence.
Management expressed encouragement regarding the work ahead to bring new approaches to patients with brain cancer.
The tone emphasized the elimination of potential shareholder dilution through the redemption of Series A Convertible Preferred Stock.

Capital Raise: Closed a registered direct offering on September 10, 2026, raising approximately $15 million in gross proceeds.
Preferred Stock Redemption: Redeemed all 6,000 outstanding shares of Series A Convertible Preferred Stock for approximately $5.8 million in cash, eliminating potential dilution.
Insider Purchases: CEO Amir F. Heshmatpour and Dr. Thomas C. Chen purchased a combined 160,016 shares for approximately $629,000 following Phase 2a results.
Board Appointments: Added Nasim Shomali (effective July 1, 2026) and Ali Alabedin (effective October 9, 2026) to the Board of Directors.
Non-GAAP Adjustments: Q3 2026 net loss included $2.8 million of noncash deemed dividends related to the Series A redemption and a down-round adjustment on previously issued warrants.