SLN 8-K
Silence Therapeutics plc (SLN)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
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* Not for trading, but only in connection with the listing of the American Depositary Shares on The Nasdaq Stock Market LLC.
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Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02 Results of Operations and Financial Condition.
On November 6, 2025, Silence Therapeutics plc (the “Company”) issued a press release announcing its financial results for the third quarter ended September 30, 2025, as well as recent business highlights. A copy of the press release is furnished as Exhibit 99.1 to this report and incorporated by reference.
The information in this Item 2.02 of this Current Report on 8-K, including Exhibits 99.1 hereto, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, and shall not be deemed incorporated by reference into any of the Company’s filings under the Securities Act of 1933, as amended (the “Securities Act”), or the Exchange Act, whether made before or after the date hereof, regardless of any general incorporation language in such filing, except as shall be expressly set forth by specific references in such filing.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits.
Exhibit Number |
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Description |
99.1 |
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104 |
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Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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SILENCE THERAPEUTICS PLC |
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Date: November 6, 2025 |
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By: |
/s/ Craig Tooman |
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Name: Craig Tooman |
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Title: President and Chief Executive Officer (Principal Executive Officer) |
Exhibit 99.1
Silence Therapeutics Reports Third Quarter 2025 Financial Results and Recent Business Highlights
SANRECO Phase 2 study of divesiran in polycythemia vera (PV) fully enrolled; topline results anticipated in 3Q 2026
Strong balance sheet and cash runway into 2028
6 November 2025
LONDON, Silence Therapeutics plc, Nasdaq: SLN (“Silence” or “the Company”), a global clinical-stage company developing novel siRNA (short interfering RNA) therapies, today reported its financial results for the third quarter ended September 30, 2025, and reviewed recent business highlights.
“Silence continues to focus on operational execution, highlighted by the rapid achievement of full enrollment in our ongoing SANRECO Phase 2 study of divesiran, our first-in-class siRNA for PV,” said Craig Tooman, President and Chief Executive Officer at Silence. “We believe the positive momentum in our divesiran PV program, combined with exciting advancements in our early-stage pipeline, positions us well for both near and long-term value creation. We are looking forward to a strong finish to the year and meaningful pipeline catalysts ahead in 2026.”
Rhonda Hellums, Silence’s Chief Financial Officer, said, “With a strong cash position providing a runway into 2028, we remain focused on executing to deliver topline Phase 2 data in PV next year, bringing forward additional candidates from our mRNAi GOLD™ platform where we see promising opportunities and advancing our extra-hepatic work.”
Recent Highlights
Divesiran for Polycythemia Vera (PV)
Third Quarter 2025 Financial Highlights
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 siRNAs designed to precisely target and silence disease-associated genes in the liver, which represents a substantial opportunity. Silence focuses on areas of high unmet medical need with programs advancing in cardiovascular disease, hematology and rare diseases. 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 bring forward additional candidates from its mRNAi GOLD™ platform; the Company’s expected year-end results and performance; and the Company’s anticipated extended cash runway. 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; 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.
Inquiries:
Silence Therapeutics plc Gem Hopkins, VP, IR and Corporate Communications
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Tel: +1 (646) 637-3208
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Silence Therapeutics plc
Condensed Consolidated Balance Sheets
(Unaudited, in thousands, except share and per share data)
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September 30, 2025 |
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December 31, 2024 |
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Current assets |
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Cash and cash equivalents |
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$ |
82,031 |
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$ |
121,330 |
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Short-term investments |
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20,161 |
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26,004 |
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R&D benefit receivable |
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22,152 |
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24,396 |
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Other current assets |
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9,260 |
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14,664 |
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Trade receivables |
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28 |
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972 |
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Total current assets |
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133,632 |
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187,366 |
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Property, plant and equipment |
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1,655 |
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1,818 |
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Operating lease right-of-use assets |
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192 |
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157 |
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Goodwill |
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10,612 |
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9,392 |
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Other intangible assets |
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300 |
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312 |
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Other long-term assets |
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399 |
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3,590 |
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Total assets |
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$ |
146,790 |
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$ |
202,635 |
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Current liabilities |
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Contract liabilities |
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$ |
(301 |
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$ |
(306 |
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Trade and other payables |
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(16,993 |
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(16,399 |
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Operating lease liabilities, current |
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(85 |
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(117 |
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Total current liabilities |
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(17,379 |
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(16,822 |
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Contract liabilities |
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(55,251 |
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(51,790 |
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Operating lease liabilities |
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(97 |
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— |
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Total liabilities |
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$ |
(72,727 |
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$ |
(68,612 |
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Commitments and contingencies |
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Shareholders’ equity |
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Ordinary shares - par value £0.05 per share; 141,701,848 shares |
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(10,290 |
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(10,288 |
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Additional paid-in capital |
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(617,648 |
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(609,560 |
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Accumulated deficit |
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550,802 |
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474,044 |
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Accumulated other comprehensive loss |
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3,073 |
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11,781 |
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Total shareholders' equity |
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(74,063 |
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(134,023 |
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Total liabilities and shareholders' equity |
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$ |
(146,790 |
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$ |
(202,635 |
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Silence Therapeutics plc
Condensed Consolidated Statements of Operations
(Unaudited, in thousands, except share and per share data)
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Three months ended Sept 30, |
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Nine months ended Sept 30, |
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2025 |
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2024 |
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2025 |
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2024 |
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Revenue |
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$ |
159 |
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$ |
1,498 |
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$ |
525 |
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$ |
17,953 |
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Cost of sales |
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(64 |
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(3,639 |
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(203 |
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(9,772 |
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Gross profit |
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95 |
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(2,141 |
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322 |
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8,181 |
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Research and development costs |
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(20,544 |
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(20,159 |
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(59,004 |
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(45,806 |
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General and administrative expenses |
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(5,795 |
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(7,697 |
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(18,610 |
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(21,342 |
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Restructuring charges |
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— |
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— |
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(1,324 |
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— |
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Operating loss |
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(26,244 |
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(29,997 |
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(78,616 |
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(58,967 |
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Foreign currency gain/(loss), net |
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1,934 |
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(11,396 |
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(8,448 |
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(11,266 |
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Other income, net |
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770 |
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1,412 |
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2,600 |
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3,430 |
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Benefit from R&D credit |
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2,583 |
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4,486 |
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7,633 |
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9,713 |
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Loss before income tax expense |
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(20,957 |
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(35,495 |
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(76,831 |
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(57,090 |
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Income tax expense |
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(1 |
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(49 |
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(11 |
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(521 |
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Net Loss |
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$ |
(20,958 |
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$ |
(35,544 |
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$ |
(76,842 |
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$ |
(57,611 |
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Loss per share (basic and diluted) |
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$ |
(0.15 |
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$ |
(0.25 |
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$ |
(0.54 |
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$ |
(0.42 |
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Weighted average shares outstanding (basic and diluted) |
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141,701,848 |
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141,198,163 |
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141,692,294 |
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137,775,274 |
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