Silence Therapeutics plc reported its financial results for the second quarter and first half of 2026, revealing a significant decline in revenue and continued operational losses. For the three months ended June 30, 2026, the company recorded no revenue, a decrease from $224,000 in the same period of 2025. For the six months ending June 30, 2026, revenue remained flat at $422,000 compared to $366,000 in the prior year. The lack of revenue in the latest quarter was attributed to reduced activity associated with the company's collaboration with AstraZeneca.
The company's operating loss for the second quarter was $13.9 million, a notable improvement from a loss of $24.0 million in the same quarter of 2025. For the first half of 2026, the operating loss was $29.6 million, down from $52.4 million in the same period last year. This reduction in losses was primarily driven by a decrease in research and development costs, which fell to $9.1 million in the second quarter from $17.6 million in 2025, and to $18.3 million for the first half from $38.5 million in the previous year. The company attributed these changes to lower contracted development costs and a reduction in personnel expenses due to headcount reductions.
In terms of strategic developments, Silence Therapeutics has made progress in its clinical pipeline, particularly with its lead product candidate, divesiran, which is in Phase 2 development for polycythemia vera. The company completed patient dosing in the Phase 2 SANRECO trial in June 2026, with topline results expected in August 2026. Additionally, the company is seeking a third-party partner for its Phase 1 ready candidate, SLN548, and is evaluating further development plans for SLN312 after AstraZeneca decided not to pursue its development beyond Phase 1.
As of June 30, 2026, Silence Therapeutics reported cash and cash equivalents of $72.1 million, a significant increase from $11.3 million at the end of 2025. This increase was primarily due to cash inflows from the redemption of U.S. treasury bills. The company anticipates that its current cash reserves will be sufficient to fund operations into 2028, although it will need to secure additional funding to support ongoing research and development activities. The company continues to explore various financing options, including public or private financings and collaboration agreements, to ensure it can meet its future operational needs.
About SILENCE THERAPEUTICS PLC
Silence Therapeutics plc is a biotechnology company specializing in RNA interference (RNAi) therapeutics, focusing on developing siRNA molecules to target diseases with significant unmet medical needs. Its key products include divesiran for polycythemia vera and zerlasiran for cardiovascular disease linked to elevated lipoprotein(a). With a robust pipeline and proprietary mRNAi GOLD platform, Silence aims to address critical health challenges while exploring partnerships for further development and commercialization.
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