NuCana PLC (ADR) (NASDAQ:NCNA) announced recently that it has appointed Adam George as the new member of the Board. Mr. George was previously working as the UK Managing Director at GW Pharmaceuticals since 2012 to 2017 but has served the company from 2007 in various capacities. He will currently hold the position of the Chairman at NuCana’s Audit Committee. Furthermore, the company has also announced its financial results for the year ended December 31, 2017 and presented its latest clinical program on the ProTide ™ therapeutics.
The financial results highlighted the net proceeds that accrued from the company’s recent public offering concluded in October last year. However, though 2017 was the greatest year for rapid expansions, NuCana reported a net loss of over £23.1 million for the year ended 2017 compared to the previous year of the same period.
But with its pipeline proprietary ProTides, the company expects to improve its financial performance throughout the year 2018 and beyond. For instance, NuCana anticipates reporting its interim data on the PRO-105 clinical study of the Acelarin in treatment of patients with platinum-resistant ovarian cancer and other selective solid tumors form other studies.
According to Hugh Griffith the Founder and CEO of NuCana, Mr. George brings on board essential amount of experience and expertise from working both at publicly and privately traded companies in the pharmaceutical industry. The newly appointed chairman is therefore expected to enable NuCana to develop and commercialize the newest therapeutics. Mr. George is a certified accountant and holds a bachelors degree in Biology from Bristol University.
NuCana focuses on the development of improved treatment for cancer patients using its latest ProTide ™ technology that transforms various chemotherapy agents into more efficient and safest medicines. The current traditional chemotherapy agents for treatment of solid tumors have the efficacy that is generally hampered with the cancer cell resistance mechanisms and is often imperfectly tolerated.