NuCana plc
NCNAHealthcare|Biotechnology|GB
$0.94
+0.00 (+0.40%)
DCF Value
$14.72
Tangible Book / Share
$4.29
Cash / Share
$4.63
Financials
Financial Snapshot
Market Cap
$5.7M
Enterprise Value
-$14.5M
Revenue (TTM)
$0.00
Net Income (TTM)
-$9.7M
Cash & Investments
$19.4M
Net Cash
$18.7M
Free Cash Flow (TTM)
-$5.2M
Operating CF (TTM)
-$5.0M
Debt/Equity
0.03
Cash Runway & Burn Rate
Cash on Hand
$19.4M
Quarterly Burn
$1.2M
Monthly Burn
$414.9K
Est. Runway
~15.6 quarters
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $20.0M | $86.7M | $77.0M | $52.0M | $87.4M | $60.3M | $41.9M | $17.2M | $6.7M | $24.3M | $19.4M | |
| Operating Cash Flow | -$9.3M | -$8.7M | -$12.2M | -$23.8M | -$21.6M | -$23.8M | -$23.2M | -$26.4M | -$19.1M | -$7.5M | -$5.0M | |
| Free Cash Flow | -$9.8M | -$9.8M | -$13.8M | -$25.1M | -$23.3M | -$24.9M | -$23.7M | -$26.9M | -$19.4M | -$7.7M | -$5.2M | |
| Capital Expenditure | -$554.0K | -$1.1M | -$1.6M | -$1.3M | -$1.6M | -$1.1M | -$518.0K | -$478.0K | -$293.0K | -$193.0K | -$174.0K | |
| Financing Cash Flow | $200.0K | $77.7M | $207.0K | -$47.0K | $61.8M | -$98.0K | -$161.0K | -$53.0K | $8.2M | $25.0M | $15.3M |
R&D Spending
R&D (TTM)
$9.4M
R&D Intensity
—
R&D Growth vs Prior
-26.3%
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $283.0K | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| R&D Expense | $7.9M | $17.7M | $16.8M | $19.7M | $25.9M | $36.8M | $36.4M | $25.1M | $18.0M | $12.7M | $9.4M | |
| R&D % of Revenue | — | 6244.9% | — | — | — | — | — | — | — | — | — | |
| SG&A | $1.1M | $4.6M | $5.2M | $6.0M | $7.0M | $8.5M | $7.3M | $6.1M | $5.0M | $8.1M | $5.3M |
Income Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $283.0K | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Cost of Revenue | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $71.4K | |
| Gross Profit | $0.00 | $283.0K | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | -$71.4K | |
| R&D | $7.9M | $17.7M | $16.8M | $19.7M | $25.9M | $36.8M | $36.4M | $25.1M | $18.0M | $12.7M | $9.4M | |
| SG&A | $1.1M | $4.6M | $5.2M | $6.0M | $7.0M | $8.5M | $7.3M | $6.1M | $5.0M | $8.1M | $5.3M | |
| Operating Income | -$8.4M | -$22.2M | -$22.0M | -$26.7M | -$36.4M | -$47.9M | -$39.1M | -$32.8M | -$22.8M | -$20.1M | -$13.3M | |
| Interest Expense | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Pretax Income | -$8.2M | -$25.5M | -$18.1M | -$25.7M | -$36.2M | -$47.8M | -$38.5M | -$32.0M | -$22.5M | -$30.5M | -$11.0M | |
| Net Income | -$6.0M | -$23.1M | -$13.8M | -$21.4M | -$30.7M | -$40.5M | -$32.0M | -$27.6M | -$19.0M | -$29.4M | -$9.7M | |
| EPS (Diluted) | 1359.22 | -4747.43 | -2886.02 | -4224.99 | -5193.15 | -5355.91 | -3775.53 | -3266.68 | -1635.98 | -17.20 | -2.97 | |
| EBITDA | $101.0K | $194.0K | $371.0K | $718.0K | -$28.6M | -$44.4M | -$43.0M | -$30.6M | -$22.5M | -$20.6M | -$14.4M | |
| Shares Out. (M) | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 2.25 | 4.19 |
Balance Sheet
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $20.0M | $86.7M | $77.0M | $52.0M | $87.4M | $60.3M | $41.9M | $17.2M | $6.7M | $24.3M | $19.4M | |
| Short-Term Investments | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Total Current Assets | $25.8M | $94.0M | $83.6M | $65.2M | $101.8M | $71.6M | $54.9M | $25.0M | $12.3M | $26.9M | $22.7M | |
| Total Assets | $27.2M | $96.4M | $87.2M | $70.3M | $107.8M | $77.5M | $58.3M | $27.8M | $14.8M | $29.8M | $25.6M | |
| Total Current Liabilities | $2.0M | $2.9M | $5.6M | $6.2M | $8.1M | $11.7M | $19.3M | $12.7M | $8.7M | $4.8M | $4.8M | |
| Long-Term Debt | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Total Liabilities | $2.0M | $2.9M | $5.6M | $6.7M | $8.6M | $11.9M | $19.8M | $12.9M | $8.8M | $5.5M | $5.5M | |
| Stockholders' Equity | $25.2M | $93.4M | $81.6M | $63.5M | $99.2M | $65.5M | $38.5M | $14.9M | $6.0M | $24.3M | $20.1M | |
| Retained Earnings | -$22.3M | -$45.2M | -$58.8M | -$80.1M | -$110.6M | -$149.7M | -$180.6M | -$207.7M | -$224.3M | -$252.3M | -$252.2M |
Cash Flow Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$9.3M | -$8.7M | -$12.2M | -$23.8M | -$21.6M | -$23.8M | -$23.2M | -$26.4M | -$19.1M | -$7.5M | -$5.0M | |
| Capital Expenditure | -$554.0K | -$1.1M | -$1.6M | -$1.3M | -$1.6M | -$1.1M | -$518.0K | -$478.0K | -$293.0K | -$193.0K | -$174.0K | |
| Free Cash Flow | -$9.8M | -$9.8M | -$13.8M | -$25.1M | -$23.3M | -$24.9M | -$23.7M | -$26.9M | -$19.4M | -$7.7M | -$5.2M | |
| Investing Cash Flow | $14.9M | -$933.0K | -$651.0K | -$145.0K | -$1.3M | -$3.6M | $120.0K | $2.9M | $79.0K | $159.0K | $236.1K | |
| Financing Cash Flow | $200.0K | $77.7M | $207.0K | -$47.0K | $61.8M | -$98.0K | -$161.0K | -$53.0K | $8.2M | $25.0M | $15.3M | |
| Issuance of Stock | $200.0K | $79.8M | $0.00 | $125.0K | $66.6M | $198.0K | $66.0K | $249.0K | $8.7M | $26.4M | $16.4M | |
| Repurchase of Stock | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Net Debt Issuance | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | -$296.0K | -$227.0K | -$270.0K | -$223.0K | -$54.0K | -$40.0K | |
| Stock Based Comp. | $1.1M | $11.7M | $1.8M | $3.2M | $4.3M | $6.7M | $4.9M | $3.9M | $1.6M | $10.0M | $3.7M | |
| Net Change in Cash | $5.9M | $66.7M | -$9.7M | -$25.0M | $35.4M | -$27.1M | -$18.4M | -$24.7M | -$10.5M | $17.5M | $11.2M |
Dilution Tracker
Shares outstanding grew 29550.3% over 5 years — significant dilution
Shares Outstanding
6M
5-Year Share Growth
+29550.3%
Stock Issuance (TTM)
$16.4M
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 2.25 | 4.19 | |
| Change vs Prior % | — | -1.6% | 2.1% | 1.1% | 17.2% | 37.4% | 0.4% | 0.6% | 41.1% | 15038.9% | 86.3% | |
| Stock Issuance | $200.0K | $79.8M | $0.00 | $125.0K | $66.6M | $198.0K | $66.0K | $249.0K | $8.7M | $26.4M | $16.4M | |
| Stock Repurchase | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $1.1M | $11.7M | $1.8M | $3.2M | $4.3M | $6.7M | $4.9M | $3.9M | $1.6M | $10.0M | $3.7M |
Margins & Profitability
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin % | — | 100.0% | — | — | — | — | — | — | — | — | — | |
| Operating Margin % | — | -7860.8% | — | — | — | — | — | — | — | — | — | |
| Net Margin % | — | -8157.2% | — | — | — | — | — | — | — | — | — | |
| EBITDA Margin % | — | 68.6% | — | — | — | — | — | — | — | — | — | |
| FCF Margin % | — | -3464.0% | — | — | — | — | — | — | — | — | — | |
| ROE % | -24.0% | -24.7% | -17.0% | -33.7% | -30.9% | -61.8% | -83.2% | -185.6% | -319.1% | -120.7% | -41.9% | |
| ROA % | -22.2% | -24.0% | -15.9% | -30.5% | -28.5% | -52.3% | -55.0% | -99.4% | -128.6% | -98.4% | -38.0% | |
| ROIC % | -24.8% | -21.6% | -20.7% | -34.6% | -30.9% | -61.6% | -83.1% | -184.4% | -312.2% | -77.2% | -56.6% | |
| R&D / Revenue % | — | 6244.9% | — | — | — | — | — | — | — | — | — |
Growth (Year over Year)
Fiscal years. Rising share count growth means dilution.
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 0.0% | 0.0% | -100.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |
| Gross Profit | 0.0% | 0.0% | -100.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |
| Operating Income | -22.2% | -163.3% | 1.0% | -21.2% | -36.4% | -31.5% | 18.3% | 16.2% | 30.4% | 11.8% | |
| Net Income | -13.4% | -281.6% | 40.0% | -54.7% | -43.3% | -32.1% | 21.0% | 13.7% | 31.3% | -54.5% | |
| EPS (Diluted) | 206.2% | -449.3% | 39.2% | -46.4% | -22.9% | -3.1% | 29.5% | 13.5% | 49.9% | 98.9% | |
| Operating Cash Flow | -107.4% | 6.0% | -40.4% | -95.0% | 9.3% | -10.2% | 2.8% | -14.2% | 27.7% | 60.9% | |
| Free Cash Flow | -101.9% | 0.2% | -41.3% | -81.2% | 7.3% | -7.0% | 4.9% | -13.7% | 27.9% | 60.5% | |
| R&D Expense | 39.8% | 123.6% | -4.7% | 17.1% | 31.3% | 42.2% | -1.1% | -31.2% | -28.1% | -29.3% | |
| SG&A Expense | -8.6% | 300.1% | 13.4% | 14.8% | 18.4% | 21.0% | -14.5% | -16.8% | -17.7% | 62.3% | |
| Total Assets | -14.1% | 254.1% | -9.5% | -19.4% | 53.4% | -28.1% | -24.8% | -52.3% | -46.9% | 101.9% | |
| Book Value / Share | -15.8% | 276.0% | -14.5% | -23.0% | 33.3% | -51.9% | -41.5% | -61.6% | -71.7% | -97.3% | |
| Debt | 0.0% | 0.0% | 0.0% | 0.0% | -20.0% | -42.5% | 72.2% | -38.0% | -52.0% | 255.8% | |
| Diluted Shares | 0.0% | -1.6% | 2.1% | 1.1% | 17.2% | 37.4% | 0.4% | 0.6% | 41.1% | 15038.9% |
Valuation
P/E (TTM)At Loss
P/S0.00
P/B0.15
10Y Low / Med / High0.25 / 1.40 / 16.49
EV/EBITDA1.01
10Y Low / Med / High0.15 / 135.85 / 3922.49
EV/Revenue0.00
P/FCFAt Loss
Intrinsic Value Models (per share)
DCF Value
$14.72
Tangible Book / Share
$4.29
Net Current Assets / Share
$2.83
Graham Net-Net
$3.76
Cash / Share
$4.63
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio | 48.12 | -7.88 | -19.69 | -5.44 | -3.16 | -1.64 | -0.72 | -0.36 | -0.12 | -0.16 | -0.24 | |
| P/S Ratio | 0.00 | 827.95 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| P/B Ratio | 16.49 | 2.51 | 4.45 | 2.34 | 1.25 | 1.40 | 0.74 | 0.82 | 0.47 | 0.25 | 0.15 | |
| EV/EBITDA | 3922.49 | 760.86 | 772.05 | 135.85 | -1.32 | -0.71 | 0.30 | 0.15 | 0.17 | 0.85 | 1.01 | |
| EV/Revenue | 0.00 | 521.58 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Analyst Estimates & Quality
Altman Z-Score
-14.36
Distress
Piotroski F-Score
2
Weak
Forward Estimates (consensus)
| Metric | FY2026 | FY2027 | FY2028 |
|---|---|---|---|
| Revenue | $3.4M | $8.9M | $19.1M |
| Net Income | -$18.3M | -$119.0M | -$256.4M |
| EPS | $-8.15 | $-52.99 | $-114.14 |
| # Analysts (EPS) | 1 | 1 | 1 |