On August 11, 2026 Legend Biotech Corporation (NASDAQ: LEGN) (Legend Biotech), a global leader in cell therapy, reported its second quarter 2026 unaudited financial results and key corporate highlights.

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"Our second quarter results demonstrate the strength of our commercial and innovation engines at Legend Biotech," said Alan Bash, Interim Chief Executive Officer of Legend Biotech. "CARVYKTI continued to deliver growth as we expand patient access globally, including the most recent launch in Ireland, our 19th market. Commercial momentum of CARVYKTI provides the foundation to advance a diversified portfolio of next-generation cell therapies designed to expand the reach and impact of CAR-T. During the quarter, we achieved a significant innovation milestone with the first-in-human clinical readout for LB2501, validating our in vivo CAR-T platform. These advances demonstrate the breadth of our pipeline across hematologic malignancies and solid tumors and our commitment to bringing transformational cell therapies to patients beyond multiple myeloma. Our focus remains the same. Ensuring continuity across the business, maintaining strong execution, and advancing the strategic priorities that position Legend Biotech for long term growth. With meaningful commercial and clinical momentum and a strengthened balance sheet, we remain confident in our ability to advance innovation and progress toward company-wide profitability."

Recent Data Highlights
LB2501 EHA (Free EHA Whitepaper) 2026 – in vivo CD19/CD20 dual targeting CAR-T

Achieved first clinical proof-of-concept with a 100% ORR (6/6) and 83.3% CR (5/6) at the higher dose level (DL2) following a single infusion in patients with relapsed or refractory B-cell non-Hodgkin lymphoma, with all responses ongoing at data cutoff.
Dose-dependent in vivo CAR-T expansion generated without lymphodepletion.
No dose-limiting toxicities, serious adverse events, immune effector cell-associated neurotoxicity syndrome (ICANS), or deaths were reported; infusion-related reactions and cytokine release syndrome (CRS) were Grade 1–2, and none required glucocorticoids for CRS management.
LB2102 ASCO (Free ASCO Whitepaper) 2026 – DLL3-targeted CAR-T therapy

Announced first-in-human data for LB2102, the Company’s investigational DLL3-targeted CAR-T therapy for relapsed or refractory small-cell lung cancer (SCLC) and large-cell neuroendocrine carcinoma (LCNEC). Legend has a license agreement with Novartis for the development, manufacture, and commercialization of LB2102 and other potential CAR-T therapies selectively targeting DLL-3.
At higher dose levels, LB2102 achieved an ORR of 28.6% and a DCR of 78.6%, with durable responses observed in some patients.
Demonstrated a manageable safety profile and encouraging clinical activity in heavily pretreated patients.
New CARTITUDE program data ASCO (Free ASCO Whitepaper) 2026

New CARTITUDE program data continued to support durable efficacy and a consistent safety profile for CARVYKTI in multiple myeloma, including sustained PFS/OS benefit across cytogenetic risk groups and a low incidence (1.2%) of immune effector cell-associated enterocolitis (IEC-EC).
Key Business Developments

Compared to the second quarter of 2025, CARVYKTI net trade sales increased 50% in the second quarter of 2026 to approximately $657 million, with U.S. net trade sales growth of 32% and ex-U.S. net trade sales growth of 128% year-over-year.
Launched CARVYKTI in Ireland, bringing availability to 348 global sites and 19 global markets.
Appointed Alan Bash, previously President of CARVYKTI, Interim Chief Executive Officer.
Closed public offering of 7,700,000 American Depositary Shares ("ADS"), with net proceeds of approximately $212 million, after deducting underwriting discounts and commissions and estimated offering expenses.
Cash and cash equivalents, and time deposits of approximately $965 million as of June 30, 2026, which Legend Biotech believes will provide financial runway beyond 2026, when Legend Biotech believes it will achieve a company-wide profit1.
Second Quarter 2026 Financial Results

Cash Position: Cash and cash equivalents, and time deposits were approximately $965 million as of June 30, 2026.

Collaboration Revenue: Collaboration revenue was $326.1 million for the three months ended June 30, 2026, compared to $219.7 million for the three months ended June 30, 2025. The increase of $106.4 million was due to an increase in revenue generated from sales of CARVYKTI in connection with the Janssen collaboration and license agreement (the "Janssen Agreement").

License and Other Revenue: License revenue was $61.4 million for the three months ended June 30, 2026, compared to $35.4 million for the three months ended June 30, 2025. The increase of $26.0 million was driven by milestones of $56.0 million achieved under the Janssen Agreement for the three months ended June 30, 2026, compared to no milestones achieved under the Janssen Agreement for the three months ended June 30, 2025.

This license increase was offset by a decrease in license revenue recognized in the three months ended June 30, 2026, under an exclusive agreement with a related party. No related party license revenue was recognized during the three months ended June 30, 2026 compared to $20.0 million in related party license revenue for the three months ended June 30, 2025.

Additionally, a decrease of $10.1 million from $15.4 million for the three months ended June 30, 2025 to $5.3 million for the three months ended June 30, 2026 was primarily attributable to revenue recognized pursuant to our license agreement with Novartis for the development, manufacture, and commercialization of LB2102 and other potential CAR-T therapies selectively targeting DLL-3 (the "Novartis License Agreement"). This revenue is recognized over time in connection with our Phase 1 clinical trial for LB2102.
Cost of Collaboration Revenue: Cost of collaboration revenue was $136.0 million for the three months ended June 30, 2026, compared to $94.9 million for the three months ended June 30, 2025. The increase of $41.1 million was primarily due to Legend Biotech’s share of the cost of sales in connection with CARVYKTI sales under the Janssen Agreement.

Research and Development Expenses: Research and development expenses were $96.0 million for the three months ended June 30, 2026 compared to $98.3 million for the three months ended June 30, 2025. The decrease of $2.3 million was primarily driven by lower expenditures in the cilta-cel clinical program as the patient dosing phases of major trials substantially concluded, partially offset by higher pipeline related research and development activities.

Administrative Expenses: Administrative expenses were $33.0 million for the three months ended June 30, 2026, compared to $32.6 million for the three months ended June 30, 2025, remaining relatively flat.

Selling and Distribution Expenses: Selling and distribution expenses were $63.4 million for the three months ended June 30, 2026, compared to $48.1 million for the three months ended June 30, 2025. The increase of $15.3 million was primarily due to higher commercial costs, including sales force expansion and Janssen-related marketing and market access activities, which rose with collaboration revenue.

Operating Income (Loss): Operating income for the three months ended June 30, 2026 was $57.7 million compared to operating loss of $21.9 million for the three months ended June 30, 2025. The year-over-year improvement of $79.6 million was primarily due to higher gross profit from CARVYKTI and higher license and other revenue.

Income Tax Expense: Income tax expense was $22.3 million for the three months ended June 30, 2026, compared to $0.6 million for the three months ended June 30, 2025. The increase of $21.7 million was primarily driven by an increase in taxable income across our U.S., Belgium and PRC entities. We continue to negotiate an advance pricing agreement with the Chinese Tax Authority, which will determine a transfer pricing methodology between its legal entities. Although a formal agreement has not yet been executed, we have reflected management’s best estimate of the expected tax consequences including the cumulative impact of a change in estimate based on the information available as of June 30, 2026.

While we have accrued for matters we believe are probable and estimable, the final outcome with a tax authority may result in a tax liability that is materially different from that reflected in the consolidated financial statements.
Net Income (Loss): Net income was $33.2 million for the three months ended June 30, 2026, compared to a net loss of $125.4 million for the three months ended June 30, 2025. The year-over-year improvement of $158.6 million was primarily driven by lower unrealized foreign currency exchange losses compared to the prior period, as well as improved operating performance reflecting higher gross profit from CARVYKTI.

Adjusted Net Income (Loss): Adjusted net income was $63.1 million for the three months ended June 30, 2026, compared to an adjusted net income of $10.1 million for the three months ended June 30, 2025. The year-over-year improvement of $53.0 million was primarily driven by improved operating performance, reflecting higher gross profit from CARVYKTI.

Webcast/Conference Call Details:

Legend Biotech will host its quarterly earnings call and webcast today at 8:00am ET. To access the webcast, please visit this weblink.

A replay of the webcast will be available on Legend Biotech’s website at View Source

(Press release, Legend Biotech, AUG 11, 2026, View Source [SID1234669982])

On August 11, 2026 Fennec Pharmaceuticals Inc. (NASDAQ:FENC; TSX: FRX), a specialty pharmaceutical company, reported its financial results for the second quarter ended June 30, 2026 and provided a business update.

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"Our second quarter reflects another period of strong execution across the business, highlighted by our seventh consecutive quarter of growth. We continue to build momentum by investing in the evidence that will shape the future of PEDMARK (sodium thiosulfate), with important data presented at ASCO (Free ASCO Whitepaper) and a growing pipeline of investigator-sponsored studies that we believe will further expand our understanding of its potential," said Jeff Hackman, chief executive officer of Fennec Pharmaceuticals. "As evidenced in our record EBITDA generation in the second quarter, we have a highly effective business model that is primed to optimize our anticipated growth while advancing our mission to improve outcomes for patients."

Business Highlights:

Continued Commercial Momentum Within Key PEDMARK Accounts: The first full quarter following the expansion of our commercial organization contributed to unprecedented enrollment in the second quarter. Through disciplined execution and now greater reach and frequency to engage with healthcare providers, demand grew across both new and existing accounts, further demonstrating the scalability of our commercial platform. Our commercial, patient services, and medical affairs teams continue to work closely together to help ensure a positive PEDMARK experience for both prescribers and patients throughout the treatment journey.
2026 American Society of Clinical Oncology (ASCO) (Free ASCO Whitepaper) Annual Meeting: New research evaluating PEDMARK across multiple patient populations and tumor types were shared as part of the 2026 American Society of Clinical Oncology (ASCO) (Free ASCO Whitepaper) Annual Meeting program. The four independently led studies build upon the established safety and efficacy of PEDMARK – currently approved for pediatric patients one month of age and older with localized, non-metastatic solid tumors, and recognized by the National Comprehensive Cancer Network with a 2A recommendation for use in adolescent and young adult patients – and help to expand understanding of the clinical utility of PEDMARK in Adolescent and Young Adult (AYA) and adult populations, where significant unmet need remains.
Upcoming Events:

H.C. Wainwright 27th Annual Global Investment Conference: Fennec will present at the conference to be held September 14 – 17, 2026, in NYC. The management team will also host one-on-one investor meetings at the conference.
Financial Results for the Second Quarter Ended June 30, 2026

Net Product Sales – For the second quarter of 2026, the Company recorded net product sales of approximately $17.1 million compared to $9.7 million in the second quarter of 2025. The increase in sales is attributable to growth across PEDMARK accounts including new accounts in the AYA population.
Selling and Marketing Expenses – The Company recorded $10.7 million in selling and marketing expenses in the second quarter of 2026 compared to $4.8 million in the second quarter of 2025. The increase is largely related to is largely related to the higher costs associated with the commercialization and increased awareness initiatives of PEDMARK and related expenses to support the expansion of our sales organization. Further, on a comparable basis, there was a reallocation of select general and administrative expenses to selling and marketing expenses in the second quarter of 2026 compared to the second quarter of 2025.
General and Administrative (G&A) Expenses – The Company recorded $4.6 million in general and administrative expenses in the second quarter of 2026 compared to $6.5 million in the second quarter of 2025. Thedecrease in general and administrative expenses for the three-month comparable periods due to lower legal and professional fees as select litigation activities concluded. Further, on a comparable basis, there was a reallocation of select general and administrative expenses to selling and marketing expenses in the second quarter of 2026 compared to the second quarter of 2025.
Non-GAAP adjusted EBITDA – The Company recorded $2.8 million in non-GAAP adjusted EBITDA in the second quarter of 2026 compared to non-GAAP adjusted EBITDA loss of $1.2 million for the same period in the prior year. A table reconciling non-GAAP measures is included in this press release for reference.
Cash Position – Cash and cash equivalents were $41.2 million as of June 30, 2026 compared to $40.1 million as of March 31, 2026. We anticipate that our cash, cash equivalents and investment securities as of June 30, 2026, combined with the projected revenues from PEDMARK, will be sufficient to fund our business based on our current operating plan.
Second Quarter 2026 Conference Call Information

Date: Tuesday, August 11, 2026
Time: 8:30 a.m. Eastern Time
Webcast Link: https://edge.media-server.com/mmc/p/2iptdco4
Participant Link: View Source

Financial Update

The selected financial data presented below is derived from our unaudited condensed consolidated financial statements, which were prepared in accordance with U.S. generally accepted accounting principles. The complete unaudited condensed consolidated financial statements for the period ended June 30, 2026, and management’s discussion and analysis of financial condition and results of operations will be available via www.sec.gov and www.sedar.com. All values are presented in thousands unless otherwise noted.

Unaudited Condensed Consolidated
Statements of Operations:
(U.S. Dollars in thousands except share and per share amounts)


Three Months Ended Six Months Ended
June 30, June 30, June 30, June 30,
2026
2025
2026
2025

Revenue
PEDMARK product sales, net $ 17,164 $ 9,652 $ 32,272 $ 18,403
Other revenue 710 — 710 —
Total revenue 17,874 9,652 32,982 18,403

Operating expenses:
Cost of product sales 721 967 1,291 1,340
Research and development 118 107 167 201
Selling and marketing 10,659 4,784 22,081 8,011
General and administrative 4,639 6,526 7,825 12,391

Total operating expenses 16,137 12,384 31,364 21,943
Income/(loss) from operations 1,737 (2,732 ) 1,618 (3,540 )

Other (expense)/income
Unrealized foreign exchange (loss)/gain (6 ) 17 (18 ) 30
Amortization expense — (13 ) — (26 )
Unrealized loss on securities — (1 ) — (2 )
Interest income 287 171 626 407
Interest expense (3 ) (594 ) (10 ) (1,186 )
Total other expense 278 (420 ) 598 (777 )
Income/(loss) before provision for income taxes 2,015 (3,152 ) 2,216 (4,317 )
Provision for income taxes 42 — 42 —
Net income/(loss) $ 1,973 $ (3,152 ) $ 2,174 $ (4,317 )

Basic net income/(loss) per common share $ 0.06 $ (0.11 ) $ 0.06 $ (0.16 )
Diluted net income/(loss) per common share $ 0.05 $ (0.11 ) $ 0.06 $ (0.16 )
Weighted-average number of common shares outstanding basic 34,545 27,664 34,596 27,621
Weighted-average number of common shares outstanding diluted 36,430 27,664 37,410 27,621

Fennec Pharmaceuticals Inc.
Balance Sheets
(U.S. Dollars and shares in thousands)

June 30, December 31,
2026
2025

Assets

Current assets
Cash and cash equivalents $ 41,249 $ 36,788
Accounts receivable, net 23,266 23,221
Prepaid expenses 3,635 3,738
Inventory 2,374 1,565
Other current assets 1,976 1,731
Total current assets 72,500 67,043

Non-current assets 3,253 3,508
Total assets $ 75,753 $ 70,551

Liabilities and stockholders’ deficit

Current liabilities:
Accounts payable $ 5,516 $ 4,635
Accrued liabilities 3,696 5,635
Contract liability-current 3,182 248
Total current liabilities 12,394 10,518

Long-term liabilities
Contract liability – long-term 20,917 24,561
Total long-term liabilities 20,917 24,561
Total liabilities 33,311 35,079

Stockholders’ deficit:
Common stock, no par value; unlimited shares authorized; 35,034 shares issued and outstanding (2025 ‑34,163) 193,190 189,906
Additional paid-in capital 75,257 73,745
Accumulated deficit (227,248 ) (229,422 )
Accumulated other comprehensive income 1,243 1,243
Total stockholders’ deficit 42,442 35,472
Total liabilities and stockholders’ deficit $ 75,753 $ 70,551

Reconciliation of Net Income/(Loss) to Adjusted EBITDA (Non-GAAP)
(U.S. Dollars in thousands)

Three Months Ended Six Months Ended
June 30, June 30, June 30, June 30,
2026
2025
2026
2025
Net income $ 1,973 $ (3,152 ) $ 2,174 $ (4,317 )
Provision for income taxes 42 - 42 -
Other revenue (a) (710 ) - (710 ) -
Interest income (287 ) (171 ) (626 ) (407 )
Interest expense 3 594 10 1,186
Depreciation and amortization - 13 - 26
Share based compensation expense (b) 1,774 1,494 2,764 2,292
Unrealized loss on securities - 1 - 2
Unrealized foreign exchange gain/(loss) 6 (17 ) 18 (30 )
Adjusted EBITDA $ 2,801 $ (1,238 ) $ 3,672 $ (1,248 )

(a) Represents the portion of GAAP revenue related to "material rights" under the Company’s PEDMARK license with Norgine that is non-cash in the current period and was previously recorded as deferred licensing revenue. Under ASC 606, a portion of the upfront consideration received under this agreement was allocated to a material right and recorded as deferred revenue (contract liability), which is subsequently recognized as revenue as PEDMARK units are shipped to Norgine and the related material right is satisfied. These amounts are included in GAAP revenue in the periods presented, and the Company continues to apply GAAP recognition and measurement for all revenue, including this component. The adjustment is intended solely to remove this non-cash amortization of previously deferred licensing revenue from Adjusted EBITDA, as management believes excluding this item provides a more comparable view of period-over-period cash operating performance from the Company’s commercial activities.
(b) Represents share-based compensation expense to account for stock options, restricted stock, and other stock awards over their respective vesting periods.

About Cisplatin-Induced Ototoxicity
Cisplatin and other platinum-based chemotherapies are widely used to treat solid tumors and have been vital in improving survival rates. Unfortunately, these life-saving treatments often result in permanent, irreversible hearing loss, also known as ototoxicity.1

Hearing loss from cisplatin treatment is not rare. Studies show that between 60-90% of patients treated with cisplatin may develop hearing loss, depending upon the dose and duration of chemotherapy.2 Many of those treated with cisplatin will require lifelong hearing aids or cochlear implants, which can be helpful for some, but do not reverse the hearing loss and can be costly over time.3 Treatment-induced hearing loss can reduce quality of survivorship as it impacts many aspects of life, such as speech and language skills, academic performance, social-emotional development, career potential and the ability to live independently.4,5 While audiologic monitoring is recommended to help manage ototoxicity, it is currently underutilized in certain cancer patient populations.

PEDMARK (sodium thiosulfate injection)

PEDMARK is the first and only U.S. Food and Drug Administration (FDA) approved therapy indicated to reduce the risk of ototoxicity associated with cisplatin treatment in pediatric patients 1 month of age and older with localized, non-metastatic, solid tumors. It is a unique formulation of sodium thiosulfate in single-dose, ready-to-use vials for intravenous use in pediatric patients. PEDMARK is also the first and only therapeutic agent with proven efficacy and safety data with an established dosing regimen, across two open-label, randomized Phase 3 clinical studies, the Children’s Oncology Group (COG) Protocol ACCL0431 and SIOPEL 6.

Additionally, PEDMARK is recommended for the adolescent and young adult (AYA) population by the National Comprehensive Cancer Network, or NCCN, with a 2A endorsement.

Approximately 500,000 patients in the U.S. are diagnosed annually with cancers that could be treated with a platinum-based chemotherapy.6,7 The incidence of ototoxicity depends upon the dose and duration of chemotherapy, and many of those treated will require lifelong hearing aids. Until the FDA approval of PEDMARK, there were no preventative agents for this hearing loss. Patients with hearing loss resulting from cancer treatment have a statistically significant worse quality of life compared with peers who have no hearing loss.8,9

PEDMARK has been studied by co-operative groups in two Phase 3 clinical studies of survival and reduction of ototoxicity, COG ACCL0431 and SIOPEL 6. Both studies have been completed. The COG ACCL0431 protocol enrolled childhood cancers typically treated with intensive cisplatin therapy for localized and disseminated disease, including newly diagnosed hepatoblastoma, germ cell tumor, osteosarcoma, neuroblastoma, medulloblastoma, and other solid tumors. SIOPEL 6 enrolled only hepatoblastoma patients with localized tumors.

Indications and Usage
PEDMARK (sodium thiosulfate injection) is indicated to reduce the risk of ototoxicity associated with cisplatin in pediatric patients 1 month of age and older with localized, non-metastatic solid tumors.

Limitations of Use
The safety and efficacy of PEDMARK have not been established when administered following cisplatin infusions longer than 6 hours. PEDMARK may not reduce the risk of ototoxicity when administered following longer cisplatin infusions, because irreversible ototoxicity may have already occurred.

Important Safety Information
PEDMARK is contraindicated in patients with history of a severe hypersensitivity to sodium thiosulfate or any of its components.

Hypersensitivity reactions occurred in 8% to 13% of patients in clinical trials. Monitor patients for hypersensitivity reactions. Immediately discontinue PEDMARK and institute appropriate care if a hypersensitivity reaction occurs. Administer antihistamines or glucocorticoids (if appropriate) before each subsequent administration of PEDMARK. PEDMARK may contain sodium sulfite; patients with sulfite sensitivity may have hypersensitivity reactions, including anaphylactic symptoms and life-threatening or severe asthma episodes. Sulfite sensitivity is seen more frequently in people with asthma.

PEDMARK is not indicated for use in pediatric patients less than 1 month of age due to the increased risk of hypernatremia or in pediatric patients with metastatic cancers.

Hypernatremia occurred in 12% to 26% of patients in clinical trials, including a single Grade 3 case. Hypokalemia occurred in 15% to 27% of patients in clinical trials, with Grade 3 or 4 occurring in 9% to 27% of patients. Monitor serum sodium and potassium levels at baseline and as clinically indicated. Withhold PEDMARK in patients with baseline serum sodium greater than 145 mmol/L.
Monitor for signs and symptoms of hypernatremia and hypokalemia more closely if the glomerular filtration rate (GFR) falls below 60 mL/min/1.73m2.

Administer antiemetics prior to each PEDMARK administration. Provide additional antiemetics and supportive care as appropriate.

The most common adverse reactions (≥25% with difference between arms of >5% compared to cisplatin alone) in SIOPEL 6 were vomiting, nausea, decreased hemoglobin, and hypernatremia. The most common adverse reaction (≥25% with difference between arms of >5% compared to cisplatin alone) in COG ACCL0431 was hypokalemia.

Please see full Prescribing Information for PEDMARK at: www.PEDMARK.com.

(Press release, Fennec Pharmaceuticals, AUG 11, 2026, View Source [SID1234669981])

On August 11, 2026 NeOnc Technologies (NASDAQ:NTHI) reported it is heading into Wednesday with the kind of setup that can put a clinical-stage biotech squarely on the market’s radar: a stock trading near its 52-week low, a relatively small trading float, more than 500,000 shares reported short, three Wall Street Buy ratings and a long-awaited brain-cancer data readout.

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The question is whether the clinical data can justify the attention.

NeOnc is scheduled to release topline Phase 2a results from its NEO100-01 trial at 8:30 a.m. ET on Wednesday, August 12, evaluating intranasal NEO100 in patients with recurrent or progressive Grade III and Grade IV IDH1-mutant glioma. The company says management will discuss efficacy and safety observations as well as planned regulatory next steps. The trial is fully enrolled.

For a stock recently trading around $3.50, the timing is significant.

A Stock Near the Bottom of Its Range

NTHI’s recent trading level is close to its approximately $3.01 52-week low, versus a $12.99 52-week high. Finviz currently shows the shares roughly 74% below that high and only modestly above the yearly low.

Wednesday’s data could provide the next major catalyst.

Unlike an earnings release or routine corporate update, a Phase 2a readout can directly change investors’ expectations for a drug’s clinical and commercial prospects. In NeOnc’s case, the readout concerns a program the company has already positioned as a central part of its development strategy.

NeOnc previously reported encouraging historical observations for NEO100, including a 24% radiographic remission rate in an expanded 25-patient cohort, 44% six-month progression-free survival, and 36% of patients alive at least 18 months after treatment initiation. Those figures are from earlier company-reported experience and should not be confused with Wednesday’s prospective Phase 2a topline results.

The Reported Float Is Small

The share structure adds another layer to the setup.

Finviz currently lists approximately 2.06 million shares in the public float, against roughly 24.13 million shares outstanding. It also reports approximately 520,000 shares short, a 25.33% short-float figure, and average volume of roughly 97,590 shares.

Other market-data providers calculate the float differently. StockAnalysis, for example, currently estimates a float of approximately 9.05 million shares, which would put the same 521,841-share short position at about 5.77% of float.

Regardless, that is more than half a million shares are reported short in a stock whose normal trading volume is relatively limited, so the short position represents over the highly sought-after 5 days to cover threshold.

If clinical results bring substantially more volume into NTHI, both short covering and new buyers could become meaningful sources of demand. That does not guarantee a squeeze or a higher share price, but it creates the potential for unusually fast price discovery.

Wall Street Is Already Looking Much Higher

NeOnc also enters the event with unusually wide analyst expectations relative to its recent share price.

Three firms currently carry Buy ratings:

Maxim Group — $20 price target
BTIG — $15 price target
Alliance Global Partners — $13 price target

The simple average is $16 per share.

Against a roughly $3.50 stock price, those targets represent a substantial valuation gap. Maxim’s $20 target is nearly six times that level, while the $13 target from Alliance Global Partners is still several multiples higher.

Those are analyst expectations, not guarantees, and Wednesday’s data could strengthen, weaken or completely change the assumptions supporting those targets.

There is another potentially important ownership detail. NeOnc’s latest available market-data estimates put insider ownership at roughly 55%, while institutional ownership is estimated at about 6.6%. The company has also disclosed insider buying, including a purchase of more than $500,000 of NTHI shares by CEO Amir Heshmatpour referenced in its first-quarter update.

Biotech Traders Have Seen How Fast Good Data Can Move a Stock

The broader biotech market has provided recent reminders that clinical data can radically change a company’s valuation in a single session.

Tango Therapeutics (NASDAQ:TNGX) surged after reporting initial Phase 1/2 data showing a 92% objective response rate among response-evaluable pancreatic-cancer patients treated with vopimetostat plus daraxonrasib. Six-month progression-free survival was 90%, and disease control reached 100% in the reported pancreatic-cancer cohort. Tango’s shares jumped approximately 53% that day, closing at $30.93.

The comparison is not a prediction for NTHI. The studies, drugs, patient populations and clinical-stage risks are different.

But the market reaction illustrates the mechanism: when clinical results materially exceed expectations, investors can rapidly reassess an entire company’s opportunity.

Intensity Therapeutics (NASDAQ:INTS) offers an even more dramatic example. Following positive Phase 1/2 data for INT230-6 in advanced cancers, the stock rose approximately 394% in a single session, from about $0.27 to $1.32, according to Genetic Engineering & Biotechnology News. The data showed a 75% disease-control rate among 64 patients and median overall survival of 11.9 months.

Again, those outcomes do not establish what NTHI will do.

They demonstrate why small biotechnology companies can become extremely volatile when meaningful clinical data arrives against a limited share supply.

Wednesday Is the Inflection Point

That leaves NTHI approaching the August 12 readout with several forces already in place:

A stock near its 52-week low.

A reported public float that varies significantly by data provider but is small under some methodologies.

521,841 shares reported short as of July 15.

Three Buy ratings with $13, $15 and $20 targets.

A fully enrolled Phase 2a brain-cancer trial.

And a scheduled topline data presentation Wednesday morning.

The bullish case is straightforward: compelling efficacy and safety data could force investors to reassess the value of NEO100 and the company’s broader CNS pipeline. A stronger-than-expected regulatory path could add another layer to that repricing.

The bearish case is equally straightforward: disappointing efficacy, safety concerns, ambiguous results or an uncertain regulatory path could overwhelm the technical setup. A low float can amplify selling just as easily as buying.

That is ultimately what makes Wednesday important.

The question isn’t whether NTHI has the ingredients for volatility. It clearly does.

The question is whether the NEO100 Phase 2a data are strong enough to change the fundamental story.

If they are, the market will have to determine how much that new information is worth.

And with NTHI trading near the bottom of its 52-week range, analyst targets extending as high as $20 and more than half a million shares reported short, that repricing could be anything but quiet.

The Catalyst

NeOnc Technologies Holdings (NASDAQ:NTHI)
NEO100-01 Phase 2a topline data presentation
Wednesday, August 12, 2026
8:30 a.m. ET / 5:30 a.m. PT

NeOnc says management will present topline efficacy and safety observations, discuss planned regulatory next steps and conduct a question-and-answer session.

Live webcast: View Source

Investor relations: View Source

A replay is expected to be available following the presentation.

(Press release, Neonc, AUG 11, 2026, View Source [SID1234669980])

On August 11, 2026 Tango Therapeutics, Inc. (NASDAQ: TNGX) (Tango or the Company), a clinical-stage biotechnology company committed to discovering and delivering the next generation of precision cancer medicines, reported financial results for the second quarter ended June 30, 2026, and provided business highlights.

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"The second quarter marked a pivotal period for Tango, with milestones that validated our PRMT5 inhibitor pipeline and reflect the progress of our maturing organization. Notably, initial Phase 1/2 data showed vopimetostat plus daraxonrasib achieved a 92% objective response rate with encouraging durability in MTAP-deleted, RAS-mutant pancreatic cancer, giving us the confidence to move this combination rapidly into Phase 3 development for patients," said Malte Peters, MD, Chief Executive Officer of Tango. "As the Company transitions from a research-led organization into one positioned to bring vopimetostat to patients, our focus for the second half of the year remains on defining the registrational path for vopimetostat in front-line pancreatic cancer and providing updates from our broader pipeline. I am pleased with the progress we have made against executing on our clinical development plan, which is well on track, and the team continues to be laser-focused on bringing vopimetostat to patients as soon as possible. With our robust balance sheet, our cash runway carries us through our planned development and commercialization preparation in pancreatic cancer, as well as ongoing work across our pipeline."

Clinical Pipeline Updates

Vopimetostat – MTAP Selective Once-Daily PRMT5 Inhibitor

In June, Tango reported initial data from vopimetostat in combination with Revolution Medicines’ RAS(ON) inhibitors daraxonrasib or zoldonrasib in patients with MTAP-deleted, RAS-mutant pancreatic cancer. Data demonstrated that vopimetostat in combination with daraxonrasib achieved a 92% objective response rate and 90% six-month progression-free survival rate in this patient population, with a generally well-tolerated safety profile.
Based upon the positive Phase 1/2 data, Tango is working internally and has initiated dialogue with regulators and its collaborator Revolution Medicines toward the goal of developing a registrational plan and path forward for vopimetostat plus daraxonrasib in MTAP-deleted pancreatic cancer.
The Company plans to share data from the Phase 1/2 trial of the combination of vopimetostat plus RAS(ON) inhibitors at the 2026 European Society for Medical Oncology (ESMO) (Free ESMO Whitepaper) Congress in Madrid, Spain from October 23-27, 2026.

Corporate Updates

Executive Leadership. Today, the Company announced that it has appointed Fatma Ocak to the role of Chief Commercialization Officer, effective August 17, 2026. In this role, Ms. Ocak will oversee all aspects of launch readiness and oversee key functions, including medical affairs, commercial strategy, and clinical and commercial integration. Prior to joining Tango, she served as Senior Vice President and General Manager, US Oncology at BioNTech. Previously, she held senior executive roles at Novartis across both global and US oncology leadership, driving strategic product positioning, market access, and commercial execution. Throughout her 25-year career in pharmaceuticals, she has specialized in bridging research and development to competitive market execution.
Board of Directors. In June, the Company strengthened its Board of Directors with the appointment of Robert Azelby, adding more than 30 years of biopharmaceutical leadership experience in oncology commercialization and corporate strategy as Tango prepares to advance vopimetostat into late-stage clinical development. On August 6, 2026, Mr. Azelby was appointed Chairman of the Tango Board of Directors.

Upcoming Expected Milestones

Present Phase 1/2 data of vopimetostat in combination with RAS(ON) inhibitors at the 2026 ESMO (Free ESMO Whitepaper) Congress in Madrid, Spain from October 23-27, 2026
Finalize design of Phase 3 randomized-controlled trial of the combination approach in front-line pancreatic cancer in 2H 2026
Disclose vopimetostat lung cancer monotherapy data in 2H 2026
Release initial TNG456 data in glioblastoma and other cancers in 2H 2026
Initiate Phase 1/2 vopimetostat + ERAS-0015 (Erasca) combination study in 2H 2026

Financial Results

As of June 30, 2026, the Company held $1.0 billion in cash, cash equivalents and marketable securities, which the Company expects to fund its current operating plan.

Collaboration revenue was $0 for the three months ended June 30, 2026, compared to $3.2 million for the same period in 2025, and $0 for the six months ended June 30, 2026, compared to $8.6 million for the same period in 2025. All remaining deferred revenue from the upfront and research option-extension payments under the Gilead collaboration was recognized as collaboration revenue during the year ended December 31, 2025 as a result of the truncation of the collaboration agreement which concluded all research activities.

Research and development expenses were $37.2 million for the three months ended June 30, 2026, compared to $32.8 million for the same period in 2025, and $70.7 million for the six months ended June 30, 2026, compared to $69.2 million for the same period in 2025. The change was primarily due to increased spend related to the advancement of the vopimetostat and TNG456 clinical programs. This increase was partially offset by decreased spend resulting from the impact of our portfolio prioritization efforts.

General and administrative expenses were $22.6 million for the three months ended June 30, 2026, compared to $11.3 million for the same period in 2025, and $37.8 million for the six months ended June 30, 2026, compared to $22.8 million for the same period in 2025. The increase was primarily due to increased spend on personnel-related costs, including share-based compensation expense.

Net loss for the three months ended June 30, 2026 was $55.3 million, or $0.37 per share, compared to a net loss of $38.9 million, or $0.35 per share, in the same period in 2025. Net loss for the six months ended June 30, 2026 was $100.9 million, or $0.68 per share, compared to a net loss of $78.7 million, or $0.71 per share, in the same period in 2025.

(Press release, Tango Therapeutics, AUG 11, 2026, View Source [SID1234669979])

On August 11, 2026 Eikon Therapeutics, Inc. (Nasdaq: EIKN) (Eikon), a late-stage clinical biopharmaceutical company dedicated to developing innovative medicines to address serious unmet medical needs, reported the selection of a dose of 0.60 mg/m2 that will be employed in future for all patients randomized to receive EIK1001 in the TeLuRide-006 trial. This decision aligns with a recommendation from an independent DMC following a prespecified analysis of unblinded data.

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"To date, despite multiple combination clinical studies, statistically significant improvement in overall survival in the treatment of advanced melanoma has not been achieved over checkpoint inhibitor monotherapy," said Roy Baynes, M.D., Ph.D., Chief Medical Officer of Eikon. "EIK1001’s activation of both myeloid and plasmacytoid dendritic cells to stimulate both innate and adaptive immunity, bringing a broader répertoire of immune cells to target tumor cells, represents both an orthogonal mechanism and an agent with monotherapy activity. These criteria merit study in combination with checkpoint inhibitors. The selection of an optimized dose for this trial advances our efforts to bring this approach to patients in urgent need of better therapies."

(Press release, Eikon Therapeutics, AUG 11, 2026, View Source [SID1234669978])