--- title: "NuCana says £24.3 million in cash should fund operations into 2029" url: "https://aibio.space/news/nucana-says-24-3-million-cash-should-fund-operations-2029/" publisher: "aibio.space (Biotech Investor Relations News)" date: "2026-03-19" section: "Financings" tickers: "NASDAQ:NCNA" source: "https://www.sec.gov/Archives/edgar/data/1709626/000119312526115968/d114647dex991.htm" summary: "NuCana's cash rose to £24.3 million after two 2025 raises, but its 2025 net loss was £29.4 million and net cash used in operating activities was £7,467 tho" --- By the aibio.space news desk. Sources - [NuCana plc 6-K (2026-03-19)](https://www.sec.gov/Archives/edgar/data/1709626/000119312526115968/d114647dex991.htm) - [NuCana plc 20-F (2026-03-19): business](https://www.sec.gov/Archives/edgar/data/1709626/000119312526116030/ncna-20251231.htm) [NCNA](https://aibio.space/companies/nucana/) 2026-03-19 # NuCana says £24.3 million in cash should fund operations into 2029 Tickers [NCNA](https://aibio.space/companies/nucana/) NuCana's cash rose to £24.3 million after two 2025 raises, but its 2025 net loss was £29.4 million and net cash used in operating activities was £7,467 thousand. The melanoma data for NUC-7738 come from an expansion study the release does not size. ## Key facts - **Company**: NuCana plc (NASDAQ: NCNA) - **News type**: Financings - **Primary source**: [NuCana plc 6-K (2026-03-19)](https://www.sec.gov/Archives/edgar/data/1709626/000119312526115968/d114647dex991.htm) *A city skyline in morning haze. CC0, via rawpixel. The picture shows the field, not the companies named.* NuCana plc (Nasdaq: [NCNA](https://aibio.space/companies/nucana/)) reported its fourth-quarter and full-year 2025 results on March 19, 2026. It said cash and cash equivalents were £24.3 million at December 31, 2025, compared with £25.2 million at September 30, 2025 and £6.7 million a year earlier. The company expects that cash to fund operations into 2029. ### Two raises and a warrant buyback In May 2025 NuCana raised £9.6 million in gross proceeds before expenses and commissions. That was £5.2 million upfront and £4.4 million from warrant exercises. In July 2025 it raised £19.0 million in gross proceeds through its at-the-market program. On July 21, 2025, the company said it had raised the full amount of capital it needed. It canceled all remaining Series A warrants from the May financing in exchange for payments totaling $3.6 million, which the cash flow statement shows as £2,655 thousand. The release says this "fully eliminated all overhanging rights" from that financing. Share capital and share premium rose from £151,827 thousand to £189,586 thousand over the year. ### The loss and the cash burn NuCana reported a net loss of £29.4 million for 2025, compared with £19.0 million for 2024. The loss included a £12.6 million finance expense, which the release calls a non-cash loss on the fair value revaluation of the warrants from the May 2025 financing. It also included £1.4 million of professional fees tied to the warrant issue and £10.0 million of share-based payment expenses. Total other income of £2.7 million partly offset those charges. Cash used in operations was £11,455 thousand in 2025, against £23,133 thousand in 2024. After £3,988 thousand of net income tax received, net cash used in operating activities was £7,467 thousand. Research and development expenses fell to £12,737 thousand from £18,017 thousand. Administrative expenses rose to £8,096 thousand from £4,988 thousand, and the release gives no reason for that increase. The fourth-quarter net loss was £2.5 million, against £0.7 million a year earlier. At year-end, accumulated deficit stood at £252,334 thousand, and total equity attributable to shareholders was £24,327 thousand. ### The NUC-7738 data NUC-7738 is one of the company's two lead drug candidates and the focus of its 2026 plan. The company describes it as an agent that disrupts RNA polyadenylation. Its Phase 2 expansion study, NuTide:701, tests it with the PD-1 inhibitor pembrolizumab in patients with PD-1 inhibitor-resistant melanoma. NuCana presented data from that study at the European Society for Medical Oncology Immuno-Oncology Congress in late 2025. The company says the data showed "two partial responses, one of which was confirmed," several cases of stable disease and one patient whose disease became a complete metabolic response. These are the company's own characterizations. The release does not say how many patients were treated or how long the responses lasted, and it calls the final data a 2026 event. The company plans to obtain guidance from the U.S. Food and Drug Administration on a possible registrational strategy in melanoma, so that step is still ahead. NUC-3373 is a thymidylate synthase inhibitor that the company says is designed to overcome limits of other agents in its class. It has been studied in the NuTide:303 study with pembrolizumab and with docetaxel in lung cancer. For 2026, the company's only stated milestone for that drug is to evaluate combinations and indications for future studies, and the release lists no new efficacy readout for it. ### Management and the 2026 plan The company appointed Theresa Bruce as chief operating officer earlier this year. Chief Executive Officer Hugh S. Griffith said she brings over 25 years of oncology research and development experience. The 2026 milestones are to complete enrollment in NuTide:701, announce its final data, obtain FDA guidance on a registrational strategy and advance other indications and combinations. NuCana says its cash will last into 2029 under its current operating plan. That runway rests on a year in which the company raised money through warrants and share sales, and it follows a net loss of £29.4 million for 2025. The release does not describe any financing beyond the existing cash, and it does not give the cost of the 2026 milestones. [Report an error](https://aibio.space/reputation/#correction) ## Companies in this story NCNA NuCana plc NASDAQ · United Kingdom Open the starter desk ## More in Financings Financings ### [INmune Bio raises $4.50 million in registered direct offering with warrants](https://aibio.space/news/inmune-bio-raises-4-50-million-registered-direct-offering-warrants/) Oct 29, 2026 Financings ### [Lexeo Therapeutics files $300 million shelf registration](https://aibio.space/news/lexeo-therapeutics-files-300-million-shelf-registration/) Oct 29, 2026 Financings ### [ProKidney files $650 million shelf with $200 million Jefferies sales program](https://aibio.space/news/prokidney-files-650-million-shelf-200-million-jefferies-sales-program/) Oct 29, 2026 --- Source page: https://aibio.space/news/nucana-says-24-3-million-cash-should-fund-operations-2029/. Facts in aibio.space stories are checked against company filings and releases; opinion is labelled. Cite as: aibio.space, "NuCana says £24.3 million in cash should fund operations into 2029", 2026-03-19, https://aibio.space/news/nucana-says-24-3-million-cash-should-fund-operations-2029/