Unaudited Condensed Consolidated Statements of Operations
For the Three Months For the Nine Months Ended
Ended September 30, September 30,
------------------------- ---------------------------
2024 2023 2024 2023
--------- --------- --------- ---------
(in thousands, except per share data)
GBP GBP GBP GBP
Research and
development
expenses (3,736) (7,439) (17,288) (18,203)
Administrative
expenses (1,358) (1,375) (4,448) (4,777)
Net foreign
exchange
(losses) gains (229) 562 (208) (697)
--------- --------- --------- ---------
Operating loss (5,323) (8,252) (21,944) (23,677)
Finance income 72 152 283 617
--------- --------- --------- ---------
Loss before tax (5,251) (8,100) (21,661) (23,060)
Income tax
credit 740 1,404 3,317 3,083
--------- --------- --------- ---------
Loss for the
period
attributable to
equity holders
of the Company (4,511) (6,696) (18,344) (19,977)
========= =========
Basic and
diluted loss
per ordinary
share (0.07) (0.13) (0.32) (0.38)
Unaudited Condensed Consolidated Statements of Financial Position As At
September 30, December 31,
2024 2023
--------------- --------------
(in thousands)
GBP GBP
Assets
Non-current assets
Intangible assets 2,230 2,128
Property, plant and equipment 253 521
Deferred tax asset 169 143
-------------- --------------
2,652 2,792
Current assets
Prepayments, accrued income and
other receivables 1,141 2,671
Current income tax receivable 4,390 5,123
Cash and cash equivalents 11,351 17,225
-------------- --------------
16,882 25,019
-------------- --------------
Total assets 19,534 27,811
============== ==============
Equity and liabilities
Capital and reserves
Share capital and share premium 149,607 143,420
Other reserves 78,400 79,173
Accumulated deficit (223,659) (207,706)
-------------- --------------
Total equity attributable to equity
holders of the Company 4,348 14,887
-------------- --------------
Non-current liabilities
Provisions 28 58
Lease liabilities 136 190
-------------- --------------
164 248
Current liabilities
Trade payables 6,043 3,375
Payroll taxes and social security 157 155
Accrued expenditure 8,707 8,940
Lease liabilities 85 206
Provisions 30 -
-------------- --------------
15,022 12,676
Total liabilities 15,186 12,924
-------------- --------------
Total equity and liabilities 19,534 27,811
============== ==============
Unaudited Condensed Consolidated Statements of Cash Flows
For the Nine Months Ended
September 30,
2024 2023
------------ ------------
(in thousands)
GBP GBP
Cash flows from operating activities
Loss for the period (18,344) (19,977)
Adjustments for:
Income tax credit (3,317) (3,083)
Amortization and depreciation 407 434
Movement in provisions - (4,109)
Finance income (283) (617)
Interest expense on lease liabilities 14 23
Share-based payments 1,667 3,073
Net foreign exchange losses 244 661
------------ ------------
(19,612) (23,595)
Movements in working capital:
Decrease in prepayments, accrued income
and other receivables 1,500 531
Increase in trade payables 2,668 371
Decrease in payroll taxes, social
security and accrued expenditure (234) (3,667)
------------ ------------
Movements in working capital 3,934 (2,765)
------------ ------------
Cash used in operations (15,678) (26,360)
------------ ------------
Net income tax received (paid) 4,015 (2)
------------ ------------
Net cash used in operating activities (11,663) (26,362)
------------ ------------
Cash flows from investing activities
Interest received 299 620
Payments for property, plant and
equipment (3) (4)
Payments for intangible assets (239) (377)
Repayment of other current assets - 2,596
------------ ------------
Net cash from investing activities 57 2,835
------------ ------------
Cash flows from financing activities
Payments for lease liabilities (188) (207)
Proceeds from issue of share capital --
exercise of share options 7 3
Proceeds from issue of share capital 6,371 224
Share issue expense (191) (30)
------------ ------------
Net cash from (used in) financing
activities 5,999 (10)
------------ ------------
Net decrease in cash and cash equivalents (5,607) (23,537)
Cash and cash equivalents at beginning of
period 17,225 41,912
------------ ------------
Effect of exchange rate changes on cash
and cash equivalents (267) (572)
------------ ------------
Cash and cash equivalents at end of
period 11,351 17,803
============ ============
For more information, please contact:
NuCana plc
Hugh S. Griffith
Chief Executive Officer
+44 131-357-1111
info@nucana.com
ICR Westwicke
Chris Brinzey
+1 339-970-2843
chris.brinzey@westwicke.com
(END) Dow Jones Newswires
November 25, 2024 07:00 ET (12:00 GMT)
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