Silence Therapeutics plc reported third‑quarter 2025 results that included $159,000 in revenue, a net loss of $20.958 million, and a loss per share of $0.15. Operating expenses totaled $26.244 million, driven by $20.544 million in research and development and $5.795 million in general and administrative costs, reflecting the company’s continued investment in its clinical pipeline.
Cash and cash equivalents stood at $102.2 million as of September 30, 2025, a figure that corrects the earlier $82.031 million reported. The updated balance gives the company a runway through 2028 under current spending assumptions, providing a cushion for ongoing clinical development and potential partnership activities.
The company highlighted the full enrollment of its SANRECO Phase 2 study of divesiran for polycythemia vera. The study, which received FDA Fast‑Track and Orphan Drug designations, is expected to deliver topline data in the third quarter of 2026. This milestone positions the program as a near‑term catalyst for the company’s mRNAi GOLD platform.
Revenue fell compared to the prior quarter and the same quarter last year, largely because fewer milestone payments were recognized from the AstraZeneca collaboration. The decline underscores the company’s reliance on partnership milestones for revenue, a common feature of early‑stage biopharma. Despite the revenue dip, operating expenses rose in line with the company’s strategic investment in R&D, keeping the operating loss in the mid‑$20 million range.
CEO Craig Tooman emphasized that full enrollment of the divesiran study “represents a significant step forward for our pipeline and reinforces confidence in the mRNAi GOLD platform.” CFO Rhonda Hellums noted that the strong cash position “provides the flexibility to pursue additional candidates and to navigate the inevitable ups and downs of clinical development.”
The results reinforce Silence’s focus on advancing high‑potential mRNA therapeutics while maintaining a disciplined cost structure. The company’s cash runway, coupled with the upcoming data from divesiran, positions it to capitalize on future clinical milestones and potential partnership opportunities, supporting its long‑term value creation strategy.
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