NuCana Reports Third Quarter 2024 Financial Results and Provides Business Update

Core Insights - NuCana plc presented encouraging Phase 2 data for NUC-7738 in combination with pembrolizumab at the ESMO Congress 2024, showing a median progression-free survival of over five months in PD1 inhibitor-resistant melanoma patients [2][3] - The company also announced promising Phase 1b/2 data for NUC-3373, indicating significant tumor volume reductions and prolonged progression-free survival in patients with advanced solid tumors [2][5] - NuCana's cash position as of September 30, 2024, was £11.4 million, with expectations to fund operations into Q2 2025 [6][7] Clinical Development Updates - NUC-7738: The Phase 2 part of the NuTide:701 study demonstrated that 9 out of 12 patients achieved disease control, with one patient showing a 55% reduction in tumor volume [2] - NUC-3373: Initial data from the NuTide:303 study showed that NUC-3373 may enhance anti-tumor immune responses when combined with pembrolizumab or docetaxel, including a patient with urothelial bladder cancer achieving a 100% reduction in target lesions [2][5] Financial Performance - For Q3 2024, NuCana reported a net loss of £4.5 million, an improvement from a net loss of £6.7 million in Q3 2023, with a basic and diluted loss per share of £0.07 compared to £0.13 in the prior year [7][11] - The company had cash and cash equivalents of £11.4 million as of September 30, 2024, down from £17.2 million at the end of 2023, primarily due to cash used in operating activities [6][11] Future Milestones - For NUC-7738, the company plans to initiate an expansion of the Phase 1/2 study and announce data from this expansion in 2025 [3] - For NUC-3373, the company aims to expand the Phase 1b/2 study and announce data from this study in the upcoming year [5]