NeOnc Technologies Holdings Inc (NASDAQ: NTHI) is a clinical-stage biopharmaceutical company developing drug candidates for oncology indications. Revenue is minimal and not derived from commercial product sales. The company reported revenue of $39,990 in FY2025 and $83,000 in FY2024, with the majority of funding coming from equity issuances and debt financing rather than product sales. NTHI holds a license agreement with the University of Southern California (USC) covering its lead candidate NEO100, and has sublicensed commercialization rights for NEO100 in certain territories to OEP under a collaboration agreement entered in November 2013. The company listed its common stock on the Nasdaq Global Market under the ticker NTHI on March 25, 2025 via a direct listing. NTHI has never declared or paid a cash dividend and reported a net loss of $62,146,210 for FY2025. As of March 30, 2026, there were approximately 383 holders of record of common stock.

Revenue model

Minimal revenue from licensing or grants. FY2025 revenue was $39,990 and FY2024 revenue was $83,000 per the 10-K filed 2026-03-31. Grant income of $71,247 was recorded in FY2025. Primary cash inflows have been equity placements and convertible debt, not product sales or royalties received.

Products and services

NEO100 is the lead licensed product candidate. Rights are held under a restated license agreement with the University of Southern California (USC). NTHI sublicensed commercialization rights for NEO100 in specified territories to OEP under an agreement entered November 8, 2013.

Customers and end markets

End market is oncology therapeutics. No commercial customers are identified in the filing excerpts. The company is pre-revenue in any material commercial sense as of FY2025.

Value-chain role

Licensee of university-derived drug IP (USC), developer of oncology drug candidates, and sublicensor of commercialization rights to collaboration partners such as OEP. Positioned upstream of commercialization, dependent on clinical development milestones and external collaborators.

Geographic exposure

Primary operations in the United States. The filing references GDPR compliance obligations suggesting some international regulatory exposure, but no specific geographic revenue breakdown is provided in the excerpts.

Source: SEC 10-K, filed 2026-03-31

Industry: Pharmaceutical Preparations