NeOnc Technologies Holdings Inc(US:NTHI)2025-11-14 21:01Financial Performance - The company reported a net loss of $8,615,920 for the three months ended September 30, 2025, compared to a net loss of $2,184,500 for the same period in 2024, representing an increase in loss of $6,431,420[143]. - The company incurred a net loss of $46,622,106 for the nine months ended September 30, 2025, compared to a net loss of $9,645,482 in 2024, an increase of $36,976,624[154]. - Revenue for the nine months ended September 30, 2025 was $39,990, down from $63,000 in the same period of 2024, a decrease of $23,010[154]. - As of September 30, 2025, the company had cash totaling $1,513,224, raising substantial doubt about its ability to continue as a going concern[171]. Operating Expenses - The total operating expenses for the three months ended September 30, 2025, were $6,934,647, an increase of $4,737,460 from $2,197,187 in 2024[143]. - Total operating expenses for the nine months ended September 30, 2025 were $44,583,513, compared to $5,091,790 in 2024, an increase of $39,491,723[154]. - General and administrative expenses increased significantly to $902,985 in the three months ended September 30, 2025, compared to $243,659 in 2024, reflecting an increase of $659,326[143]. - Research and development expenses for the three months ended September 30, 2025, were $715,038, a decrease of $241,687 from $956,725 in 2024[143]. - Legal and professional expenses fell to $276,378 in Q3 2025 from $496,803 in Q3 2024, a decrease of $220,425 due to the completion of the direct listing process[146]. - Interest expense for Q3 2025 was $869,815, compared to $0 in Q3 2024, primarily related to accrued interest for litigation and convertible notes[150]. Funding and Capital Requirements - The company entered into an agreement to sell common stock up to $10,000,000, closing on commitments for 625,000 shares at $16 per share[121]. - The company expects to finance its operations over the next 12 months primarily through existing cash balances and proceeds from private placements, supplemented by funds from a Line of Credit Agreement and sales under the Equity Purchase Agreement[175]. - The company may need to raise substantial additional funding to continue operations, which could lead to delays or reductions in research and development programs if capital is not raised on acceptable terms[174]. - Future capital requirements will depend on various factors, including costs of clinical trials, manufacturing, and regulatory reviews, as well as the ability to establish collaborations on favorable terms[175]. Research and Development - The company is developing NEO100 and NEO212, with NEO100 currently in Phase 2a trials and NEO212 having completed preclinical testing[119]. - The company anticipates significant increases in research and development costs as it advances its product candidates through clinical trials[135]. - The company expects expenses to increase due to ongoing research and development activities, including preclinical studies and clinical trials[174]. Market and Economic Conditions - The company does not currently face significant market risk related to foreign currency exchange rates, but future operations may be subject to fluctuations due to contracts with foreign vendors[179]. - Inflation has not had a material effect on the company's business or financial condition during the three and nine months ended September 30, 2025, or the year ended December 31, 2024[180]. Ownership and Equity - The company may face dilution of ownership interests if it raises additional capital through equity or convertible debt securities[176]. - If the company raises funds through collaborations or licensing arrangements, it may have to relinquish valuable rights to its technologies or future revenue streams[177]. - The company accounts for stock-based compensation in accordance with ASC 718, with estimates that can materially affect financial results[178].