Monitor the upcoming topline results from the Phase 2 SANRECO trial in Q3 2026, which could be a major value driver. The company's ability to secure partnerships for its Phase 3-ready zerlasiran program and advance its preclinical pipeline will be key indicators of future success. The cash position appears sufficient to fund operations through the near-term catalysts.
Price Chart
Executive Summary
Silence Therapeutics reported a significant year-over-year decline in revenue and increased net loss, driven by the conclusion of prior collaborations. However, the company highlighted positive clinical progress, including accelerated topline results for its divesiran trial in polycythemia vera expected in Q3 2026, and promising preclinical data for new siRNA programs. The cash position of $85.1 million provides runway for ongoing development.
Key Financial Metrics
Key Facts
- Revenue dropped 98.7% YoY to $0.6 million due to conclusion of Hansoh collaboration and reduced AstraZeneca revenue
- Net loss increased 95.5% YoY to $88.6 million
- Cash position of $85.1 million as of December 31, 2025
- Topline results for Phase 2 SANRECO trial of divesiran in polycythemia vera expected in Q3 2026 (accelerated from H2 2026)
- AstraZeneca will not pursue further development of SLN312 beyond Phase 1, with rights reverting to Silence
- Generated promising preclinical data for SLN365 (GPR146) and SLN098 (INHBE) programs
Financial Impact
Revenue decreased by $42.7 million year-over-year, while net loss increased by $43.3 million
Risk Factors
- High cash burn rate with increasing net losses
- Dependence on successful clinical trial outcomes
- Need to secure partnerships or additional funding for later-stage development
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-092578 |
| Document: sln-20260305.htm | 0001193125-26-092578 |
| Document: sln-ex99_2.htm | 0001193125-26-092578 |
| Document: 0001193125-26-092578-index-headers.html | 0001193125-26-092578 |
| Document: 0001193125-26-092578-index.html | 0001193125-26-092578 |
| Document: 0001193125-26-092578.txt | 0001193125-26-092578 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 10, 2026 7w ago | 424B5 | $14.72 $13.55 | ▲ +7.95% | ▲ +6.89% | $10.64 (+27.72%) |
Aug 10, 2026 7w ago | 8-K | $15.43 $13.69 | ▼ −11.28% | ▼ −10.36% | $10.64 (−31.04%) |
Aug 10, 2026 7w ago | 8-K | $15.43 $13.69 | ▼ −11.28% | ▼ −10.36% | $10.64 (−31.04%) |
Jun 23, 2026 14w ago | 8-K | $9.16 $11.83 | ▲ +29.15% | ▲ +27.22% | $10.64 (+16.16%) |
Mar 5, 2026 30w ago | 8-K | $5.50 $5.94 | ▲ +8.00% | ▲ +11.79% | $10.64 (+93.45%) |
US Market Status
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