Summary by Moomoo AI
NuCana reported financial results for Q2 2024, with cash and cash equivalents of £11.6M as of June 30, 2024, compared to £17.2M at December 31, 2023. The company posted a net loss of £7.0M for Q2 2024, versus £5.4M in Q2 2023. Basic and diluted loss per share was £0.12, compared to £0.10 in the prior-year quarter.The company continues to advance its clinical programs, including NUC-3373 being evaluated in three studies: a randomized Phase 2 study for second-line metastatic colorectal cancer treatment, a Phase 1/2 study in metastatic colorectal cancer, and a Phase 1b/2 study in solid tumors and lung cancer. NUC-7738 is progressing in the Phase 2 portion of its Phase 1/2 study for PD-1 inhibitor-resistant melanoma patients.Management anticipates key data readouts from all programs in 2024, with updates expected at the upcoming ESMO Congress in September. The company projects its current cash runway to extend into Q1 2025, with plans to announce multiple important clinical data updates in the second half of 2024.
