NeOnc Technologies Secures Strategic PIPE Investment led by $10 Million Investment from Cinctive Capital Management

Rhea-AI Summary

NeOnc Technologies (Nasdaq: NTHI) announced a PIPE financing dated January 30, 2026 to sell up to 2,222,222 shares and five-year warrants to buy up to 2,222,222 shares at a $9.00 exercise price and a combined purchase price of $7.20.

The offering is expected to generate gross proceeds of up to $16 million, including a $10 million lead investment from Cinctive Capital Management. Net proceeds are intended for repayment of indebtedness and for working capital and corporate purposes.

Positive

• $16M potential gross proceeds for company liquidity
• $10M lead investment from institutional biotech investor
• Proceeds allocated to debt repayment and working capital

Negative

• Issuance of 2,222,222 shares may dilute existing shareholders
• Five-year warrants create potential additional dilution if exercised

Key Figures

PIPE common shares: 2,222,222 shares Warrant shares: 2,222,222 shares Warrant exercise price: $9.00 per share +5 more

8 metrics

PIPE common shares 2,222,222 shares Maximum common stock to be sold in PIPE

Warrant shares 2,222,222 shares Five-year warrants to purchase common stock

Warrant exercise price $9.00 per share Exercise price of five-year warrants

PIPE purchase price $7.20 per share Combined purchase price for share plus warrant

PIPE gross proceeds $16 million Expected maximum gross proceeds from PIPE

Lead investment $10 million Cinctive Capital Management lead PIPE investment

Pre-news price move -10.35% 1-day move ahead of PIPE press release

52-week range $3.20 – $25.00 52-week low and high before PIPE announcement

Market Reality Check

Price: $9.27 Vol: Volume 57,745 is slightly...

normal vol

$9.27 Last Close

Volume Volume 57,745 is slightly above the 20-day average of 55,845, indicating only modestly elevated trading ahead of the PIPE announcement. normal

Technical Shares at $8.75 are trading above the 200-day MA of $7.66, despite being 65% below the 52-week high of $25.00.

Peers on Argus

Scanner data shows no coordinated sector momentum. Several biotech peers (e.g., ...

Scanner data shows no coordinated sector momentum. Several biotech peers (e.g., ELTX, IPHA, CCCC, KYTX) show modest single-digit declines while TRDA is up, suggesting NTHI’s -10.35% move is more company-specific around the financing than part of a broad biotech rotation.

Historical Context

5 past events · Latest: Jan 09 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Jan 09	Coverage initiation	Positive	-3.5%	Stonegate Capital Partners initiated research coverage on NeOnc Technologies.
Dec 15	Clinical update	Positive	-3.2%	Updated NEO100 Phase 1/2a results in recurrent IDH1-mutant astrocytoma.
Dec 01	Preclinical findings	Positive	-4.7%	AI-driven data showed focused ultrasound enhances NEO100 antitumor potency.
Nov 14	Earnings and update	Neutral	-12.3%	Q3 2025 loss with partnerships, grants, and trial progress disclosed.
Nov 13	Trial enrollment	Positive	-24.1%	Completed enrollment in pivotal NEO100 Phase 2a trial with data expected Q2 2026.

Pattern Detected

Recent history shows repeated negative price reactions following generally positive clinical and strategic updates, with a sharper drop on mixed financials.

Recent Company History

Over the past few months, NeOnc has reported multiple positive milestones yet seen consistent negative price reactions. Coverage initiation on Jan 9, 2026, updated NEO100 clinical results on Dec 15, 2025, and AI-driven preclinical findings on Dec 1, 2025 all coincided with share declines. Q3 2025 results on Nov 14, 2025 highlighted substantial losses and going-concern language, also followed by a drop. Completion of NEO100 Phase 2a enrollment on Nov 13, 2025 preceded the largest decline, underscoring a pattern of selling into news.

Market Pulse Summary

This announcement highlights a structured PIPE financing that could provide up to $16 million in gro...

Analysis

This announcement highlights a structured PIPE financing that could provide up to $16 million in gross proceeds, led by a $10 million commitment from Cinctive Capital Management. The company plans to allocate funds toward debt repayment, working capital, and advancing CNS oncology trials. In light of prior filings citing substantial losses and going-concern uncertainty, investors may focus on execution of clinical milestones and future financing needs as key metrics to monitor.

Key Terms

private investment in public equity, pipe, warrants, exercise price, +4 more

8 terms

private investment in public equity financial

"entered into a securities purchase agreement for a private investment in public equity ("PIPE")"

Private investment in public equity occurs when investors buy shares directly from a company that is publicly traded, often at an early stage or at a discount, instead of purchasing them on the open market. This allows investors to acquire a stake more quickly and with potentially better terms, which can influence the company's future growth and stability—making it an important option for those seeking to support or benefit from a company's development.

pipe financial

"agreement for a private investment in public equity ("PIPE") for the purchase and sale"

A "pipe" is a planned series of financial transactions or projects that companies intend to carry out over time, often involving the raising of funds or development of new assets. It matters to investors because it provides a clear picture of a company's future growth plans and potential revenue, helping them assess the company's upcoming opportunities and overall stability. Think of it as a detailed roadmap guiding a company's future steps.

warrants financial

"and five-year warrants to purchase up to 2,222,222 shares of common stock"

Warrants are special documents that give you the right to buy a company's stock at a set price before a certain date. They are often used as a way for companies to attract investors or raise money, and their value can increase if the company's stock price goes up.

exercise price financial

"warrants to purchase up to 2,222,222 shares of common stock at a per share exercise price of $9.00"

The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.

central nervous system medical

"developing novel therapies for central nervous system (CNS) cancers"

The central nervous system (CNS) is the body's main control center, made up of the brain and spinal cord, that processes information and directs movement, sensation and basic functions like breathing. For investors, CNS-related products and research matter because they face long development times, strict safety testing and regulatory hurdles; success or failure can dramatically affect a company’s costs, timelines and potential market value.

cns medical

"developing novel therapies for central nervous system (CNS) cancers"

CNS stands for the central nervous system, the brain and spinal cord that control thought, movement and bodily functions. For investors, CNS-focused products and research matter because therapies aimed at this “delicate wiring” are scientifically challenging, often carry higher development and regulatory risk, and can take longer to prove safe and effective — but successful treatments also tend to command large markets and premium pricing.

phase 2 medical

"a multi-Phase 2 clinical-stage biopharmaceutical company developing novel therapies"

Phase 2 is the mid-stage clinical trial where a new drug or treatment is tested in a larger group of patients to see if it works and to keep checking safety after initial human testing. Think of it as a field test that proves whether a product actually delivers its promised benefit. Investors watch Phase 2 closely because its results strongly influence a medicine’s chances of reaching the market, the size of its potential sales, and the company’s valuation.

blood-brain barrier medical

"develop therapies designed to bypass the blood-brain barrier"

A protective barrier of tightly packed cells and supporting tissue that controls what substances in the blood can enter the brain, acting like a security checkpoint that keeps out most pathogens and many drugs while allowing essential nutrients through. For investors, the barrier matters because whether a therapy can cross or safely bypass it often determines clinical success, regulatory approval and commercial potential for treatments of brain disorders.

AI-generated analysis. Not financial advice.

Investment led by Cinctive Co-Founder Richard Schimel underscores institutional confidence in NeOnc’s biotech pipeline

CALABASAS, Calif., Jan. 30, 2026 (GLOBE NEWSWIRE) -- NeOnc Technologies Holdings, Inc. (Nasdaq: NTHI) (“NeOnc” or the “Company”), a multi-Phase 2 clinical-stage biopharmaceutical company developing novel therapies for central nervous system (CNS) cancers, today announced that it has entered into a securities purchase agreement for a private investment in public equity ("PIPE") for the purchase and sale of up to 2,222,222 shares of common stock and five-year warrants to purchase up to 2,222,222 shares of common stock at a per share exercise price of $9.00 at a combined purchase price of $7.20, that is expected to result in gross proceeds of up to approximately $16 million to the Company. NeOnc currently intends to use the net proceeds from the offering for repayment of indebtedness, and for working capital and corporate purposes.

The PIPE is led by a $10 million investment by Cinctive Capital Management LP, a multi-strategy investment firm with a focus on biotechnology and therapeutics. The transaction represents a significant vote of confidence from the firm's leadership, particularly Co-Founder and Co-Chief Investment Officer Rich Schimel. Building on this institutional endorsement, Cinctive’s leadership further underscores the strength of the investment.

Amir F. Heshmatpour, Executive Chairman, President & CEO of NeOnc Technologies Holdings, Inc., stated: “This strategic investment from a firm of Cinctive Capital’s caliber validates our technological approach and the potential of our clinical assets. Rich’s track record in identifying high-value opportunities is well recognized. We believe this capital will be instrumental as we accelerate our clinical trials and continue to develop therapies designed to bypass the blood-brain barrier."

Rich Schimel, Co-Founder and Co-Chief Investment Officer of Cinctive Capital Management LP, commented: “We see tremendous potential in NeOnc’s proprietary delivery platforms. Our firm seeks opportunities in small-to-mid-cap biotech companies that demonstrate true innovation, and NeOnc fits this profile well. Cinctive's commitment to recognizing value in unique opportunities is underscored by this transaction with NeOnc, following a similarly structured recent deal with Lifezone Metals. We are pleased to support their mission to improve outcomes for patients with CNS disease.”

This press release shall not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

ABOUT NEONC TECHNOLOGIES HOLDINGS, INC.


NeOnc Technologies Holdings, Inc. is a clinical-stage life sciences company focused on the development and commercialization of central nervous system therapeutics that are designed to address the persistent challenges in overcoming the blood-brain barrier. The company’s NEO™ drug development platform has produced a portfolio of novel drug candidates and delivery methods with patent protections extending to 2038. These proprietary chemotherapy agents have demonstrated positive effects in laboratory tests on various types of cancers and in clinical trials treating malignant gliomas. NeOnc’s NEO100™ and NEO212™ therapeutics are in Phase II human clinical trials and are advancing under FDA Fast-Track and Investigational New Drug (IND) status. The company has exclusively licensed an extensive worldwide patent portfolio from the University of Southern California consisting of issued patents and pending applications related to NEO100, NEO212, and other products from the NeOnc patent family for multiple uses, including oncological and neurological conditions.

For more about NeOnc and its pioneering technology, visit neonc.com.

ABOUT CINCTIVE CAPITAL MANAGEMENT LP AND RICHARD SCHIMEL

Cinctive Capital Management is an alternative investment multi-manager platform that uses sophisticated propriety quantitative and risk management tools to ensure our portfolio managers are positioned for success and bring the benefit of incremental diversification to the business. The firm is headquartered in New York at 50 Hudson Yards. For more information, see https://www.cinctive.com/.

Rich Schimel is the Co-Founder and Co-Chief Investment Officer of Cinctive Capital Management and has over 30 years of experience in the investment management industry. Previously, Mr. Schimel was Head of Aptigon Capital, a division of Citadel, where he served on the firm’s Portfolio Committee. Prior to Cinctive, Rich founded and served as Chief Investment Officer of Sterling Ridge Capital. Earlier in his career, Mr. Schimel co-founded Diamondback Capital, where he co-managed the firm and contributed to the firm’s overall investment strategy. Prior to Diamondback, he began his buy-side career at SAC Capital, where he was a portfolio manager. Rich started his career in fixed income at PaineWebber. Mr. Schimel graduated from the University of Michigan with a B.A. in Economics and currently serves as President of A Little Hope, a nonprofit organization focused on childhood grief counseling and bereavement support.

Important Cautions Regarding Forward Looking Statements


This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements can be identified by terminology such as “may,” “will,” “should,” “intend,” “expect,” “plan,” “budget,” “forecast,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” “evaluating,” or similar words. Statements that contain these words should be read carefully, as they discuss our future expectations, projections of future results of operations or financial condition, or other forward-looking information.

The “Risk Factors” sections of our periodic reports as filed with the Securities and Exchange Commission, along with other cautionary language in those report or in our subsequent filings, outlines important risks and uncertainties.

We assume no obligation to revise or update any forward-looking statements, whether as a result of new information, future developments, or otherwise, except as required by applicable securities laws and regulations.

“NEO100” and NEO “212” are registered trademarks of NeOnc Technologies Holdings, Inc.

Company Contact:
info@neonc.com

Investor Contact:
James Carbonara,
Hayden IR,
(646)-755-7412
James@haydenir.com

Media Contacts:

For Cinctive Capital Management LP

Steve Bruce/Mary Beth Grover, ASC Advisors, (203)-992-1230, sbruce@ascadvisors.com/mbgrover@ascadvisors.com

FAQ

What PIPE financing did NeOnc (NTHI) announce on January 30, 2026?

NeOnc announced a PIPE to sell up to 2,222,222 shares plus five-year warrants. According to the company, the combined purchase price is $7.20 per share position and the financing may yield up to $16 million in gross proceeds.

How much is Cinctive Capital investing in NeOnc (NTHI)?

Cinctive is leading the PIPE with a $10 million investment. According to the company, that commitment serves as the lead institutional funding in the transaction and signals confidence in NeOnc’s clinical-stage pipeline.

What will NeOnc (NTHI) use the PIPE proceeds for?

NeOnc intends to use net proceeds to repay debt and for working capital. According to the company, the funds are earmarked for repayment of indebtedness and general corporate purposes to support ongoing clinical activity.

What are the warrant and exercise terms in the NTHI PIPE deal?

The PIPE includes five-year warrants to buy up to 2,222,222 shares at a $9.00 exercise price. According to the company, warrants mirror the share count and extend potential future equity issuance if exercised.

How could the NTHI PIPE affect current shareholders?

The transaction may dilute existing shareholders due to new shares and warrants. According to the company, issuance of up to 2,222,222 shares and related warrants creates possible near-term and future dilution depending on subscription and exercise outcomes.