NeOnc Technologies Redeems All Outstanding Series A Convertible Preferred Stock

CALABASAS, Calif., Sept. 17, 2026 /CourierPR/ -- NeOnc Technologies Holdings, Inc., a biopharmaceutical company focused on developing therapies for central nervous system cancers, has completed a significant financial transaction. The company has redeemed all 6,000 outstanding shares of its Series A Convertible Preferred Stock for a total of $6 million. This action was funded with a portion of the net proceeds from a recent $15 million registered direct offering.

Amir F. Heshmatpour, NeOnc's Executive Chairman, President, and CEO, stated, "We made a deliberate decision to redeem the Series A Preferred Stock in cash and eliminate the potential dilution these securities represented for our shareholders. Our recent financing enabled us to retire all outstanding Series A Preferred Stock before its discounted conversion feature became available, simplifying our capital structure without issuing common shares in the redemption."

The Series A Preferred Stock was issued in June 2026 in a private placement for gross proceeds of $5 million. Under its terms, the company had the right to redeem all outstanding shares for cash at their stated value within four months of issuance. If the company had not redeemed the shares, the stated value would have increased by $166.67 per share, and the shares would have become convertible into NeOnc common stock at a conversion price equal to 80% of the lowest closing price during the five trading days prior to conversion, subject to a $1.00 floor price.

NeOnc Technologies Holdings, Inc. is a clinical-stage life sciences company focused on the development and commercialization of central nervous system therapeutics designed to address the challenges of 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. The company'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 redemption of the Series A Preferred Stock is part of NeOnc's ongoing efforts to manage its capital structure and focus on advancing its clinical programs. Heshmatpour added, "Disciplined management of shareholder capital remains central to our strategy as we advance NEO100 and NEO212. Our goal is to translate clinical progress into lasting value for patients and shareholders."

With this action, NeOnc has eliminated the potential for future dilution, simplifying its capital structure and providing clarity to its shareholders. The company's next steps will focus on continuing the advancement of its clinical programs and maintaining its commitment to developing innovative therapies for central nervous system cancers.