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CALABASAS, Calif. - NeOnc Technologies Holdings, Inc. (NASDAQ: NTHI), a $142.5 million market cap biopharmaceutical company specializing in treatments for central nervous system (CNS) cancers, has announced the appointment of Josh Neman, PhD, as its Chief Clinical Officer (CCO). Trading at $7.49, the stock has shown significant volatility, according to InvestingPro data. Dr. Neman, previously at the University of Southern California (USC), is recognized for his work in cancer neuroscience and translational research.
In his new role at NeOnc, Dr. Neman will oversee the company’s clinical development strategy, focusing on four ongoing clinical trials, including the advanced Phase 2a trial of lead compound NEO100. This drug, which has completed enrollment ahead of schedule, is part of NeOnc’s efforts to develop treatments that penetrate the blood-brain barrier and precisely target brain malignancies. InvestingPro analysis indicates the company currently trades above its Fair Value, with analysts anticipating a sales decline in the current year.
Dr. Neman’s appointment is seen as a significant move in NeOnc’s mission to enhance therapeutic options for patients with CNS cancers. With an extensive background in neuro-oncological sciences, he is expected to bring valuable expertise to NeOnc’s research collaborations and contribute to the company’s goal of obtaining FDA approval for its innovative therapies. The company faces financial challenges, with InvestingPro data showing short-term obligations exceeding liquid assets and negative earnings of -$2.65 per share over the last twelve months.
The company is also exploring the integration of AI and quantum computing to improve its drug delivery platform. NeOnc holds a robust intellectual property portfolio, with 176 patents worldwide, reflecting its commitment to developing precision therapies for CNS cancers.
This announcement was made today, and it reflects the company’s strategic efforts to advance its clinical programs and strengthen its position in the biopharmaceutical industry. The information is based on a press release statement from NeOnc Technologies Holdings, Inc.
In other recent news, Neonc Technologies Holdings, Inc. has appointed CBIZ CPAs P.C. as its new independent registered public accounting firm for the fiscal year ending December 31, 2025. This change follows the resignation of the previous accounting firm, Marcum LLP, which occurred after CBIZ acquired Marcum’s attest business. The appointment of CBIZ was approved by Neonc Technologies’ Board of Directors’ Audit Committee. Marcum’s reports for the fiscal years ending December 31, 2024, and December 31, 2023, did not contain adverse opinions but included a note on the company’s ability to continue as a going concern. During Marcum’s tenure, material weaknesses in Neonc Technologies’ internal controls were identified, specifically concerning segregation of duties and information technology controls. Neonc Technologies has not consulted with CBIZ on accounting or auditing matters before their engagement. The company provided Marcum with a copy of the SEC filing and requested a letter confirming their agreement with the statements made, which Marcum has provided. No further details have been disclosed regarding the transition or reasons behind Marcum’s resignation.
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