Company: NCNA
Filing Date: 2025-06-27
Form Type: 424B5
Source: 0001193125-25-151464
Chunk: 16

Company: NuCana plc
Filing Date: 2025-06-27
Form: 424B5
Chunk 16
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| Net tangible book value per ADS as of March 31, 2025                            |     | $  | 0.42 |   |     |   |      |
| Decrease per ADS attributable to pro forma adjustment above                     |     | ($ | 0.39 | ) |     |   |      |
| Pro forma net tangible book value per ADS as of March 31, 2025                  |     | $  | 0.03 |   |     |   |      |
| Increase in net tangible book value per ADS attributable to the offering        |     | $  | 0.05 |   |     |   |      |
| As adjusted net tangible book value per ADS after giving effect to the offering |     |    |      |   |     | $ | 0.08 |
| Dilution per ADS to new investors participating in the offering                 |     |    |      |   |     | $ | 0.02 |

The number of our ordinary shares to be outstanding immediately after this offering is 34,540,891,147 which is based on 9,540,891,147 ordinary shares outstanding as of June 20, 2025. The number of shares outstanding excludes (i) 3,480,390,631 ordinary shares issuable upon exercise of outstanding options under our equity incentive plans as of June 20, 2025 at a weighted average exercise price of £0.0013 per ordinary share and (ii) 1,487,027,625 ordinary shares underlying ADSs issuable upon exercise of outstanding Series A Warrants as of June 26, 2025. To the extent that outstanding options are exercised, you will experience further dilution. In addition, we may choose to raise additional capital due to market conditions or strategic considerations even if we believe we have sufficient funds for our current or future operating plans. To the extent that additional capital is raised through the sale of equity or convertible debt securities, the issuance of these securities may result in further dilution to our shareholders. S-13

PLAN OF DISTRIBUTION

We have entered into the Sales Agreement with A.G.P. and Laidlaw, acting as our Sales Agents, under which we may issue and sell our ADSs from
time to time up to $100,000,000 to or through the Sales Agents. The sales of our ADSs, if any, under this prospectus supplement will be made at market prices by any method deemed