Summary by Moomoo AI
NuCana reported financial results for Q3 2024, with research and development expenses decreasing to £3.7M from £7.4M in Q3 2023. The operating loss improved to £5.3M compared to £8.3M in the same period last year. The company recorded a net loss of £4.5M for the quarter, compared to £6.7M in Q3 2023.As of September 30, 2024, NuCana maintained a cash position of £11.4M, down from £17.2M at the end of 2023. The company acknowledged that current cash reserves would not be sufficient to fund anticipated operations for the next 12 months, indicating the need to seek additional capital through equity or debt financing to continue research and development activities.The company continues to focus on developing its ProTides technology platform for cancer treatment. During the period, NuCana transferred its listing to The Nasdaq Capital Market and implemented a ratio change of its ADSs to ordinary shares from 1:1 to 1:25 in April 2024.
