Company: NCNA
Filing Date: 2025-06-27
Form Type: 424B5
Source: 0001193125-25-151464
Chunk: 10

Company: NuCana plc
Filing Date: 2025-06-27
Form: 424B5
Chunk 10
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 provided. If we are unable to regain compliance with the bid price requirement within the 180-calendar day grace period or if no grace period is available to us,
we may be delisted from The Nasdaq Capital Market unless we change the ratio of our ADSs to ordinary shares; however, there can be no assurance that we will be able to change the ratio of our ADSs to ordinary shares or that, if we are able to change
the ratio, changing the ratio of our ADSs to ordinary shares will allow us to regain compliance with the bid price requirement. We are monitoring the closing bid price of our ADSs and expect to implement a change in the ratio of our ADSs to ordinary
shares with the aim of regaining compliance with the bid price requirement under the Nasdaq Listing Rules.

In the event of a delisting
notice, we would typically have an opportunity to appeal such a decision to the Nasdaq Hearing Panel or take other measures to preserve the listing of our ADSs on The Nasdaq Capital Market, but these measures and any appeal may not be successful. If
our ADSs are delisted by The Nasdaq Stock Market, our ADSs may be eligible to trade on an over-the-counter quotation system, where an investor may find it more difficult to sell our ADSs or obtain accurate quotations as to the market value of our
ADSs. We cannot ensure that our ADSs, if delisted from The Nasdaq Capital Market, will be listed on any national securities exchange or quoted on an over-the-counter quotation system.

In the event we are delisted from The Nasdaq Capital Market, the only established trading market for our ADSs would be eliminated, and we
would be forced to list our shares on the OTC Markets or another quotation medium, depending on our ability to meet the specific listing requirements of those quotation systems. As a result, an investor would likely find it more difficult to trade
or obtain accurate price quotations for our ADSs. Delisting would likely also reduce the visibility, liquidity, and value of our ADSs, reduce institutional investor interest in our company, and may increase the volatility of our ADSs. Delisting
could also cause a loss of confidence of potential industry partners, lenders, and employees, which could further harm our business and our future prospects.

Unless our ADSs are listed on a national securities exchange, such as The Nasdaq Stock Market, our ADSs will also likely be subject to the
regulations and restrictions regarding trading in “penny stocks,” which are