Silence Therapeutics (SLN) halves net loss and boosts cash in Q2 2026

Rhea-AI Filing Summary

Silence Therapeutics plc reported second quarter 2026 results showing continued operating losses but significantly reduced spending. For the three months ended June 30, 2026, revenue was $0 compared with $224 thousand a year earlier. The company recorded an operating loss of $13.9 million, improved from $24.0 million in the prior-year quarter, driven by lower research and development costs of $9.1 million versus $17.6 million and general and administrative expenses of $4.7 million versus $5.1 million. Net loss for the quarter was $12.3 million, compared with $27.4 million, with loss per share narrowing to $0.09 from $0.19.

For the six months ended June 30, 2026, revenue was $422 thousand versus $366 thousand and net loss was $27.2 million compared with $55.9 million, or $0.19 per share versus $0.39. On the balance sheet at June 30, 2026, cash and cash equivalents were $72.1 million and total assets were $106.4 million, with total liabilities of $67.9 million. The company continues to advance its siRNA pipeline, including divesiran for polycythemia vera and SLN312 (AZD1705) for dyslipidemia.

Positive

• Net loss significantly reduced: Q2 2026 net loss was $12.3 million versus $27.4 million a year earlier, with loss per share narrowing from $0.19 to $0.09.
• Operating expenses decreased materially: Q2 2026 research and development costs fell to $9.1 million from $17.6 million, and general and administrative expenses declined to $4.7 million from $5.1 million.
• Improved liquidity profile: Cash and cash equivalents increased to $72.1 million at June 30, 2026 from $11.3 million at December 31, 2025, supporting ongoing clinical development.

Negative

• Revenue declined to zero in the quarter: Q2 2026 revenue was $0 compared with $224 thousand in the prior-year quarter, removing a modest revenue contribution.
• Company remains loss-making with large accumulated deficit: Net loss for the first half of 2026 was $27.2 million and accumulated deficit reached $589.6 million.
• Total assets decreased: Total assets declined to $106.4 million at June 30, 2026 from $131.4 million at December 31, 2025, reflecting use of resources and lower R&D benefit receivable.

8-K Event Classification

2 items: 2.02, 9.01

2 items

Item 2.02 Results of Operations and Financial Condition Financial

Disclosure of earnings results, typically an earnings press release or preliminary financials.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Key Figures

Q2 2026 Revenue: $0 Q2 2026 Net Loss: $12,268 thousand Q2 2026 Loss per Share: $0.09 +5 more

8 metrics

Q2 2026 Revenue $0 Three months ended June 30, 2026 revenue versus $224 thousand in 2025

Q2 2026 Net Loss $12,268 thousand Three months ended June 30, 2026 net loss versus $27,354 thousand in 2025

Q2 2026 Loss per Share $0.09 Basic and diluted loss per share for the three months ended June 30, 2026

H1 2026 Net Loss $27,225 thousand Six months ended June 30, 2026 net loss versus $55,884 thousand in 2025

Cash and Cash Equivalents $72,054 thousand Balance at June 30, 2026 on condensed consolidated balance sheet

Total Assets $106,412 thousand Total assets as of June 30, 2026 versus $131,442 thousand at December 31, 2025

Total Liabilities $67,941 thousand Total liabilities as of June 30, 2026

Accumulated Deficit $589,632 thousand Accumulated deficit reported in shareholders’ equity at June 30, 2026

Key Terms

siRNA, polycythemia vera, dyslipidemia, R&D credit, +2 more

6 terms

siRNA medical

"developing novel siRNA (short interfering RNA) therapies"

Small interfering RNA (siRNA) is a short strand of genetic material that binds to and destroys the messenger RNA that carries instructions for making a specific protein, effectively switching that gene off. Investors care because siRNA is a platform for precise medicines: successful trials or approvals can create high-value drugs, while delivery challenges, manufacturing complexity, patent positions and regulatory risk can sharply affect a biotech company's prospects.

polycythemia vera medical

"siRNA silencing TMPRSS6 for polycythemia vera (PV) and other blood disorders"

A rare, long-term blood disorder in which the body makes too many red blood cells, thickening the blood and raising the risk of clots, bleeding, fatigue and other complications. Think of it like a faucet left partially open that slowly overfills a sink — the excess cells create strain and danger over time. Investors care because the condition drives demand for diagnostics, treatments and ongoing care, influences clinical trial and regulatory outcomes, and can affect revenue and costs for drugmakers, hospitals and insurers.

dyslipidemia medical

"Phase 1 siRNA silencing ANGPTL3 with a competitive profile for dyslipidemia"

Dyslipidemia is a medical condition where the levels of fats in the blood—such as cholesterol and triglycerides—are outside the healthy range, increasing the risk of artery blockages and heart disease; think of it as having oily buildup in plumbing that can slow or clog flow. It matters to investors because it drives demand for drugs, medical devices and diagnostics, influences healthcare costs and insurance payouts, and can affect the commercial and regulatory prospects of companies developing treatments.

R&D credit financial

"Benefit from R&D credit"

Contract liabilities financial

"Contract liabilities $ (55,218 )"

Contract liabilities are amounts a company has been paid in advance for goods or services it still owes to customers — think of them like gift cards or prepaid subscriptions the company must fulfill later. For investors, they show promised future work or deliveries that will turn into revenue over time, reveal cash already collected, and help assess whether a firm has a backlog of obligations that could affect future earnings and cash flow.

mRNAi GOLD™ platform medical

"leverages its mRNAi GOLD™ platform to create innovative siRNA therapies"

Earnings Snapshot

Q2 2026 Revenue: $0

Three and six months ended June 30, 2026

Q2 2026 Revenue $0 Down from $224 thousand in Q2 2025

Q2 2026 Net Loss $12,268 thousand Improved from $27,354 thousand in Q2 2025

H1 2026 Net Loss $27,225 thousand Improved from $55,884 thousand in H1 2025

Cash and Cash Equivalents $72,054 thousand Up from $11,277 thousand at December 31, 2025

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Understanding 8-K Material Events →

Available on EDGAR 08/10/2026 - 07:20 AM Accepted by SEC EDGAR 08/10/2026 - 07:20 AM Learn about SEC filing dates

FAQ

How did Silence Therapeutics (SLN) perform financially in Q2 2026?

Silence Therapeutics reported a Q2 2026 net loss of $12.3 million, improved from $27.4 million a year earlier. Revenue was $0 versus $224 thousand in Q2 2025, and loss per share narrowed to $0.09 from $0.19.

What were Silence Therapeutics (SLN) results for the first half of 2026?

For the six months ended June 30, 2026, Silence Therapeutics reported revenue of $422 thousand and a net loss of $27.2 million. In the first half of 2025, revenue was $366 thousand and net loss was $55.9 million, with loss per share improving from $0.39 to $0.19.

What is Silence Therapeutics (SLN) cash position as of June 30, 2026?

As of June 30, 2026, Silence Therapeutics held $72.1 million in cash and cash equivalents. Total assets were $106.4 million and total liabilities were $67.9 million, providing resources to support its siRNA development programs.

How did operating expenses change for Silence Therapeutics (SLN) in Q2 2026?

In Q2 2026, Silence Therapeutics reduced research and development costs to $9.1 million from $17.6 million. General and administrative expenses also declined to $4.7 million from $5.1 million, contributing to a smaller operating loss.

What are the key pipeline programs highlighted by Silence Therapeutics (SLN)?

Silence Therapeutics highlighted divesiran, a first-in-class siRNA targeting TMPRSS6 for polycythemia vera and other blood disorders, and SLN312 (AZD1705), a Phase 1 siRNA targeting ANGPTL3 for dyslipidemia, alongside pre-clinical pipeline updates.

What is the accumulated deficit of Silence Therapeutics (SLN)?

As of June 30, 2026, Silence Therapeutics reported an accumulated deficit of $589.6 million. This reflects cumulative losses incurred while advancing its siRNA-based therapeutic pipeline and ongoing research and development activities.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 10, 2026

Silence Therapeutics plc

(Exact name of Registrant as Specified in Its Charter)

England and Wales		001-39487		Not Applicable
(State or Other Jurisdiction of Incorporation)		(Commission File Number)		(IRS Employer Identification No.)

12 Hammersmith Grove
London
United Kingdom		W6 7AP
(Address of Principal Executive Offices)		(Zip Code)

Registrant’s Telephone Number, Including Area Code: +44 20 3457 6900

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
American Depositary Shares, each representing three ordinary shares, nominal value £0.05 per share		SLN		The Nasdaq Stock Market LLC
Ordinary share, nominal value £0.05 per share*		*		The Nasdaq Stock Market LLC

* Not for trading, but only in connection with the listing of the American Depositary Shares on The Nasdaq Stock Market LLC.

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition.

On August 10, 2026, Silence Therapeutics plc (the “Company”) issued a press release announcing its financial and business results for the second quarter ended June 30, 2026. A copy of the press release is furnished as Exhibit 99.1 to this report and incorporated by reference.

The information in this Item 2.02 of this Current Report on 8-K, including Exhibit 99.1 hereto, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, and shall not be deemed incorporated by reference into any of the Company’s filings under the Securities Act of 1933, as amended (the “Securities Act”), or the Exchange Act, whether made before or after the date hereof, regardless of any general incorporation language in such filing, except as shall be expressly set forth by specific references in such filing.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits.

Exhibit Number		Description
99.1		Press Release dated August 10, 2026
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

				SILENCE THERAPEUTICS PLC
Date: August 10, 2026				By:		/s/ Iain Ross
						Name: Iain Ross
						Title: Interim Principal Executive Officer and Chairman of the Board of Directors
						(Principal Executive Officer)

Exhibit 99.1

Silence Therapeutics Reports Second Quarter 2026 Financial and Business Results

10 August 2026

LONDON, Silence Therapeutics plc, (Nasdaq: SLN), a global clinical-stage company developing novel siRNA (short interfering RNA) therapies, today reported its financial and business results for the second quarter ended June 30, 2026.

Business Highlights

Divesiran: First-in-class siRNA silencing TMPRSS6 for polycythemia vera (PV) and other blood disorders

• Presented follow-up data from the Phase 1 SANRECO trial at the European Hematology Association (EHA) 2026 Annual Congress in June 2026 demonstrating durable efficacy results and potential best-in-class profile for divesiran in PV. The EHA 2026 poster is available here.

• Completed patient dosing in the Phase 2 SANRECO double-blind, placebo-controlled trial evaluating divesiran 6 mg/kg (Q6W and Q12W dosing intervals) in 48 phlebotomy-dependent PV patients in June 2026.

• American Journal of Hematology published a preclinical study authored by Silence scientists exploring the potential of TMPRSS6 silencing as a therapeutic approach for myelodysplastic syndrome (MDS) in June 2026. You can read the publication here.

SLN312 (AZD1705): Phase 1 siRNA silencing ANGPTL3 with a competitive profile for dyslipidemia

• Phase 1 results generated under the Company’s AstraZeneca collaboration were presented by AstraZeneca during a late-breaking oral presentation at the European Atherosclerosis Society (EAS) Congress in May. Results demonstrated a favorable safety profile and dose-dependent, durable reductions in ANGPTL3 protein levels as well as in atherogenic lipoproteins including LDL-C, Apo-B and non-HDL-C. The EAS 2026 presentation is available here.

Pre-clinical pipeline updates:

• Generated additional preclinical data demonstrating the effect of SLN365 (GPR146) on lipids was reproduced and not altered by co-treatment with statin or ezetimibe. The program is well positioned for a potential IND filing in 2027.

• Generated additional preclinical data for SLN098 (INHBE) in a diet induced obesity mouse model demonstrating reduced visceral fat and preservation of lean body mass. The program is well positioned for a potential IND filing in 2027.

Second Quarter 2026 Financial Results

• Cash Position: Cash and cash equivalents were $72.1 million as of June 30, 2026.

• R&D Expenses: Research and development (R&D) expenses were $9.1 million for the three months ended June 30, 2026, compared to $17.6 million for the three months ended June 30, 2025. The $8.4 million decrease is mainly due to the zerlasiran Phase 3 readiness being completed in 2025 as well as reduced personnel costs.

• G&A Expenses: General and administrative (G&A) expenses were $4.7 million for the three months ended June 30, 2026, compared to $5.1 million for the three months ended June 30, 2025.

• Net Loss: Net loss was $12.3 million, or $0.09 basic and diluted net loss per share for the three months ended June 30, 2026, compared to a net loss of $27.4 million, or $0.19 basic and diluted net loss per share for the three months ended June 30, 2025.

• Total outstanding shares were 141,739,180 ordinary shares (including shares in the form of American Depositary Shares) as of June 30, 2026.

About Silence Therapeutics

Silence Therapeutics is a global clinical-stage biotechnology company committed to transforming people’s lives by silencing diseases through precision engineered medicines created with proprietary siRNA (short interfering RNA) technology. Silence leverages its mRNAi GOLD^™ platform to create innovative siRNA therapies designed to precisely target and silence genes that cause disease. The Company is advancing a growing pipeline of siRNA product candidates targeting areas of high unmet need across rare and common diseases where treatments are limited or inadequate. For more information, please visit https://www.silence-therapeutics.com/.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, you can identify forward-looking statements by terminology such as “aim,” “anticipate,” “assume,” “believe,” “contemplate,” “continue,” “could,” “design,” “due,” “estimate,” “expect,” “goal,” “intend,” “may,” “objective,” “plan,” “positioned,” “potential,” “predict,” “seek,” “should,” “target,” “will,” “would” and other similar expressions that are predictions of or indicate future events and future trends, or the negative of these terms or other comparable terminology. All statements other than statements of historical facts contained in this press release are forward-looking statements. These forward-looking statements include, but are not limited to, statements about: the Company’s business strategy and plans, including the Company’s clinical development activities and timelines; the potential therapeutic benefits of the Company’s product candidates; and the anticipated timing of initial topline and future results from the SANRECO Phase 2 trial. Forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties that could cause actual results and events to differ materially from those anticipated, including, but not limited to, risks and uncertainties related to: the company’s history of net operating losses; the company’s ability to obtain necessary capital to fund its clinical programs; the early stages of clinical development of the company’s product candidates; the Company’s ability to obtain regulatory approval of and successfully commercialize its product candidates either on its own or with potential partners; any undesirable side effects or other properties of the company’s product candidates; the Company’s reliance on third-party suppliers and manufacturers; the outcomes of any future collaboration agreements; and the Company’s ability to adequately maintain intellectual property rights for its product candidates. These and other risks are described in greater detail under the section titled “Risk Factors” contained in the Company’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q and the Company’s other filings with the SEC. Any forward-looking statements that the Company makes in this press release are made pursuant to the Private Securities Litigation Reform Act of 1995, as amended, and speak only as of the date of this press release. Except as required by law, the Company undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.

Inquiries:

Silence Therapeutics plc

Gem Hopkins, VP, Head of IR and Corporate Communications

Tel: +1 (646) 637-3208

ir@silence-therapeutics.com

Silence Therapeutics plc

Condensed Consolidated Statements of Operations

(Unaudited, in thousands, except share and per share data)

		Three months ended June 30,								Six months ended June 30,
		2026				2025				2026				2025
Revenue		$	—			$	224			$	422			$	366
Cost of sales			—				(85	)			(11	)			(139	)
Gross profit			—				139				411				227
Research and development costs			(9,148	)			(17,647	)			(18,270	)			(38,460	)
General and administrative expenses			(4,717	)			(5,131	)			(11,743	)			(12,815	)
Restructuring charges			—				(1,324	)			—				(1,324	)
Operating loss			(13,865	)			(23,963	)			(29,602	)			(52,372	)
Foreign currency gain/(loss), net			151				(6,613	)			(331	)			(10,382	)
Other income, net			669				861				1,240				1,830
Benefit from R&D credit			778				2,371				1,469				5,050
Loss before income tax expense			(12,267	)			(27,344	)			(27,224	)			(55,874	)
Income tax expense			(1	)			(10	)			(1	)			(10	)
Net Loss		$	(12,268	)		$	(27,354	)		$	(27,225	)		$	(55,884	)
Loss per share (basic and diluted)		$	(0.09	)		$	(0.19	)		$	(0.19	)		$	(0.39	)
Weighted average shares outstanding (basic and diluted)			141,709,762				141,696,047				141,706,190				141,687,438

Silence Therapeutics plc

Condensed Consolidated Balance Sheets

(Unaudited, in thousands, except share and per share data)

		June 30, 2026				December 31, 2025
Current assets
Cash and cash equivalents		$	72,054			$	11,277
Short-term investments			—				73,837
R&D benefit receivable			9,292				22,007
Other current assets			12,935				11,537
Total current assets			94,281				118,658
Property, plant and equipment			1,325				1,581
Operating lease right-of-use assets			117				167
Goodwill			10,325				10,621
Other intangible assets			237				288
Other long-term assets			127				127
Total assets		$	106,412			$	131,442
Current liabilities
Contract liabilities		$	—			$	(168	)
Trade and other payables			(12,611	)			(13,356	)
Operating lease liabilities, current			(103	)			(89	)
Total current liabilities			(12,714	)			(13,613	)
Contract liabilities			(55,218	)			(55,454	)
Operating lease liabilities			(9	)			(71	)
Total liabilities		$	(67,941	)		$	(69,138	)
Commitments and contingencies
Shareholders’ equity
Ordinary shares - par value £0.05 per share; 141,739,180 shares issued at June 30, 2026 (December 31, 2025: 141,701,848)			(10,292	)			(10,290	)
Additional paid-in capital			(621,152	)			(617,562	)
Accumulated deficit			589,632				562,572
Accumulated other comprehensive loss			3,341				2,976
Total shareholders’ equity			(38,471	)			(62,304	)
Total liabilities and shareholders’ equity		$	(106,412	)		$	(131,442	)

Filing Exhibits & Attachments

5 documents

Press Releases

• EX-99.1 EX-99.1 66.2 KB

Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA 3.5 KB
• EX-101 XBRL TAXONOMY EXTENSION DEFINITION LINKBASE 13.8 KB
• EX-101 XBRL TAXONOMY EXTENSION LABEL LINKBASE 22.4 KB
• EX-101 XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE 14.6 KB