Company: NCNA
Filing Date: 2025-03-20
Form Type: 20-F
Source: 0000950170-25-042709
Chunk: 184

Company: NuCana plc
Filing Date: 2025-03-20
Form: 20-F
Item: Item 5
Chunk 184
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 and development costs decreased in 2024 by £3.3 million principally due to lower personnel costs and share-based payment expenses.

The following table gives a breakdown of the research and development costs incurred by product for the years ended December 31, 2024 and 2023:
 

               Year ended December 31,                
           2024                     2023              
               (unaudited)                            
               (in thousands)                         
NUC-3373       £     14,825               £     17,754
NUC-7738              2,630                      3,603
Acelarin               (467   )                  2,204
Other                 1,029                      1,501
               £     18,017               £     25,062
Administrative Expenses
Administrative expenses were £5.0 million for the year ended December 31, 2024 as compared to £6.1 million for the year ended December 31, 2023, a decrease of £1.1 million. The decrease was primarily related to lower share-based payment expenses, personnel costs, and insurance costs, partly offset by higher professional fees.
Impairment of Intangible Assets
 We regularly review our patent portfolio and during 2024 further development associated with a limited number of patents was discontinued. Management concluded that this was an indication of impairment and an impairment charge of £33,000 has been recognized, representing the full aggregate carrying value of those patents as of December 31, 2024. This compared to an impairment charge of £0.5 million recognized as of December 31, 2023.
Net Foreign Exchange Gains (Losses)
For the year ended December 31, 2024, we reported a net foreign exchange gain of £0.2 million as compared to a net foreign exchange loss of £1.2 million for the year ended December 31, 2023. In 2024, the gain primarily arose from cash balances held in U.S. dollars and the U.S. dollar appreciating relative to the U.K. pound sterling. Conversely in 2023, the loss arose from cash balances held in U.S. dollars and the U.S. dollar depreciating relative to the U.K. pound sterling.
Finance Income
Finance income represents bank interest and was £0.4 million for the year ended December 31, 2024 and £0.8 million for the year ended December 31, 2023