NeOnc Technologies Holdings Inc. (NASDAQ: NTHI) announced that CEO Amir Heshmatpour purchased 35,000 shares on the open market on Monday for approximately $115,400 at an average price of $3.30 per share.
The purchase followed the announcement of a registered direct offering of $15 million, announced on September 9. Since the publication of the phase 2a results of the intranasal drug NEO100 on August 12, Heshmatpour has acquired 111,000 shares for about $418,700 at an average price of $3.77 per share. Founder, Chief Medical and Scientific Officer Thomas K. Chen also purchased 49,016 shares for approximately $210,000 during the same period. Together, both executives bought 160,016 shares on the open market for about $629,000, as reflected in Form 4 filed with the SEC.
"With my recent open market purchases, I have brought my total personal investment in NeOnc shares over the past year to more than $1.5 million," said Heshmatpour. The NEO100-01 phase 2a study reached its primary endpoint: six-month progression-free survival was 48.9% compared to a pre-established control benchmark of 20%. The median overall survival is 26.09 months.
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