SLNCF · Silence Therapeutics plc

Silence Therapeutics plc announced its first quarter 2026 financial results, showing significant improvement in key metrics driven by cost reductions following the completion of zerlasiran Phase 3 readiness activities in 2025. Research and development expenses dropped sharply to $9.1 million from $20.8 million in Q1 2025, reflecting a more efficient spend profile as the company focuses on high-priority programs. Collaboration revenue from AstraZeneca rose modestly to $0.4 million, underscoring ongoing partnership value. General and administrative expenses edged down to $7.0 million, contributing to a narrower operating loss and net loss of $15.0 million, or $0.11 per share, versus $28.5 million, or $0.20 per share, a year ago. The balance sheet remains solid with $70.1 million in cash, cash equivalents, and short-term investments as of March 31, 2026, providing runway into key milestones. Chairman and Interim CEO Iain Ross emphasized the team's focus on the mRNAi GOLD™ platform and divesiran progress, with Phase 2 SANRECO topline data expected in August 2026—a potential value-inflection point for this first-in-class siRNA targeting polycythemia vera by reducing phlebotomies and improving symptoms, as supported by Phase 1 data accepted for EHA 2026 presentation. SLN312 (AZD1705) also advanced with Phase 1 results highlighted at EAS Congress, signaling competitive potential in dyslipidemia. These clinical catalysts position Silence for long-term shareholder value amid a leaner cost structure.