Core Insights - NuCana plc has initiated the dosing of the first patients in the expansion study of NUC-7738 in combination with pembrolizumab for patients with PD-1 inhibitor-resistant melanoma, with initial data expected in Q4 2025 and final data in 2026 [1][2] - The company reported a net loss of £24.1 million for Q2 2025, which includes a significant loss on revaluation of warrants, compared to a net loss of £7.0 million in Q2 2024 [7][11] - NuCana's cash and cash equivalents increased to £8.4 million as of June 30, 2025, up from £4.0 million at the end of Q1 2025, with additional funds raised through an ATM offering expected to extend the cash runway into 2029 [4][6] Clinical Development - NUC-7738 is designed to impact gene expression in cancer cells and has shown a favorable safety profile, meaningful tumor volume reduction, and prolonged progression-free survival in patients with PD-1 inhibitor refractory metastatic melanoma [2] - NUC-3373, another lead program, is a targeted thymidylate synthase inhibitor with immune-modulating properties, currently in a Phase 1b/2 study, showing notable tumor volume reductions and prolonged progression-free survival in patients with advanced solid tumors [2][5] Financial Position - As of June 30, 2025, NuCana's total assets were £16.2 million, with total equity attributable to equity holders amounting to £7.4 million [12][13] - The company has raised gross proceeds of £38.4 million in 2025 through various financing initiatives, positioning it well for upcoming clinical milestones [2][6] Anticipated Milestones - Initial data from the Phase 1/2 expansion study of NUC-7738 is expected in 2025, with regulatory guidance from the FDA anticipated in 2026 [5] - Additional data from the ongoing Phase 1b/2 study of NUC-3373 is also expected to be announced later in 2025 [5]

Core Viewpoint - NuCana plc has successfully canceled all remaining Series A Warrants, raising the necessary capital through its at-the-market offering, thereby eliminating overhanging rights from its May 2025 registered direct offering [1][2]. Company Overview - NuCana is a clinical-stage biopharmaceutical company focused on improving cancer treatment outcomes using its ProTide technology to enhance the efficacy and safety of widely prescribed chemotherapy agents [3]. - The company's pipeline includes NUC-7738, a novel anti-cancer agent in Phase 2 studies, and NUC-3373, currently in a Phase 1b/2 modular study, both targeting advanced solid tumors [3].

Core Viewpoint - NuCana plc plans to change the ratio of its American Depository Shares (ADSs) from 1 ADS representing 25 ordinary shares to 1 ADS representing 5,000 ordinary shares, effective around August 8, 2025, to support liquidity and regain compliance with Nasdaq's minimum bid price requirement [1][2]. Company Overview - NuCana is a clinical-stage biopharmaceutical company focused on improving cancer treatment outcomes through its ProTide technology, which aims to enhance the efficacy and safety of widely prescribed chemotherapy agents [4]. - The company's pipeline includes NUC-7738, a novel anti-cancer agent in Phase 2 studies, and NUC-3373, currently in a Phase 1b/2 modular study, both targeting advanced solid tumors [4]. ADS Ratio Change Details - The change in the ADS Ratio will effectively act as a one-for-two hundred reverse ADS split, with no impact on the proportional equity interest of ADS holders [2]. - Registered holders of certificated ADSs must surrender their existing ADSs for cancellation to receive new ADSs, while holders of uncertificated ADSs will have their ADSs automatically exchanged [2]. - No fractional new ADSs will be issued; instead, fractional entitlements will be aggregated and sold, with net cash proceeds distributed to ADS holders [2]. Expected Impact - The trading price of ADSs is expected to increase proportionally due to the change in the ADS Ratio, although the company cannot guarantee that the new trading price will be equal to or greater than the previous price [3].

Core Insights - NuCana plc is advancing its clinical development programs for its lead anti-cancer medicines, NUC-7738 and NUC-3373, with a focus on key milestones towards commercialization [2][4][7] - The company has initiated an expansion study of NUC-7738 in combination with pembrolizumab for patients with PD-1 inhibitor-resistant melanoma, with initial data expected in Q4 2025 and final data in 2026 [1][2] - Financial results for Q1 2025 show a net loss of £2.5 million, a significant reduction from £6.8 million in Q1 2024, indicating improved financial performance [6][10] Clinical Development Updates - NUC-7738 has shown a favorable safety profile and meaningful tumor volume reduction in patients with PD-1 inhibitor refractory metastatic melanoma, leading to the initiation of an expansion trial [2][4] - NUC-3373 is being evaluated in a Phase 1b/2 study in combination with pembrolizumab for advanced solid tumors and with docetaxel for lung cancer, with notable tumor volume reductions reported [2][4] - The company plans to meet with the U.S. FDA to discuss the regulatory strategy for NUC-7738 based on the promising results from ongoing studies [2][4] Financial Position - As of March 31, 2025, NuCana had cash and cash equivalents of £4.0 million, down from £6.7 million at the end of 2024, but has since raised an additional £8.8 million to extend its cash runway into Q4 2026 [4][5][6] - The company reported a basic and diluted loss per ordinary share of £0.02 for Q1 2025, compared to £0.13 for the same period in 2024, reflecting improved financial health [6][10] - Total assets decreased from £14.774 million at the end of 2024 to £11.601 million as of March 31, 2025, primarily due to cash outflows [11][12]