Silexion Therapeutics Reports Q1 2025 Financial Results with Increased Net Loss and Improved Cash Position

Silexion Therapeutics Corp, which recently completed a business combination with Moringa Acquisition Corp, reported its financial results for the first quarter of 2025, revealing a net loss of $1.735 million, compared to a loss of $1.423 million in the same period last year. The company’s operating expenses increased to $1.650 million from $1.250 million year-over-year, driven primarily by higher general and administrative costs, which rose to $1.060 million from $289,000. Research and development expenses decreased to $590,000 from $961,000, reflecting a strategic shift in resource allocation.

The company’s cash and cash equivalents significantly improved, reaching $6.152 million as of March 31, 2025, up from $1.187 million at the end of 2024. This increase is attributed to successful financing activities, including a public offering that generated approximately $5 million in gross proceeds. The total assets of Silexion rose to $8.308 million, compared to $2.863 million at the end of the previous fiscal year, indicating a strengthened financial position following the business combination.

In terms of operational developments, Silexion has not yet generated revenue from product sales, as it remains in the development stage. The company’s employee headcount has not been disclosed in the filing, but it continues to focus on advancing its clinical trials and research initiatives. The business combination has positioned Silexion as a publicly traded entity on the Nasdaq Global Market, with its ordinary shares and warrants now actively traded under the symbols “SLXN” and “SLXNW,” respectively.

The filing also highlights the company’s ongoing challenges, including the need for substantial additional funding to support its research and development activities. Management has expressed concerns regarding its ability to continue as a going concern for at least the next 12 months, given the current cash flow situation and the necessity for further capital raises. The company is exploring various financing alternatives, including an equity line of credit established under the ELOC Agreement.

Looking ahead, Silexion anticipates continued losses and negative cash flows from operations as it progresses through its clinical development phases. The company remains focused on its strategic objectives, including potential partnerships and the advancement of its product candidates, while navigating the complexities of the regulatory environment. The management's outlook emphasizes the importance of securing additional funding to sustain operations and achieve its long-term goals.