EX-99.1

Exhibit 99.1

NUCANA PLC

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

		$			$			$			$
		For the Three Months Ended September 30,						For the Nine Months Ended September 30,
	*Notes*	2026			2025			2026			2025
		(in thousands, except per share data)
		£			£			£			£
Research and development expenses			(772	)		(2,172	)		(6,235	)		(11,001	)
Administrative expenses			(935	)		(1,399	)		(3,690	)		(6,989	)
Other income	3		—			841			—			841
Net foreign exchange (losses) gains			(14	)		100			239			(161	)

Operating loss			(1,721	)		(2,630	)		(9,686	)		(17,310	)
Other income	3		—			1,851			—			1,851
Finance income			118			153			395			213
Finance expense	4		—			—			—			(12,648	)

Loss before tax			(1,603	)		(626	)		(9,291	)		(27,894	)
Income tax (charge) credit	5		(4	)		345			739			1,026

Loss for the period attributable to equity holders of the Company			(1,607	)		(281	)		(8,552	)		(26,868	)

Basic and diluted loss per ordinary share	6		(0.00	)		(0.00	)		(0.00	)		(0.00	)

The accompanying notes form an integral part of these unaudited condensed consolidated financial statements.

NUCANA PLC

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS

	$			$			$			$
	For the Three Months Ended September 30,						For the Nine Months Ended September 30,
	2026			2025			2026			2025
	(in thousands)
	£			£			£			£
Loss for the period		(1,607	)		(281	)		(8,552	)		(26,868	)
Other comprehensive income (expense):
Items that may be reclassified subsequently to profit or loss:
Exchange differences on translation of foreign operations		—			14			13			(62	)

Other comprehensive income (expense) for the period		—			14			13			(62	)

Total comprehensive loss for the period		(1,607	)		(267	)		(8,539	)		(26,930	)

Attributable to:
Equity holders of the Company		(1,607	)		(267	)		(8,539	)		(26,930	)

The accompanying notes form an integral part of these unaudited condensed consolidated financial statements.

NUCANA PLC

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION

AS AT

		$			$
		September 30, 2026			December 31, 2025
		(in thousands)
	*Notes*	£			£
Assets
Non-current assets
Intangible assets	7		2,203			2,198
Property, plant and equipment			605			658
Deferred tax asset	5		127			117

			2,935			2,973

Current assets
Prepayments, accrued income and other receivables			639			849
Current income tax receivable	5		2,491			1,761
Cash and cash equivalents	8		18,349			24,251

			21,479			26,861

Total assets			24,414			29,834

Equity and liabilities
Capital and reserves
Share capital and share premium	10		190,087			189,586
Other reserves			84,011			87,075
Accumulated deficit			(254,540	)		(252,334	)

Total equity attributable to equity holders of the Company			19,558			24,327

Non-current liabilities
Provisions			58			58
Lease liabilities			626			656

			684			714

Current liabilities
Trade payables			310			522
Payroll taxes and social security			143			99
Accrued expenditure			3,681			4,152
Lease liabilities			38			20

			4,172			4,793
Total liabilities			4,856			5,507

Total equity and liabilities			24,414			29,834

The accompanying notes form an integral part of these unaudited condensed consolidated financial statements.

NUCANA PLC

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY

	$		$			$			$			$			$		$			$
	For the Nine Months Ended September 30,
	Share capital		Share premium			Own share reserve			Share option reserve			Foreign currency translation reserve			Capital reserve		Accumulated deficit			Total equity attributable to equity holders
	(in thousands)
	£		£			£			£			£			£		£			£
Balance at January 1, 2025		5,681		146,146			(339	)		36,276			18			42,466		(224,294	)		5,954
Loss for the period		—		—			—			—			—			—		(26,868	)		(26,868	)
Other comprehensive expense for the period		—		—			—			—			(62	)		—		—			(62	)

Total comprehensive loss for the period		—		—			—			—			(62	)		—		(26,868	)		(26,930	)
Share-based payments		—		—			—			9,143			—			—		—			9,143
Exercise of share options		1		—			—			(43	)		—			—		43			1
Lapse of share options		—		—			—			(860	)		—			—		860			—
Issue of share capital		4,927		15,258			—			—			—			—		—			20,185
Exercise of warrants		3,731		15,188			—			—			—			—		—			18,919
Share issue expenses		—		(1,346	)		—			—			—			—		—			(1,346	)

Balance at September 30, 2025		14,340		175,246			(339	)		44,516			(44	)		42,466		(250,259	)		25,926


Balance at January 1, 2026		14,340		175,246			(339	)		44,991			(43	)		42,466		(252,334	)		24,327
Loss for the period		—		—			—			—			—			—		(8,552	)		(8,552	)
Other comprehensive income for the period		—		—			—			—			13			—		—			13

Total comprehensive loss for the period		—		—			—			—			13			—		(8,552	)		(8,539	)
Share-based payments		—		—			—			3,269			—			—		—			3,269
Lapse of share options		—		—			—			(6,346	)		—			—		6,346			—
Issue of share capital		13		729			—			—			—			—		—			742
Share issue expenses		—		(241	)		—			—			—			—		—			(241	)

Balance at September 30, 2026		14,353		175,734			(339	)		41,914			(30	)		42,466		(254,540	)		19,558

The accompanying notes form an integral part of these unaudited condensed consolidated financial statements.

NUCANA PLC

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

	$			$
	For the Nine Months Ended September 30,
	2026			2025
	(in thousands)
	£			£
Cash flows from operating activities
Loss for the period		(8,552	)		(26,868	)
Adjustments for:
Income tax credit		(739	)		(1,026	)
Amortization and depreciation		209			205
Movement in provisions		—			(40	)
Finance income		(395	)		(213	)
Finance expense		—			12,648
Interest expense on lease liabilities		37			7
Share-based payments		3,269			9,143
Net foreign exchange (gains) losses		(257	)		221

		(6,428	)		(5,923	)
Movements in working capital:
Decrease (increase) in prepayments, accrued income and other receivables		199			(2,023	)
Decrease in trade payables		(213	)		(1,044	)
Decrease in payroll taxes, social security and accrued expenditure		(427	)		(1,315	)

Movements in working capital		(441	)		(4,382	)

Cash used in operations		(6,869	)		(10,305	)

Net income tax received		—			3,988

Net cash used in operating activities		(6,869	)		(6,317	)

Cash flows from investing activities
Interest received		405			168
Payments for intangible assets		(160	)		(143	)

Net cash from investing activities		245			25

Cash flows from financing activities
Payments for lease liabilities		(48	)		(61	)
Proceeds from exercise of share options		—			1
Proceeds from issue of share capital		742			20,185
Proceeds from exercise of warrants		—			4,436
Proceeds from issue of warrants		—			4,439
Payment for cancellation of warrants		—			(2,655	)
Share issue expenses		(241	)		(1,346	)

Net cash from financing activities		453			24,999

Net (decrease) increase in cash and cash equivalents		(6,171	)		18,707
Cash and cash equivalents at beginning of period		24,251			6,749

Effect of exchange rate changes on cash and cash equivalents		269			(207	)

Cash and cash equivalents at end of period		18,349			25,249

The accompanying notes form an integral part of these unaudited condensed consolidated financial statements.

NUCANA PLC

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

1. General information

NuCana plc (“NuCana” or the “Company”) is a clinical-stage biopharmaceutical company developing a portfolio of new medicines to treat patients with cancer. NuCana is harnessing the power of phosphoramidate chemistry to generate new medicines called ProTides. These compounds have the potential to improve cancer treatment by enhancing the efficacy and safety of several current standards of care.

The Company has had American Depositary Shares (“ADSs”) registered with the US Securities and Exchange Commission (“SEC”) and has been listed on Nasdaq since October 2, 2017. From November 9, 2023 the Company transferred its listing to The Nasdaq Capital Market. On April 16, 2024, the Company effected a ratio change of its ADSs to its ordinary shares from one ADS representing one ordinary share, to one ADS representing 25 ordinary shares. On August 11, 2025, the Company effected a ratio change of its ADSs to its ordinary shares from one ADS representing 25 ordinary shares, to one ADS representing 5,000 ordinary shares.

The Company is incorporated in England and Wales and domiciled in the United Kingdom. The Company’s registered office is located at 77/78 Cannon Street, London EC4N 6AF, United Kingdom and its principal place of business is located at 3 Lochside Way, Edinburgh, EH12 9DT, United Kingdom.

The Company has three wholly owned subsidiaries, NuCana, Inc., NuCana Limited and NuCana BioMed Trustee Company Limited (together referred to as the “Group”).

The financial information presented in these unaudited condensed consolidated financial statements does not constitute the Group’s statutory accounts within the meaning of section 434 of the U.K. Companies Act 2006.

The Group’s statutory accounts for the year ended December 31, 2025 have been reported on by the Company’s auditor, and delivered to the Registrar of Companies. The report of the auditor was (i) unqualified and (ii) did not include a reference to any matters to which the auditors drew attention by way of emphasis without qualifying their report.

2. Material accounting policies

Basis of preparation

The unaudited condensed consolidated financial statements (the “financial statements”) for the nine months ended September 30, 2026 have been prepared in accordance with International Accounting Standard 34, “Interim Financial Reporting” (“IAS 34”). The material accounting policies and methods of computation applied in the preparation of the financial statements are consistent with those applied in the Company’s annual financial statements for the year ended December 31, 2025.

Comparative information has been reclassified to reflect the presentation adopted in the financial statements for the year ended December 31, 2025. Other income of £1.9 million relating to the ADR depositary contribution has been reclassified below operating loss. The reclassification has no impact on loss before tax or loss for the period.

No new standards, amendments or interpretations have had an impact on the financial statements for the nine months ended September 30, 2026. The financial statements comprise the financial statements of the Group at September 30, 2026. The financial statements are presented in pounds sterling, which is also the Company’s functional currency. All values are rounded to the nearest thousand, except where otherwise indicated.

The financial statements do not include all the information and disclosures required in the annual financial statements, and should be read in conjunction with the Company’s annual financial statements for the year ended December 31, 2025.

In the opinion of management, these unaudited condensed consolidated financial statements include all normal recurring adjustments necessary for a fair statement of the results of operations, financial position and cash flows. The results of operations for the nine months ended September 30, 2026 are not necessarily indicative of the results that can be expected for the Company’s fiscal year ending December 31, 2026.

Going concern

The Company’s consolidated financial statements have been presented on the basis that it is a going concern. The Company has not generated any revenues from operations to date and does not expect to in the foreseeable future. As such, the Company has incurred recurring net losses, has an accumulated deficit totaling £254.5 million and cash flows used in operating activities of £6.9 million as of and for the nine months ended September 30, 2026. The Company had £18.3 million of cash and cash equivalents at September 30, 2026.

In reviewing the going concern assessment the Company’s board of directors have considered a going concern period of 12-months from the issuance of these financial statements. Based on its current operating budgets and development plans, the Company’s cash and cash equivalents on hand will be sufficient to fund its anticipated operations for the entirety of the going concern assessment period. The board of directors is therefore satisfied that it is appropriate to adopt the going concern basis of accounting in preparing the financial statements.

As the Company continues to incur losses, the transition to profitability is dependent upon the successful development, approval and commercialization of its product candidates and achieving a level of revenues adequate to support its cost structure. The Company may never achieve profitability, and unless and until it does, it will continue to need additional capital beyond the going concern assessment period. The Company may also need to raise additional funds if it chooses to expand its current development program. There can be no assurances, however, that additional funding will be available on acceptable terms.

Judgements and estimates

The accounting estimates and judgements made by management in applying the Group’s accounting policies that have the most material effect on the amounts included within these financial statements were the same as those that applied to the annual financial statements for the year ended December 31, 2025.

3. Other income

	$		$		$		$
	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2026		2025		2026		2025
	(in thousands)
	£		£		£		£
Insurance proceeds		—		841		—		841
ADR depositary contribution		—		1,851		—		1,851

Total other income		—		2,692		—		2,692

In the nine months ended September 30, 2025, insurance proceeds represented a one-off payout under a key person policy and ADR depositary contribution related to an amount received from the ADR depositary in relation to the ADS ratio change completed in August 2025.

4. Finance expense

	$		$		$		$
	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2026		2025		2026		2025
	(in thousands)
	£		£		£		£
Revaluation loss from derivative financial instruments		—		—		—		(12,648	)

The non-cash revaluation loss from derivative financial instruments of £12.6 million for the nine months ended September 30, 2025 related to the fair value remeasurement of Series A and Series B warrants.

5. Income tax

	$			$			$			$
	For the Three Months Ended September 30,						For the Nine Months Ended September 30,
	2026			2025			2026			2025
	(in thousands)
	£			£			£			£
Current tax:
In respect of current period U.K.		240			363			977			1,011
In respect of prior period U.K.		(247	)		(27	)		(247	)		(3	)

		(7	)		336			730			1,008
Deferred tax:
In respect of current period U.S.		3			9			9			18

Income tax (charge) credit		(4	)		345			739			1,026

The income tax credit recognized primarily represents the U.K. research and development tax credits. In the United Kingdom, the Company is able to surrender some of its losses for a cash rebate of up to 26.97% of expenditure related to eligible research and development projects.

	$		$
	September 30, 2026		December 31, 2025
	(in thousands)
	£		£
Current income tax receivable
U.K. tax		2,489		1,759
U.S. tax		2		2

		2,491		1,761

Deferred tax asset
U.S. deferred tax asset		127		117

6. Basic and diluted loss per ordinary share

	$			$			$			$
	For the Three Months Ended September 30,						For the Nine Months Ended September 30,
	2026			2025			2026			2025
	(in thousands, except per share data)
	£			£			£			£
Loss for the period		(1,607	)		(281	)		(8,552	)		(26,868	)

Basic and diluted weighted average number of ordinary shares		23,036,801			18,484,333			21,599,759			8,003,656
Basic and diluted loss per ordinary share		(0.00	)		(0.00	)		(0.00	)		(0.00	)

Basic loss per ordinary share is calculated by dividing the loss for the period attributable to the equity holders of the Company by the weighted average number of ordinary shares outstanding during the period.

The potential ordinary shares issued through equity settled transactions were considered to be anti-dilutive as they would have decreased the loss per ordinary share and were therefore excluded from the calculation of diluted loss per ordinary share.

7. Intangible assets

Intangible assets comprise patents with a carrying value of £2.2 million as of September 30, 2026 (as of December 31, 2025: £2.2 million).

During the nine months ended September 30, 2026, the Company acquired intangible assets with a cost of £0.2 million in relation to patents.

8. Cash and cash equivalents

	$		$
	September 30, 2026		December 31, 2025
	(in thousands)
	£		£
Cash and cash equivalents		18,349		24,251

Cash and cash equivalents comprise cash at banks with deposit maturity terms of three months or less. Cash at banks earns interest at fixed or variable rates based on the terms agreed for each account.

9. Share-based payments

The Company has six share-based payment plans for employees, directors and consultants. The share options granted will be settled in equity. If the Company determines, and at its discretion, an arrangement may be made under the 2020 Long-Term Incentive Plan to substitute the right to acquire shares with a cash alternative of equivalent value. Options granted under each of the six plans have a maximum life of 10 years.

As detailed in the table below, during the nine months ended September 30, 2026, 4,121 million share options were granted under the 2020 Long-Term Incentive Plan (nine months ended September 30, 2025: 3,478 million). Options granted under this plan will vest if the option holder remains under respective contract of employment or contract of service for the agreed vesting period. The share options granted in the period will vest over a period of up to four years.

The fair values of options granted were determined using the Black-Scholes model that takes into account factors specific to the share incentive plan such as the assumption that the options are exercised at a point in time of up to two years after vesting. This has been incorporated into the measurement by means of actuarial modelling.

	$		$		$
Grant date	Jan-14-2026		Jan-14-2026		Jan-14-2026
Vesting dates		Jan-14-2026		Jan-14-2027		Jan-14-2027
		—		—		Jan-14-2028
		—		—		Jan-14-2029
		—		—		Jan-14-2030
Volatility¹		260.56%		226.67%		193.02%
Dividend yield		0%		0%		0%
Risk-free investment rate¹		3.51%		3.53%		3.67%
Fair value of option at grant date¹		£ 0.0004		£ 0.0005		£ 0.0005
Fair value of share at grant date		£ 0.0005		£ 0.0005		£ 0.0005
Exercise price at date of grant		£ 0.0004		£ 0.0004		£ 0.0004
Lapse date		Jan-14-2036		Jan-14-2036		Jan-14-2036
Expected option life (years)¹		1.0		2.0		3.5
Number of options granted		1,951,153,811		174,109,121		1,324,308,581

	$		$
Grant date	Jan-14-2026		Jan-14-2026
Vesting dates		Jan-14-2026		Jan-14-2027
		—		Jan-14-2028
		—		Jan-14-2029
		—		Jan-14-2030
Volatility¹		226.67%		175.64%
Dividend yield		0%		0%
Risk-free investment rate¹		3.53%		3.78%
Fair value of option at grant date¹		£ 0.0005		£ 0.0005
Fair value of share at grant date		£ 0.0005		£ 0.0005
Exercise price at date of grant		£ 0.0005		£ 0.0005
Lapse date		Jan-14-2036		Jan-14-2036
Expected option life (years)¹		2.0		4.5
Number of options granted		313,694,177		87,871,006

	$		$
Grant date	Apr-15-2026		Apr-15-2026
Vesting dates		Apr-15-2026		Apr-15-2027
		—		Apr-15-2028
		—		Apr-15-2029
		—		Apr-15-2030
Volatility¹		256.68%		192.85%
Dividend yield		0%		0%
Risk-free investment rate¹		4.07%		4.16%
Fair value of option at grant date¹		£ 0.0002		£ 0.0003
Fair value of share at grant date		£ 0.0003		£ 0.0003
Exercise price at date of grant		£ 0.0004		£ 0.0004
Lapse date		Apr-15-2036		Apr-15-2036
Expected option life (years)¹		1.0		3.5
Number of options granted		135,525,518		134,170,264

^1.	Represents the average for the options granted.

For the three months ended September 30, 2026, the Company recognized £0.5 million of share-based payment expense in the statement of operations (three months ended September 30, 2025: £0.9 million). For the nine months ended September 30, 2026, the Company recognized £3.3 million of share-based payment expense in the statement of operations (nine months ended September 30, 2025: £9.1 million).

10. Share capital and share premium

	$		$
	September 30, 2026		December 31, 2025
	(in thousands)
	£		£
Share capital		14,353		14,340
Share premium		175,734		175,246

		190,087		189,586

	$		$
	Number (in thousands)
	Nominal value £0.000004		Nominal value £0.0004
*Issued share capital comprises:*
Ordinary shares		24,085,050		20,809,855
Deferred shares		3,564,222,220		15,040,466

		3,588,307,270		35,850,321

	$		$		$			$		$
	Number of ordinary shares		Number of deferred shares		Ordinary share capital			Deferred share capital		Share premium
	(in thousands)
					£			£		£
*Fully paid shares:*
Balance at December 31, 2025		20,809,855		15,040,466		8,324			6,016		175,246
Subdivision and reclassification of share capital		—		3,549,181,754		(8,241	)		8,241		—
Issue of share capital		3,275,195		—		13			—		729
Share issue expenses		—		—		—			—		(241	)

Balance at September 30, 2026		24,085,050		3,564,222,220		96			14,257		175,734

On June 8, 2026, the Company subdivided and redesignated its issued share capital as follows:

•

Each of the 15,040,465,803 deferred shares of £0.0004 each in the issued share capital of the Company was sub-divided into 100 deferred shares of £0.000004 each; and

•

Each of the 20,809,854,947 ordinary shares of £0.0004 each in the issued share capital of the Company was sub-divided into and redesignated as one ordinary share of £0.000004, having the same rights and being subject to the same restrictions as the existing ordinary shares in the capital of the Company, and 99 deferred shares of £0.000004 each.

The Company’s issued share capital after the subdivision and reclassification was comprised of 20,809,854,947 ordinary shares and 3,564,222,220,053 deferred shares of £0.000004 each. The deferred shares continue to have no economic value, dividend or voting rights.

As at September 30, 2026, the Company had 4,815,310 ADSs listed on The Nasdaq Capital Market.

11. Events after the reporting period

Subsequent to September 30, 2026 and through November 9, 2026, the Company sold and issued 326,545 ADSs, representing 1,632,725,000 ordinary shares, under the ATM program, raising gross proceeds of £0.3 million.

As at November 9, 2026, the Company had 5,141,855 ADSs listed on The Nasdaq Capital Market.