Company: NCNA
Filing Date: 2025-06-27
Form Type: 424B5
Source: 0001193125-25-151464
Chunk: 7

Company: NuCana plc
Filing Date: 2025-06-27
Form: 424B5
Chunk 7
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 and the proceeds may not be invested successfully.

Our management will have broad discretion as to the use of the net proceeds from this
offering and could use them for purposes other than those contemplated at the time of this offering. Accordingly, you are relying on the judgment of our management with regard to the use of these net proceeds, and you will not have the opportunity,
as part of your investment decision, to assess whether the proceeds will be used appropriately. It is possible that the proceeds will be invested in a way that does not yield a favorable, or any, return for NuCana.

Purchasers will experience immediate dilution in the book value per share of the ADSs purchased in the offering.

The ordinary shares represented by ADSs sold in this offering, if any, will be sold from time to time at various prices. However, we expect
that the offering price of our ADSs will be substantially higher than the net tangible book value per ADS, and per each underlying ordinary share, prior to this offering. After giving effect to the sale of ADSs stock in the aggregate amount of
$100.0 million at an assumed offering price of $0.10 per ADS, the reported sale price of our ADSs on June 20, 2025 on The Nasdaq Capital Market, and after deducting commissions and estimated offering expenses, our as adjusted net tangible
book value as of March 31, 2025 would have been £84.8 million, or £0.00 per ordinary share, equivalent to $0.00 per ordinary share and $0.08 per ADS. This represents an immediate increase in net tangible book value of $0.00 per
ordinary share and $0.05 per ADS to our existing shareholders and an immediate dilution in as adjusted net tangible book value of $0.00 per ordinary share and $0.02 per ADS to purchasers of ADSs in this offering.

In addition to this offering, subject to market conditions and other factors, we may pursue additional equity financings in the future,
including future public offerings or future private placements of equity securities or securities convertible into or exchangeable for equity securities. Further, the exercise of outstanding options could result in further dilution to investors and
any additional ordinary shares or ADSs issued in connection with acquisitions, should we choose to pursue any, will result in dilution to investors. In addition, the market price of

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our ADS could fall as a result of resales of any of these ADSs due