aibioNuCana says Nasdaq confirmed compliance and closed its listing matter
Tickers NCNA
The company says Nasdaq closed its listing matter and that its cash lasts into 2029. The release gives no cash balance or burn figure and does not say what steps restored compliance.
Key facts
- Company
- NuCana plc (NASDAQ: NCNA)
- News type
- Listings
- Primary source
- NuCana plc 6-K (2025-09-05)
NuCana plc (Nasdaq: NCNA) said on September 5, 2025 that The Nasdaq Stock Market formally notified it on September 4, 2025 that the company is in compliance with all applicable continued listing criteria. The company said that includes the $1.00 minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2), which asks a listed stock to trade at or above $1.00. Nasdaq also told NuCana that the previously disclosed listing matter has been closed.
The announcement is a short press release filed as an exhibit to a Form 6-K. It does not say when the bid price deficiency began, what the share price was, or what restored compliance. Executive Chairman Andrew Kay said, "As a result of the decisive steps we have taken, NuCana is now fully compliant with Nasdaq's continued listing standards." The release does not describe those steps. Kay also thanked the Nasdaq Hearings Panel for the opportunity to demonstrate full compliance, but the release gives no hearing date and no panel decision.
What the company says about cash
Kay said, "We anticipate our existing cash resources, which include proceeds raised to date via an ATM offering, will be sufficient to fund our planned operations into 2029 and through a number of key value-driving milestones." An ATM, or at-the-market, offering is a program in which a company sells shares into the market over time.
The release gives no cash balance, no quarterly cash burn and no amount raised through the ATM, so the 2029 claim cannot be tested from the document. Kay also described a "strong cash position" and said multiple data readouts lie ahead. Those are the company's own characterizations.
NuCana's own forward-looking statements section treats the sufficiency of its current cash to fund planned operations into 2029 as a forecast, not a fact. It lists among its risks the ability to raise additional capital sufficient to fund those operations, and it points readers to the risk factors in its annual report on Form 20-F, filed with the SEC on March 20, 2025.
The pipeline behind the runway claim
NuCana describes itself as a clinical-stage biopharmaceutical company that applies its ProTide technology to nucleoside analogs, chemotherapy agents that remain part of the standard of care for many solid and hematological tumors. The company says they are often poorly tolerated.
Its pipeline includes two drugs. NUC-7738 is described by the company as a novel anti-cancer agent that disrupts RNA polyadenylation and targets multiple aspects of the tumor microenvironment. It is in the Phase 2 part of a Phase 1/2 study as a monotherapy in patients with advanced solid tumors and in combination with pembrolizumab in patients with melanoma.
NUC-3373 is a new chemical entity derived from the nucleoside analog 5-fluorouracil, a widely used chemotherapy agent. It is being evaluated in a Phase 1b/2 modular study, NuTide:303, in combination with the PD-1 inhibitor pembrolizumab for advanced solid tumors and in combination with docetaxel for lung cancer. The release reports no efficacy results for either drug and gives no dates for the data readouts Kay mentions.
Who is running the company
The March 2025 annual report lists the leadership as of March 1, 2025. Hugh Griffith, 56, is a co-founder and has been chief executive officer and a director since operations began in March 2008. Jeffrey Bloss, M.D., has been chief medical officer since August 2021. David Harrison, M.D., has been head of translational medicine since December 2017.
Andrew Kay, 69, is listed in that report as Non-Executive Director and Chairman, a post he has held since December 2020. The September 5 release gives his title as Executive Chairman, and it does not say when the role changed. Kay was chief executive officer of Algeta from January 2009 to May 2014 and has been chairman of NeRRe Therapeutics since September 2017. He also chaired Wilson Therapeutics, which Alexion Pharmaceuticals acquired in 2018.
The other non-executive directors named in the report are Adam George, Martin Mellish, Cyrille Leperlier, Elliott Levy and Bali Muralidhar. The report said George intended to resign as a director effective March 21, 2025, with Mellish to succeed him as audit committee chair.