NeOnc Secures $10 Million PIPE, Sets 610 mg NEO212 Phase 2 Dose, Plans FDA Meeting
NTHI•NeOnc set a 610 mg Phase 2 dose for NEO212 after Phase 1 escalation and plans a Type B FDA meeting; its NEO100 Phase 2a trial with a 24% remission rate awaits interim data in August. It secured $10 million in PIPE financing and cut Q1 net loss to $8.8 million.
1. NEO212 Phase 1 Completion and Phase 2 Planning
NeOnc completed the Phase 1 dose‐escalation for NEO212 and established 610 mg as the recommended Phase 2 dose. The company intends to request a Type B End‐of‐Phase 1 meeting with the FDA to finalize the design of a potentially pivotal registrational Phase 2 trial and explore accelerated approval pathways.
2. NEO100 Phase 2a Enrollment and Anticipated Data
The fully enrolled Phase 2a study in recurrent IDH1‐mutant high‐grade glioma continues to progress toward an interim data readout in August 2026. Earlier results demonstrated a 24% radiographic remission rate, 44% six‐month progression‐free survival and an absence of significant toxicity, reinforcing confidence in NEO100’s therapeutic potential.
3. Financial Results and Capital Raises
During Q1 2026, NeOnc secured $10 million in a PIPE financing anchored by Cinctive Capital and held $138,601 in cash as of March 31, 2026, with an undrawn $10 million credit line. The company reported a net loss of $8.8 million ($0.38 per share), down from $32.3 million, driven by reduced stock‐based compensation and advisory fees.
4. Leadership Appointments and Strategic Initiatives
NeOnc expanded its leadership team by appointing David Choi as Chief Accounting Officer and the CEO acquired $500,000 of additional shares in the open market. The company also advanced its Middle East strategic initiatives through NuroMENA and engaged investors and key opinion leaders via conference calls and media segments.
