NuCana Reports Fourth Quarter and Year-End 2024 Financial Results and Provides Business Update

Core Insights - NuCana plc is advancing its clinical development programs for two lead anti-cancer medicines, NUC-7738 and NUC-3373, with significant data updates shared throughout 2024 [2][3] - The company plans to initiate an expansion study of NUC-7738 in combination with pembrolizumab for patients with PD-1 inhibitor-resistant melanoma in 2025, aiming to gather data to support regulatory strategy with the FDA [1][4] Clinical Development - NUC-7738 has shown promising results in the NuTide:701 study, with 75% of patients demonstrating disease control and notable tumor reductions [3] - NUC-3373 is being evaluated in a Phase 1b/2 study (NuTide:303) with two modules: one combining it with pembrolizumab for advanced solid tumors and another with docetaxel for lung cancer [3][9] - The company is encouraged by the significant tumor volume reductions observed in the NuTide:303 study, including a patient with 100% reduction in target lesions [3] Financial Performance - As of December 31, 2024, NuCana reported cash and cash equivalents of £6.7 million, down from £17.2 million a year prior, primarily due to cash used in operating activities [5][6] - The net loss for Q4 2024 was £0.7 million, a significant reduction from £7.7 million in Q4 2023, while the annual net loss decreased to £19.0 million from £27.6 million [6][11] - Basic and diluted loss per ordinary share for the year ended December 31, 2024, was £0.26, compared to £0.53 for the previous year [6][11] Future Outlook - The company anticipates key milestones in 2025, including the initiation of the expansion study for NUC-7738 and data announcements from the NuTide:303 study for NUC-3373 [4][9] - NuCana has strengthened its intellectual property portfolio with a new patent granted for NUC-7738's composition of matter [3]