NeOnc Technologies initiated with a Buy at Alliance Global

Alliance Global initiated coverage of NeOnc Technologies (NTHI) with a Buy rating and $13 price target The company is focused on developing intranasally-delivered small molecules for brain tumors, namely aggressive glioma and glioblastoma, the analyst tells investors in a research note. The firm says both of NeOnc’s candidates have a “differentiated safety profile and novel intranasal delivery.” It believes the market is poised for growth from new entrants, potentially including NeOnc’s two candidates.