NuCana PLC Secures $7 Million in Funding Through Registered Direct Offering

In a strategic move to bolster its drug discovery and development programs, NuCana PLC, a clinical-stage biopharmaceutical company based in Edinburgh, United Kingdom, has successfully priced a registered direct offering. This financial maneuver, announced on May 6, 2025, involves the issuance of 10,845,985 American Depository Shares (ADSs) or pre-funded warrants, each accompanied by a Series A warrant and a Series B warrant. The offering price for each ADS, along with the accompanying warrants, is set at $0.6454. Similarly, the price for each pre-funded warrant, inclusive of the warrants, is $0.6454, adjusted by the United States dollar equivalent of £0.01 based on the exchange rate at the time of pricing.

The gross proceeds from this offering are anticipated to be approximately $7 million, prior to the deduction of placement agent fees and offering expenses. These funds are earmarked for advancing NuCana’s drug discovery and development initiatives, as well as supporting other general corporate purposes, including working capital.

NuCana PLC, listed on the Nasdaq stock exchange, specializes in developing anti-cancer medications targeting a range of cancers such as ovarian, biliary, pancreatic, colorectal, haematology, oncology, and breast cancers. The company leverages a proprietary technology platform to produce oncology medicines, serving customers in both the United Kingdom and the United States.

Despite the recent financial boost, NuCana’s stock performance has been volatile. As of May 4, 2025, the company’s share price stood at $1.1, a significant drop from its 52-week high of $10.79 on August 18, 2024. The 52-week low was recorded at $0.413 on May 1, 2025. The market capitalization of NuCana is currently valued at $2.29 million, with a price-to-earnings ratio of -0.048688, reflecting the company’s ongoing development phase and the inherent risks associated with biotechnology ventures.

In the broader penny stock market, NuCana is highlighted alongside N2OFF Inc. and Firefly Neuroscience as stocks to watch, according to TipRanks’ Penny Stock Screener tool. Penny stocks, defined as those trading at or below $5 per share with a market capitalization under $300 million, are often characterized by high volatility and potential for significant price movements. As of the close on May 5, 2025, NuCana’s stock price and market activities have drawn attention from investors seeking opportunities in the biotechnology sector.

NuCana’s recent financial activities underscore its commitment to advancing its pipeline of oncology treatments, despite the challenges faced in the biotech industry. The company’s focus on innovative cancer therapies continues to position it as a noteworthy player in the health care sector, particularly within the biotechnology industry.