Silence Therapeutics Plc American Depository Share - SLN STOCK NEWS

Silence Therapeutics (Nasdaq: SLN) reported its Q2 2024 financial results and business highlights. Key points include:

• Positive clinical results for zerlasiran in cardiovascular disease and divesiran in hematological diseases
• $120 million equity raise and collaboration milestones strengthening financial position
• Cash position of £149.6 million ($189.2 million) as of June 30, 2024
• Collaboration revenue of £12.9 million for H1 2024
• Net loss of £17.4 million for H1 2024

The company is advancing its siRNA technology and evaluating partnering opportunities for its mRNAi GOLD™ platform and zerlasiran program.

Silence Therapeutics announced positive results from its Phase 1 SANRECO study of divesiran (SLN124) in polycythemia vera (PV) patients.

The 34-week study evaluated divesiran in 24 patients, with doses administered subcutaneously every 6 weeks for four doses, followed by a 16-week follow-up.

All 8 well-controlled patients (HCT ≤ 45%) required no phlebotomies, while only 2 out of 8 patients with HCT > 45% required one phlebotomy.

Divesiran was well tolerated with no major safety issues. The treatment showed sustained reductions in hematocrit and positive effects on iron metabolism and hepcidin levels.

The company plans to advance divesiran to Phase 2 by the end of the year.

Silence Therapeutics (Nasdaq: SLN) has secured a $2 million payment from Hansoh Pharmaceutical following the achievement of a research milestone in their collaboration. This partnership, initiated in October 2021, focuses on developing siRNAs using Silence's mRNAi GOLD™ platform. Hansoh has already paid Silence $16 million upfront, with potential milestones totaling up to $1.3 billion. Silence holds exclusive rights to two targets globally, except in China, while Hansoh has options in the Greater China region. This latest payment marks the fourth research milestone reached under this agreement.

Silence Therapeutics (Nasdaq: SLN) announced positive topline 48-week data from its ALPACAR-360 Phase 2 study of zerlasiran, a siRNA targeting elevated lipoprotein(a), a key genetic risk factor for cardiovascular disease. The study included 178 subjects with baseline Lp(a) levels of 125 nmol/L or higher, administered doses of 300 mg and 450 mg subcutaneously. Results showed a 90% or greater median reduction in Lp(a) from baseline compared to placebo. Zerlasiran was well tolerated with no serious safety concerns. The company plans to advance to Phase 3 trials.

Silence Therapeutics (Nasdaq: SLN) announced its participation in the Jefferies Global Healthcare Conference on June 6th at 2:30 p.m. ET. The company, known for its innovative biotechnology solutions aimed at silencing diseases through precision-engineered medicines, will provide a presentation accessible via live webcast on the company's investor section. An archived replay will also be available after the event.

Silence Therapeutics (NASDAQ: SLN) disclosed its Q1 2024 financials and recent advancements. The firm reported a cash position of £152.8 million ($192.8 million), up from £62.9 million ($77.8 million) a year prior. Collaboration revenue rose by £1.0 million to £12.4 million, largely due to a £9.2 million milestone payment from AstraZeneca. R&D expenses decreased by £3.4 million to £9.2 million, and G&A expenses dropped by £1.3 million to £5.2 million. This resulted in a net loss of £1.9 million, a significant improvement from the £10.2 million loss last year.

Key pipeline updates included positive 36-week data from the phase 2 ALPACAR-360 study of zerlasiran for cardiovascular disease, with primary endpoints met and no new safety concerns. Additionally, promising phase 1 data for divesiran in polycythemia vera (PV) patients were reported. Collaboratively, Silence achieved a $10 million milestone from AstraZeneca after initiating a phase 1 trial.

Silence Therapeutics plc, Nasdaq: SLN, will participate in a fireside chat at the H.C. Wainwright 2nd Annual BioConnect Investor Conference. The Company focuses on precision engineered medicines to silence diseases, aiming to transform people's lives. The event will take place on May 20th, 2:30 p.m. ET, with a live webcast accessible on the Silence website and an archived replay available post-conference.

Silence Therapeutics plc announced the retirement of Alistair Gray, an independent member of the Board of Directors since 2015, effective May 1, 2024. Alistair Gray made significant contributions during his tenure, marking a period of growth and transformation for the company under the leadership of Iain Ross and Craig Tooman. The Company transitioned into a global player focusing on RNA interference, developed a pipeline of innovative product candidates, and secured big pharma partnerships.