Why NuCana Shares Are Nosediving

NuCana PLC NCNA shares are trading lower by 36.19% to $0.79 Monday morning after the European Patent Office said NuCana's 190 patent is not valid.

What Else?

NuCana says neither of these decisions affect the patent protection on any of the company's anti-cancer ProTides, which are covered by separate patents that were not involved in this litigation.

Hugh S. Griffith, NuCana's Founder and CEO, said: "While we are disappointed by these decisions, they do not impact our core business of developing innovative new medicines for the treatment of patients with cancer. NuCana is well-capitalized, all of our clinical programs remain on track and we expect multiple data announcements in 2023."

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According to data from Benzinga Pro, NCNA has a 52-week high of $2.24 and a 52-week low of $0.52.