NeOnc Fortifies Finances with New CAO Amid Critical Clinical Push

CALABASAS, Calif. – March 13, 2026 – NeOnc Technologies Holdings, Inc. (Nasdaq: NTHI) has appointed David Choi, a seasoned public accounting and finance expert, as its new Chief Accounting Officer. The move signals a strategic fortification of the company’s financial governance as it navigates the costly and complex later stages of clinical development for its novel brain cancer therapies.

In his new role, Mr. Choi will take the helm of NeOnc’s accounting, financial reporting, internal controls, and corporate governance functions. The appointment comes at a critical juncture for the clinical-stage biopharmaceutical firm, which is advancing multiple drug candidates through Phase 2 trials and preparing for significant corporate expansion.

“David’s extensive expertise in technical accounting and financial reporting for public companies comes at a pivotal time for NeOnc,” said Amir Heshmatpour, Chairman and CEO of NeOnc. “As we accelerate our clinical trials and prepare for the next stages of corporate growth, maintaining rigorous financial controls and governance is essential. David’s proven track record at top-tier advisory firms makes him an invaluable addition to our leadership team as we strive to deliver novel therapies to patients with CNS cancers.”

A Strategic Hire for a Maturing Company

For a clinical-stage company like NeOnc, which went public on the Nasdaq in March 2025, the transition from a purely research-focused entity to a mature, publicly traded enterprise requires a parallel evolution in its corporate infrastructure. The hiring of a CAO with deep public company experience is a clear indicator of this maturation process.

Financial filings show the typical profile of a growth-stage biotech: significant investment in research and development leading to net losses. For the six months ending June 30, 2025, NeOnc reported a net loss of over $38 million. To fuel its operations, the company has been active in capital markets, recently securing a $10 million PIPE investment from Cinctive Capital Management and an upsized stock-warrant financing agreement in January 2026.

These activities, combined with the immense cost of running multiple advanced clinical trials, underscore the necessity for the stringent financial oversight Choi is tasked with implementing. His appointment is seen by industry observers as a proactive measure to build investor confidence and ensure the company’s financial foundation is robust enough to support its ambitious scientific goals.

“I am honored to join NeOnc at such an exciting inflection point in its development,” said Mr. Choi. “NeOnc is doing vital work in the fight against aggressive brain cancers, and I look forward to applying my experience in financial infrastructure and compliance to support the Company’s strategic objectives. My focus will be on ensuring we have the robust financial foundation necessary to support our clinical advancements and drive long-term value for our shareholders.”

The Architect of Accountability

Mr. Choi brings a formidable resume tailored to the specific challenges NeOnc faces. With more than a decade of experience, his career has been centered on the complex financial environments of public and private companies. He is a Certified Public Accountant (CPA) and holds a Master of Professional Accountancy from the University of California, Irvine.

Prior to joining NeOnc, he served as a Director at Blythe Global Advisors, a firm specializing in accounting and advisory services. There, he guided companies through the intricacies of SEC reporting and Sarbanes-Oxley (SOX) compliance—a critical and resource-intensive requirement for all public companies. His work involved leading financial reporting transformations and advising on the accounting for complex transactions such as equity instruments, debt financing, and business combinations, all of which are common in the biotech sector.

His earlier career included roles at major accounting firms Grant Thornton and Ernst & Young, where he honed his skills in financial statement audits and advisory services. This background provides him with a comprehensive understanding of the internal controls and reporting frameworks necessary to operate transparently and effectively in the public markets. For NeOnc, this expertise is not just a matter of compliance but a strategic asset that can help streamline operations and de-risk future growth initiatives.

Beyond the Lab: Financial Leadership as a Driver of Innovation

The modern biopharmaceutical landscape demands more than just scientific breakthroughs. The path from the laboratory to the patient is paved with significant financial and regulatory hurdles. The industry has increasingly recognized that strong financial stewardship is as critical to success as the underlying science. The trend across biotech is a heightened demand for seasoned financial executives who can navigate capital markets, manage cash burn, and instill a culture of fiscal discipline.

Appointing a CAO with Choi’s credentials aligns NeOnc with this best practice. His role will be central to managing the substantial costs of its clinical programs, ensuring accurate accounting of R&D expenses, and maintaining the robust internal controls required by SOX. This financial rigor is essential for maintaining the trust of investors who are funding the company's long-term vision.

By building a sturdy financial and governance framework, NeOnc is better positioned to secure future funding, explore strategic partnerships, and ultimately prepare for potential commercialization should its therapies receive regulatory approval. The move demonstrates to the market that the company's leadership understands that sustainable innovation is built on a dual foundation of scientific excellence and operational integrity.

Fueling the Fight Against Aggressive Brain Cancers

The ultimate purpose of this corporate fortification is to support NeOnc’s mission: developing treatments for central nervous system (CNS) cancers, a notoriously difficult area of oncology. The company’s core strategy revolves around its proprietary NEO™ drug development platform, designed to overcome the persistent challenge of the blood-brain barrier, which prevents many drugs from reaching tumors in the brain.

Its lead candidate, NEO100™, is a purified version of perillyl alcohol administered intranasally. It is currently in a Phase 2 trial for high-grade meningioma and a Phase 1/2a study for recurrent high-grade glioma. The therapy has received Orphan Drug, Fast Track, and Rare Pediatric Disease designations from the FDA, highlighting the significant unmet need for the conditions it targets.

NeOnc’s other key asset, NEO212™, is a novel molecule that combines the standard chemotherapy agent temozolomide with perillyl alcohol. This dual-action compound is designed to be more effective at crossing the blood-brain barrier and attacking cancer cells. It is currently in a Phase 1/2 trial for patients with various types of brain tumors, including glioblastoma and brain metastases from other cancers.

Advancing these promising therapies through late-stage clinical trials is a capital-intensive endeavor. The strategic appointment of David Choi is a critical step in ensuring the company has the financial discipline and robust governance structure required to see these programs through to their next major milestones, bringing potentially life-changing treatments one step closer to the patients who need them.