NeOnc Technologies restates Q1 2025 financials for overstated share-based compensation

NEONC TECHNOLOGIES HOLDINGS, INC.

Overstated non-cash share-based compensation expense on 1,486,667 RSUs issued Jan 4, 2024, due to incorrect assumption of full vesting by March 31, 2025.
RSUs actually vest over 22 months; only 15 months had vested as of March 31, 2025, resulting in a lower non-cash expense.
Company and audit committee concluded the March 31, 2025 Form 10-Q financial statements should no longer be relied upon.
Restatement will be fully presented in the Form 10-Q for the quarter ended June 30, 2025.

item 4.02

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