NuCana regains Nasdaq compliance, extends cash runway into 2029

EDINBURGH - NuCana plc (NASDAQ:NCNA) has received formal notification from The Nasdaq Stock Market confirming its compliance with all applicable continued listing criteria, including the $1.00 minimum bid price requirement, the company announced Friday. The clinical-stage biotech, currently trading at $2.86 with a market capitalization of $5.8 million, appears undervalued according to InvestingPro analysis.

The clinical-stage biopharmaceutical company said the previously disclosed Nasdaq listing matter has now been closed following notification received on September 4, 2025.

"As a result of the decisive steps we have taken, NuCana is now fully compliant with Nasdaq’s continued listing standards," said Andrew Kay, NuCana’s Executive Chairman, in a press release statement.

The company expects its existing cash resources, which include proceeds raised to date via an ATM offering, will fund planned operations into 2029.

NuCana is developing proprietary ProTide technology to transform conventional chemotherapy agents into potentially more effective and safer medicines. The company’s pipeline includes NUC-7738, currently in Phase 2 trials for advanced solid tumors and in combination with pembrolizumab for melanoma patients.

The company is also advancing NUC-3373, a compound derived from 5-fluorouracil, which is being evaluated in a Phase 1b/2 study in combination with pembrolizumab for patients with advanced solid tumors and with docetaxel for lung cancer patients.

The Edinburgh-based firm focuses on improving treatment outcomes for cancer patients by addressing limitations of nucleoside analogs, which remain part of standard care for many solid and hematological tumors despite efficacy and tolerability challenges.

In other recent news, NuCana plc has completed the cancellation of all remaining Series A Warrants, initially issued during a registered direct offering. The company raised the necessary capital for this cancellation through an at-the-market offering, agreeing to cancel 59.5 million Series A Warrants for a $3.6 million payment. Additionally, NuCana plans to implement a 1:200 reverse ADS split, changing the ratio of its American Depositary Shares to ordinary shares, effective August 8, 2025. This move aims to enhance liquidity and ensure compliance with Nasdaq’s minimum bid price requirements. In another development, NuCana has entered a $100 million at-the-market sales agreement with A.G.P./Alliance Global Partners and Laidlaw & Company (UK) Ltd. to offer and sell ADSs. The sales will be conducted under a shelf registration statement effective since June 24, 2025. Furthermore, CEO Hugh S. Griffith is taking a leave of absence for health reasons, with Chairman Andrew Kay stepping in as Executive Chairman during his absence. Ian Webster, the Director of Finance, has been appointed Interim Chief Financial Officer.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.