Nucana Plunges 64.78% on Offering, Trial Suspension

On May 8, 2025, Nucana's stock experienced a dramatic drop of 64.78% in pre-market trading, marking a significant shift in investor sentiment towards the company.

Nucana's recent stock price decline can be attributed to several key factors. The company announced a direct offering of approximately 10.85 million American depositary shares, aiming to raise around $7 million. This offering, priced at $0.6454 per share, included warrants that allowed investors to purchase additional shares at specified prices. The proceeds from this offering are intended to support the company's drug discovery and development programs, as well as other corporate purposes.

Additionally, Nucana suspended the enrollment of new patients in a late-stage trial for a pancreatic cancer treatment. This suspension further dampened investor confidence, contributing to the significant drop in the stock price. The combination of the direct offering and the trial suspension has led to a substantial decrease in Nucana's market value, reflecting the heightened uncertainty and risk perceived by investors.