Company: NCNA
Filing Date: 2025-03-20
Form Type: 20-F
Source: 0000950170-25-042709
Chunk: 189

Company: NuCana plc
Filing Date: 2025-03-20
Form: 20-F
Item: Item 5
Chunk 189
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 )           £     (23,158   )
Net cash from investing activities                      2,888               120              
Net cash used in financing activities                     (53   )                    (161   )
Net decrease in cash and cash equivalents       £     (23,604   )           £     (23,199   )
 
Operating activities. Net cash used in operating activities was £26.4 million in 2023 as compared to £23.2 million in 2022, a net increase in cash outflows of £3.2 million. Operating loss cash flows were lower by £3.3 million in 2023, primarily reflecting lower research and development costs partially offset by movement in provisions. Working capital outflows were £1.3 million for the year ended December 31, 2023 as compared to working capital inflows of £3.7 million for the year ended December 31, 2022. In addition, a tax refund of £5.6 million was received in 2023 compared to £7.2 million in 2022.

Investing activities. Net cash from investing activities was £2.9 million in 2023 as compared to £0.1 million in 2022. Repayment of other assets totaled £2.6 million in the year ended December 31, 2023 with no similar repayment in 2022. Interest received in 2023 was £0.8 million compared with £0.6 million in 2022, an increase of £0.2 million.

Financing activities. Net cash used in financing activities was £0.1 million in 2023 as compared to £0.2 million in 2022 reflecting an increase in the proceeds from the issue of share capital.

108

Contractual Obligations
 The following table summarizes our contractual lease commitments and obligations as of December 31, 2024.

                    Payments Due by Period                                                                   
                    Total              Less than             1 - 3              3 - 5             More than  
                                       1 year                years              years             5 years    
                    (in thousands)                                                                           
Lease liabilities   £    205           £      82             £    123                —                   —   
 
Lease liabilities relate to rental of office space.
We have agreed to make milestone payments and pay royalties to third parties under various licensing and related agreements and we have agreed to make payments to CROs and manufacturers under various CRO and manufacturing agreements. We have