NeOnc board approves step toward $50M Quazar deal, MENA expansion; shares up 62%

5 hours ago 1

NeOnc Technologies (NASDAQ:NTHI) received board approval for its planned $50M equity deal with Quazar Investment.
The non-binding term sheet includes a $25/share capital raise, with 70% for stock purchase and 30% for MENA clinical expansion.
The deal aims to fund trials and infrastructure in the UAE and broader MENA region.
Remaining steps include forming NuroMENA and NuroCure, sublicensing key assets, and finalizing agreements and a two-year plan.
NeOnc has 120 days to complete all conditions for the transaction to close.
NTHI shares up nearly 62% premarket on Thursday.
Source: Press release