NuCana Gets FDA IND Clearance, Reports £21.5M Cash Runway and Q1 Net Loss
NuCana reported a £3.9 million net loss and £21.5 million cash position as of March 31, 2026, providing funding into 2029. FDA cleared IND for NUC-7738 in April 2026, and final Phase 2 data in pembrolizumab-resistant melanoma is expected later in 2026.
1. First Quarter 2026 Financial Results
NuCana reported a net loss of £3.9 million for Q1 2026 compared with a £2.5 million loss in Q1 2025, including £1.9 million in share-based payment expenses. Cash and cash equivalents stood at £21.5 million as of March 31, 2026, down from £24.3 million at year-end.
2. FDA IND Clearance and Clinical Progress
The FDA cleared an IND for NUC-7738 in April 2026, enabling U.S. trials initially focused on melanoma. Enrollment continues in the Phase 2 NuTide:701 study combining NUC-7738 with pembrolizumab in PD-1 inhibitor-resistant metastatic melanoma, with final data expected later in 2026.
3. Strategic Outlook and Cash Runway
The company anticipates cash resources will fund operations into 2029, supporting additional indications and combination strategies for NUC-7738 and ongoing evaluation of NUC-3373. Management targets completing recruitment, reporting Phase 2 results, and engaging the FDA on a registrational pathway in melanoma this year.