Monitor upcoming NUC-7738 Phase 2 data in 2026 and FDA guidance on registrational pathway. The AGM includes a share subdivision to allow equity issuance below current ADS price, which may enable future capital raises but adds dilution risk.
Price Chart
Executive Summary
NuCana published its 2025 UK Annual Report, reporting a net loss of £29.4M vs £19.0M in 2024, driven by a £12.6M non-cash finance expense from warrant revaluation. R&D spending fell to £12.7M from £18.0M as the NuTide:323 study was discontinued. Cash improved to £24.3M after raising ~£25M in financing, with runway into 2029. The company has no approved products or revenue.
Key Facts
- Net loss of £29.4 million for 2025 vs £19.0 million in 2024
- Accumulated deficit of £252.3 million as of Dec 31, 2025
- Cash and cash equivalents of £24.3 million, up from £6.7 million
- R&D expenses decreased to £12.7 million from £18.0 million
- Operating loss improved to £20.1 million from £22.8 million
- No approved products or revenue from product sales
Financial Impact
Net loss increased by £10.4 million year-over-year due to a £12.6 million non-cash warrant revaluation loss
Risk Factors
- Continuing operating losses and reliance on equity financing
- No approved products or revenue, clinical-stage risk
- Potential further dilution from authorized share issuance up to £5 million nominal value
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001193125-26-208951 |
| Document: d118567dex991.htm | 0001193125-26-208951 |
| Document: d118567d6k.htm | 0001193125-26-208951 |
| Document: 0001193125-26-208951-index-headers.html | 0001193125-26-208951 |
| Document: 0001193125-26-208951-index.html | 0001193125-26-208951 |
| Document: 0001193125-26-208951.txt | 0001193125-26-208951 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 30, 2026 27d ago | 6-K | $1.35 | awaiting T+60 | — | $1.10 (−18.52%) |
Jun 8, 2026 20w ago | 6-K | $2.05 $1.38 | ▼ −32.68% | ▼ −35.73% | $1.10 (−46.34%) |
Jun 1, 2026 21w ago | 6-K | $2.17 $1.47 | ▼ −32.26% | ▼ −33.49% | $1.10 (−49.31%) |
May 14, 2026 23w ago | 6-K | $2.18 $1.44 | ▼ −33.95% | ▼ −38.46% | $1.10 (−49.54%) |
May 6, 2026 24w ago | 6-K | $2.09 $1.35 | ▲ +35.41% | ▲ +39.24% | $1.10 (+47.37%) |
Mar 19, 2026 31w ago | Press Release | $1.65 $1.92 | ▲ +16.36% | ▲ +1.94% | $1.10 (−33.33%) |
US Market Status
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