NuCana plc (NASDAQ: NCNA) is a British biopharmaceutical company that is fully geared to developing effective treatments against cancer. The company has, over the years, developed several products that are effective agents to administer to chemotherapy patients. An announcement made by the management, earlier this year, however, saw NCNA stock price crashing.
A Look at NCNA
NuCana plc (NCNA) holds a healthy pipeline that consists of both early and mid-stage trial candidates that each target a different cancerous condition. At present, at least 16 anti-cancer nucleoside drug treatments by NuCana have seen approval from the FDA. These are essentially chemotherapy agents, and cater to a mammoth market, both within the United States and globally. The company also aims to develop two core compounds by which further medication can develop and see delivered to patients undergoing chemotherapy. With its cash holding totaling above the $56 million figure, NCNA is capable of pushing through its development efforts for several years.
NuCana’s Trial Discontinuation
Earlier this year NCNA stock suffered quite a blow in the market with its price plummeting suddenly from almost $3 to less than $0.75. The reason for this fall was the announcement that NuCana would be discontinuing its biliary tract cancer treatment candidate, Acelarin. The market reacted so strongly because Acelarin was the most advanced candidate in the company’s development pipeline, and therefore had investors’ hopes most keenly tied to its progress. The decision came from the data monitoring committee, on the basis of a futility analysis that experts rigorously conducted on the findings.
Although the market had reacted quite negatively to the news of the Acelarin discontinuation, NCNA prospects appear strong overall. This is in large part due to the strong development pipeline, and a wide mix of FDA-approved treatments that are already under NuCana’s belt.