Silence Therapeutics Highlights Recent Business Achievements and Reports Fourth Quarter and Full Year 2025 Financial Results
LONDON--( BUSINESS WIRE)--Silence Therapeutics plc, Nasdaq: SLN, a global clinical-stage company developing novel siRNA (short interfering RNA) therapies, today reported financial results for the fourth quarter and full year ended December 31, 2025, and provided an update on recent business achievements.
“The past year was focused on clinical execution, demonstrated by the expedited enrollment in the Phase 2 SANRECO trial of divesiran in PV which is on-track for topline results in third quarter of 2026,” said Iain Ross, Chairman and Interim Principal Executive Officer at Silence. “Divesiran is a first-in-class siRNA product candidate in PV with broad potential in blood disorders and this program is our highest priority. We believe we are well positioned today with excellent optionality and multiple near-term value drivers ahead.”
Business Highlights
Divesiran: First-in-class siRNA for PV
Zerlasiran: Phase 3 ready program for cardiovascular disease due to high Lp(a)
SLN312: Phase 1 siRNA with a competitive profile for dyslipidemia
Discovery Pipeline
Anticipated 2026 Milestones
Corporate Updates
Full Year 2025 Financial Results
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; the anticipated timing of initial topline and future results from the SANRECO Phase 2 trial; the Company’s ability to deliver near- or long-term value; the Company’s ability to advance additional candidates from its mRNAi GOLD™ platform; the Company’s ability to advance extra-hepatic cell targeting or identify extra-hepatic product candidates; and the Company’s ability to identify and engage potential third-party partners for one or more of its product candidates, including the Company’s preclinical and Phase 3 ready assets. 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.
SILENCE THERAPEUTICS plc
Consolidated Statements of income (loss)
(in thousands, except for loss per share and share data)
Year ended December 31,
Note
2025
2024
Revenue
3
$
559
$
43,258
Cost of sales
(215
)
(11,810
)
Gross profit
344
31,448
Research and development costs
(67,753
)
(67,883
)
General and administrative expenses
(22,344
)
(26,884
)
Restructuring charges
6
(1,324
)
-
Operating loss
(91,077
)
(63,319
)
Foreign currency (loss)/gain, net
(8,467
)
646
Other income, net
7
3,480
4,472
Benefit from R&D credit
7,463
13,737
Loss before income tax expense
(88,601
)
(44,464
)
Income tax expense
18
(11
)
(845
)
Net Loss
$
(88,612
)
$
(45,309
)
Loss per share (basic and diluted)
8
$
(0.63
)
$
(0.33
)
Weighted average shares outstanding
(basic and diluted)
141,694,702
138,752,224
The accompanying notes form an integral part of these consolidated financial statements.
SILENCE THERAPEUTICS plc
Consolidated balance sheets
(in thousands, except share data)
Year ended December 31,
Note
2025
2024
Current assets
Cash and cash equivalents
12
$
11,277
$
121,330
Short-term investments
12
73,837
26,004
R&D benefit receivable
22,007
24,396
Other current assets
13
11,537
14,664
Trade receivables
14
-
972
Total current assets
118,658
187,366
Property, plant and equipment, net
9
1,581
1,818
Operating lease right-of-use assets
16
167
157
Goodwill
10
10,621
9,392
Intangible assets
11
288
312
Other long-term assets
13
127
3,590
Total assets
$
131,442
$
202,635
Current liabilities
Contract liabilities
17
$
(168
)
$
(306
)
Trade and other payables
15
(13,356
)
(16,399
)
Operating lease liabilities, current
16
(89
)
(117
)
Total current liabilities
(13,613
)
(16,822
)
Contract liabilities
17
(55,454
)
(51,790
)
Operating lease liabilities, long-term
16
(71
)
-
Total liabilities
$
(69,138
)
$
(68,612
)
Commitments and contingencies (Note 21)
Shareholders’ equity
Ordinary shares - par value £0.05 per share; 141,701,848 shares issued at December 31, 2025 (2024: 141,674,074)
19
(10,290
)
(10,288
)
Additional paid-in capital
(617,562
)
(609,560
)
Accumulated deficit
562,572
474,044
Accumulated other comprehensive loss
2,976
11,781
Total shareholders' equity
(62,304
)
(134,023
)
Total liabilities and shareholders' equity
$
(131,442
)
$
(202,635
)
The accompanying notes form an integral part of these consolidated financial statements.