Company: NCNA
Filing Date: 2025-03-20
Form Type: 20-F
Source: 0000950170-25-042709
Chunk: 17

Company: NuCana plc
Filing Date: 2025-03-20
Form: 20-F
Item: Item 3
Chunk 17
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 are brought into tax legislation, regulations, policies or practices in jurisdictions in which we operate or in the future into which we sell our products, could increase the estimated tax liability that we have expensed to date and paid or accrued on our balance sheets, and otherwise affect our financial position, future results of operations, cash flows in a particular period and overall or effective tax rates in the future in countries where we have operations or may sell our products, reduce post-tax returns to our shareholders and increase the complexity, burden and cost of tax compliance.
 

Our business may become subject to economic, political, regulatory and other risks associated with international operations.
 As a company based in the United Kingdom, our business is subject to risks associated with conducting business internationally. Many of our suppliers and collaborative and clinical trial relationships are located outside of the United States. Accordingly, our future results could be harmed by a variety of factors, including:
 •economic weakness, including inflation, or political instability;
 •differing and changing regulatory requirements for drug approvals;
 •differing jurisdictions could present different issues for securing, maintaining or obtaining freedom to operate in such jurisdictions;
 •potentially reduced protection for intellectual property rights;
 •difficulties in compliance with non-U.S. laws and regulations;
 •changes in regulations and customs, tariffs and trade barriers;
 •changes in currency exchange rates of the pound sterling, the euro and currency controls;
 •changes in a specific country’s or region’s political or economic environment, including the implications of the United Kingdom’s withdrawal from the European Union, or any potential future referendum regarding the independence of Scotland;
 •trade protection measures, import or export licensing requirements or other restrictive actions by U.S. or non-U.S. governments;
 •differing reimbursement regimes and price controls in certain non-U.S. markets;
 •negative consequences from changes in tax laws;
 •compliance with tax, employment, immigration and labor laws for employees living or traveling abroad;
 •workforce uncertainty in countries where labor unrest is more common than in the United States;
 •difficulties associated with staffing and managing international operations, including differing labor relations;
 •production shortages resulting from any events affecting raw material supply or manufacturing capabilities abroad;
 •business interruptions resulting from geo-political actions, including war and terrorism, or natural disasters including earthquakes, typhoons, floods and fires; and
 •changes in financial markets or general economic conditions, including the effects of recession or slow economic growth in the U.S. and abroad, interest rates, fuel prices, international currency fluctuations, corruption