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SLN

Silence Therapeutics plc

SLN

Silence Therapeutics plc • NASDAQ
$6.74 ▼ -1.46% (-0.10)
Market Cap $318.36 M
52w High $8.88
52w Low $1.97
Dividend Yield 0%
P/E -4.99
Volume 82.73K
Outstanding Shares 47.23M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $159K ▼ $26.339M ▲ $-20.958M ▲ -13.181K% ▼ $-1.32 ▲ $-20.801M ▲
Q2-2025 $224K ▲ $24.102M ▼ $-27.354M ▲ -12.212K% ▲ $-1.74 ▲ $-22.491M ▲
Q1-2025 $142K ▼ $28.497M ▲ $-28.53M ▼ -20.092K% ▼ $-1.8 ▼ $-28.271M ▼
Q4-2024 $24.328M ▲ $25.8M ▲ $14.174M ▲ 58.263% ▲ $0.9 ▲ $7.193M ▲
Q3-2024 $1.142M $20.905M $-27.012M -2.365K% $-1.71 $-21.441M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $102.192M ▼ $146.79M ▼ $72.727M ▲ $74.063M ▼
Q2-2025 $114.155M ▼ $165.233M ▼ $71.078M ▼ $94.155M ▲
Q1-2025 $136.534M ▼ $185.298M ▼ $298.041M ▲ $-112.743M ▼
Q4-2024 $147.334M ▲ $202.635M ▲ $68.612M ▼ $134.023M ▲
Q3-2024 $128.99M $169.383M $74.868M $94.515M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-20.958M ▲ $-10.891M ▲ $51.289M ▲ $0 ▼ $40.292M ▲ $-10.894M ▲
Q2-2025 $-27.354M ▼ $-21.784M ▼ $-1.562M ▲ $1K ▼ $-23.147M ▲ $-21.832M ▼
Q1-2025 $-22.084M ▼ $-12.309M ▲ $-44.381M ▼ $14K ▼ $-56.444M ▼ $-12.313M ▲
Q4-2024 $22.891M ▲ $-24.864M ▼ $68.129M ▲ $19.878M ▲ $59.377M ▲ $-24.92M ▼
Q3-2024 $-41.885M $-19.656M $-28.841M $5.968M $-47.529M $-19.705M

Revenue by Products

Product Q1-2025Q2-2025
Research Collaboration Income
Research Collaboration Income
 $0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Silence Therapeutics looks like a typical clinical‑stage biotech on the income side: very small revenue and ongoing, predictable losses. Most income is likely from research collaborations and milestone payments rather than product sales. Revenue has been creeping up but remains modest, while operating and net losses have stayed fairly steady over the last several years. The loss per share has narrowed somewhat, which suggests cost discipline, capital raises, or both, but the company is clearly still in an investment phase, not a profit phase. The income statement tells a clear story: the business is built around heavy research and development spending today in hopes of future product and licensing income. Financial performance will be driven mainly by clinical milestones, partnership deals, and, much further out, any approved drugs rather than near‑term cost cutting.

Balance Sheet

Balance Sheet The balance sheet is relatively clean and simple for a biotech at this stage. Total assets have grown, with cash now making up the bulk of the asset base, and there is no financial debt reported. That reduces balance‑sheet risk and interest burden, which is a positive. Shareholders’ equity has increased sharply, which almost certainly reflects new capital raised and possibly partnership inflows. The company is funding itself through equity and collaborations rather than borrowing, which is typical for early‑stage biotech but also means ongoing dilution is a structural feature. Overall, the balance sheet shows a cash‑rich, debt‑free platform company that has recently strengthened its financial foundation, but remains reliant on external capital and future deals to support its long development path.

Cash Flow

Cash Flow Cash flow reflects the development stage clearly. The company consistently uses cash in its operations, mainly to fund R&D, clinical trials, and overhead. There was a brief period where operating cash flow turned slightly positive, but the most recent period shows a larger cash burn again. Capital expenditure is minimal, so free cash flow is driven almost entirely by operating cash use, not by big investments in plants or equipment. That means changes in burn rate will mostly come from R&D pacing, headcount, and partnership funding, rather than infrastructure. Management and external commentary suggest the current cash runway extends several years out, but that is always sensitive to trial design, new studies, and whether the company secures additional partnerships or capital. Cash discipline and deal timing will be key to avoiding pressure later in the decade.

Competitive Edge

Competitive Edge Silence Therapeutics operates in a highly specialized and competitive area of biotechnology: RNA interference (RNAi) therapeutics, especially targeting the liver. It competes with larger and better‑funded players, but it has carved out a focused niche. Its main strengths are a proprietary platform for liver‑targeted gene silencing, a solid patent estate, and visible validation through partnerships with big pharma, particularly AstraZeneca. These collaborations both endorse the science and help fund development, while the company still retains important wholly owned programs. On the other hand, it is much smaller than key rivals and has fewer resources to absorb clinical setbacks, move rapidly into large global trials, or commercialize on its own. The markets it is targeting—such as cardiovascular risk and rare blood disorders—are attracting intense interest from others as well. Competitive position therefore hinges on execution, data quality, and the ability to secure strong partners for later stages.

Innovation and R&D

Innovation and R&D The company’s core asset is its mRNAi GOLD platform, which is designed to precisely and durably silence specific genes in the liver with infrequent dosing. This is a differentiated technology approach within RNAi, emphasizing targeted delivery and long‑lasting effect. Its pipeline is relatively concentrated but meaningful. Zerlasiran aims to address elevated Lipoprotein(a), a major unmet need in cardiovascular disease with no approved targeted therapies yet. Early and mid‑stage data have been strong, but moving into large outcomes trials will require substantial resources and likely a partner. Divesiran targets a rare blood cancer by modulating iron metabolism and has shown promising early results, along with fast‑track and orphan designations that can speed development and enhance the potential value of the asset. Additional early‑stage programs, including complement‑related diseases and multiple partnered targets with AstraZeneca, suggest the platform can be applied more broadly. R&D is clearly the center of gravity: most of the company’s spending, value, and risk sit in the lab and the clinic. Future innovation may come from expanding beyond liver delivery, which, if successful, would open up a wide range of new diseases but also add technical and execution risk.

Summary

Silence Therapeutics is a classic clinical‑stage biotech: strong on science and partnerships, weak on current earnings. The income statement shows small but growing collaboration revenue against steady, sizeable losses, which is normal for a company at this stage of development. Its balance sheet and cash position have been reinforced, with no debt and a healthy cash cushion providing several years of runway under current assumptions, though this depends on how quickly spending ramps and whether new deals are signed. Cash flow is negative and will remain so until major milestones or approvals are reached. Competitively, the company has a credible position in liver‑directed RNAi, backed by intellectual property and big‑pharma validation, but it operates in a crowded field with much larger rivals and faces the usual binary risks of drug development. Its value is concentrated in a small number of high‑impact programs and a proprietary platform that could support multiple future products. Overall, this is a high‑risk, high‑potential profile: a technology‑driven biotech with solid partnerships and a focused pipeline, but with no approved products yet, ongoing cash burn, and substantial dependence on future clinical success and strategic collaborations.

NEWS

November 6, 2025 · 7:30 AM UTC

Silence Therapeutics Reports Third Quarter 2025 Financial Results and Recent Business Highlights

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October 23, 2025 · 7:30 AM UTC

Silence Therapeutics Completes Enrollment in SANRECO Phase 2 Study of Divesiran for Polycythemia Vera (PV)

Read more