NuCana plc Files 20-F Annual Report for Fiscal Year Ended December 31, 2023

TL;DR

<b>NuCana plc has submitted its 20-F annual report detailing its 2023 financial performance and operational aspects.</b>

AI Summary

NuCana plc (NCNA) filed a Foreign Annual Report (20-F) with the SEC on March 20, 2024. NuCana plc filed its 20-F annual report for the fiscal year ending December 31, 2023. The filing covers financial data and business operations for the period. Key dates and events related to share options and grants are detailed. Information on accumulated depreciation, right-of-use assets, and legal provisions are included. The company's fiscal year ends on December 31st annually.

Why It Matters

For investors and stakeholders tracking NuCana plc, this filing contains several important signals. This filing provides a comprehensive overview of NuCana's financial health and strategic direction for investors and stakeholders. It serves as a crucial document for understanding the company's compliance with SEC regulations and its performance in the pharmaceutical sector.

Risk Assessment

Risk Level: medium — NuCana plc shows moderate risk based on this filing. The filing is a standard annual report (20-F), which typically contains a broad range of financial and operational information, but lacks specific forward-looking guidance or significant recent events that would indicate immediate high risk or reward.

Analyst Insight

Review the detailed financial statements and risk factors within the 20-F filing to assess NuCana's current financial position and potential future performance.

Key Numbers

• 2023-12-31 — Fiscal Year End (Conformed period of report)
• 2024-03-20 — Filing Date (Filed as of date)

Key Players & Entities

• NuCana plc (company) — Filer of the 20-F report
• 20231231 (date) — Conformed period of report
• 20240320 (date) — Filed as of date
• 0000950170-24-034208 (filing_id) — Accession number for the filing
• 001-38215 (filing_id) — SEC file number
• 2834 (industry_code) — Standard Industrial Classification for Pharmaceutical Preparations

FAQ

Industry Context

NuCana plc operates within the pharmaceutical preparations industry.

Regulatory Implications

The company is subject to SEC regulations as a foreign private issuer, filing annual reports on Form 20-F.

What Investors Should Do

1. Analyze the financial statements for revenue, expenses, and cash flow.
2. Review any disclosed risk factors for potential business challenges.
3. Examine executive compensation details if available in the full filing.

Year-Over-Year Comparison

This is the 20-F filing for the fiscal year 2023, following previous filings for prior periods.

Filing Documents

• ncna-20231231.htm (20-F) — 5114KB
• ncna-ex4_16.htm (EX-4.16) — 100KB
• ncna-ex12_1.htm (EX-12.1) — 14KB
• ncna-ex12_2.htm (EX-12.2) — 14KB
• ncna-ex13_1.htm (EX-13.1) — 7KB
• ncna-ex13_2.htm (EX-13.2) — 7KB
• ncna-ex15_1.htm (EX-15.1) — 6KB
• ncna-ex97_1.htm (EX-97.1) — 38KB
• img180629115_0.jpg (GRAPHIC) — 7KB
• img226350019_0.jpg (GRAPHIC) — 81KB
• img226350019_1.jpg (GRAPHIC) — 440KB
• img226350019_2.jpg (GRAPHIC) — 357KB
• img226350019_3.jpg (GRAPHIC) — 443KB
• img226350019_4.jpg (GRAPHIC) — 146KB
• img226350019_5.jpg (GRAPHIC) — 100KB
• img226350019_6.jpg (GRAPHIC) — 138KB
• img226350019_7.jpg (GRAPHIC) — 89KB
• img226350019_8.jpg (GRAPHIC) — 301KB
• img226350019_9.jpg (GRAPHIC) — 360KB
• img226350019_10.jpg (GRAPHIC) — 65KB
• img226350019_11.jpg (GRAPHIC) — 150KB
• img226350019_12.jpg (GRAPHIC) — 374KB
• 0000950170-24-034208.txt (&nbsp;) — 23109KB
• ncna-20231231.xsd (EX-101.SCH) — 1388KB
• ncna-20231231_htm.xml (XML) — 3431KB

Selected Financial Data

Selected Financial Data 1 B. Capitalization and Indebtedness 2 C. Reasons for the Offer and Use of Proceeds 2 D.

Risk Factors

Risk Factors 2 Item 4. Information on the Company 59 A. History and Development of the Company 59 B.

Business

Business 59 C. Organizational Structure 100 D. Property, Plant and Equipment 100 Item 4A. Unresolved Staff Comments 100 Item 5. Operating and Financial Review and Prospects 101 A. Operating Results 101 B. Liquidity and Capital Resources 106 C. Research and Development, Patents and Licenses, etc. 108 D. Trend Information 108 E. Critical Accounting Estimates 109 F. [Reserved] 109 G. [Reserved] 109 H. Non-GAAP Financial Measures 109 Item 6. Directors, Senior Management and Employees 110 A. Directors and Senior Management 110 B. Compensation 112 C. Board Practices 121 D. Employees 123 E. Share Ownership 123 F. Disclosure of a Registrant's Action to Recover Erroneously Awarded Compensation 123 Item 7. Major Shareholders and Related Party Transactions 124 A. Major Shareholders 124 B. Related Party Transactions 126 C. Interests of Experts and Counsel 127 Item 8. Financial Information 128 A. Consolidated Statements and Other Financial Information 128 B. Significant Changes 128 Item 9. The Offer and Listing 128 A. Offer and Listing Details 128 B. Plan of Distribution 128 C. Markets 128 D. Selling Shareholders 128 E.

Dilution

Dilution 128 F. Expenses of the Issue 128 ii TABLE OF CONTENTS (continued) Item 10. Additional Information 128 A. Share Capital 128 B. Memorandum and Articles of Association 128 C. Material Contracts 144 D. Exchange Controls 144 E. Taxation 144 F. Dividends and Paying Agents 152 G. 152 H. Documents on Display 153 I. Subsidiary Information 153 Item 11.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 153 Item 12.

Description of Securities Other than Equity Securities

Description of Securities Other than Equity Securities 154 A. Debt Securities 154 B. Warrants and Rights 154 C. Other Securities 154 D. American Depositary Shares 154 PART II 156 Item 13. Defaults, Dividend Arrearages and Delinquencies 156 Item 14. Material Modifications to the Rights of Security Holders and Use of Proceeds 156 Item 15.

Controls and Procedures

Controls and Procedures 156 A. Disclosure Controls and Procedures 156 B. Management's Annual Report on Internal Control over Financial Reporting 156 C. Attestation Report of the Registered Public Accounting Firm 156 D. Changes in Internal Control Over Financial Reporting 156 Item 16A. Audit Committee Financial Expert 156 Item 16B. Code of Ethics 157 Item 16C. Principal Accountant Fees and Services 157 Item 16D. Exemptions From the Listing Standards For Audit Committees 157 Item 16E. Purchases of Equity Securities by the Issuer and Affiliated Purchasers 157 Item 16F. Change in the Registrant's Certifying Accountant 157 Item 16G. Corporate Governance 157 Item 16H. Mine Safety Disclosure 158 Item 16I. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 158 Item 16K. Cybersecurity 158 PART III 161 Item 17

Financial Statements

Financial Statements 161 Item 18

Financial Statements

Financial Statements 161 Item 19 Exhibits 162 iii GENERAL IN FORMATION In this annual report on Form 20-F ("Annual Report"), "NuCana," "NuCana plc," the "Group," the "Company," "we," "us" and "our" refer to NuCana plc and its consolidated subsidiaries, except where the context otherwise requires. NuCana and Acelarin are our registered trademarks and ProTides TM is our trademark. PRESENTATION OF FINAN CIAL AND OTHER DATA The consolidated financial statement data as at December 31, 2023, 2022, 2021, 2020, and 2019 and for the years ended December 31, 2023, 2022, 2021, 2020, and 2019 have been derived from our consolidated financial statements, which have been prepared in accordance with International Financial Reporting Standards, or IFRS, as issued by the International Accounting Standards Board, or IASB and audited in accordance with the standards of the Public Company Accounting Oversight Board (United States). The financial statement data as at December 31, 2021, 2020 and 2019 and for the years ended December 31, 2020 and 2019 have been derived from our consolidated financial statements, which are not presented herein, which have also been prepared in accordance with IFRS as issued by IASB. All references in this Annual Report to "

Identity of Directors, Senior Management and Advisers

Item 1. Identity of Directors, Senior Management and Advisers Not Applicable.

Offer Statistics and Expected Timetable

Item 2. Offer Statistics and Expected Timetable Not Applicable.

Key I nformation

Item 3. Key I nformation A. Selected Fina ncial Data The following tables summarize our consolidated financial data as of the dates and for the periods indicated. The consolidated financial data as of and for the years ended December 31, 2023, 2022, 2021, 2020 and 2019 have been derived from our consolidated financial statements, which have been prepared in accordance with IFRS, as issued by the IASB, and audited in accordance with the standards of the Public Company Accounting Oversight Board (United States). Our historical results are not necessarily indicative of the results that may be expected in the future. The following selected consolidated financial data should be read in conjunction with Item 5, "Operating and Financial Review and Prospects" and our consolidated financial statements included elsewhere in this Annual Report. Year Ended December 31, 2023 2022 2021 2020 2019 (in thousands, except per share data) Consolidated statement of operations and comprehensive loss data: Research and development expenses (25,062 ) (36,426 ) (36,834 ) (25,899 ) (19,728 ) Administrative expenses (6,063 ) (7,291 ) (8,529 ) (7,050 ) (5,953 ) Impairment of intangible assets (503 ) (292 ) (2,809 ) — — Net foreign exchange (losses) gains (1,156 ) 4,887 267 (3,472 ) (1,019 ) Operating loss (32,784 ) (39,122 ) (47,905 ) (36,421 ) (26,700 ) Finance income 754 669 103 246 1,049 Loss before tax (32,030 ) (38,453 ) (47,802 ) (36,175 ) (25,651 ) Income tax credit 4,398 6,432 7,269 5,493 4,239 Loss for the year (27,632 ) (32,021 ) (40,533 ) (30,682 ) (21,412 ) Other comprehensive (expense) income: Items that may be reclassified subsequently to profit or loss: Exchange differences on translation of foreign operations (41 ) 61 5 (12 ) (11 ) Total comprehensive loss for the y

View Full Filing

View this 20-F filing on SEC EDGAR