Silence Therapeutics plc
- Open
- 9.03
- Day high
- 9.38
- Day low
- 8.91
- Prev close
- 9.09
- Volume
- 232K
- Mkt cap
- $439M
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 8.9
- P/S
- 476.2
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$16.4M over the last 3 months (0 open-market buys, 6 sales)
- 🏛Institutions accumulating (13F)
Silence Therapeutics plc (SLN) is a Healthcare company listed on NASDAQ. The stock is up 41% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 6 sales (SEC Form 4).
Silence Therapeutics plc (SLN) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 2 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
SLN earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 7, 2026 | $-0.33 | $-0.32 | +3.0% | $422000 | -66.4% |
| Mar 5, 2026 | $-0.32 | $-0.25 | +21.9% | $34000 | -98.5% |
| Nov 6, 2025 | $-0.40 | $-0.45 | -12.5% | $159000 | -94.9% |
| Aug 7, 2025 | $-0.27 | $-0.54 | -100.0% | $224000 | -93.1% |
| May 8, 2025 | $-0.18 | $-0.60 | -233.3% | $183707 | -92.1% |
| Nov 14, 2024 | $-0.42 | $-0.75 | -78.6% | $1M | -73.7% |
| May 16, 2024 | $-0.23 | $-0.05 | +78.3% | $16M | +146.4% |
| Nov 14, 2023 | $-0.56 | $-0.28 | +50.0% | $3M | +16.7% |
| Aug 16, 2023 | $-0.59 | $-0.36 | +39.0% | $12M | +202.5% |
| May 16, 2023 | $-0.51 | $-0.35 | +31.4% | $14M | +347.4% |
| Nov 10, 2022 | $-0.60 | $-0.25 | +58.3% | $4M | — |
| Aug 11, 2022 | $-0.60 | $-0.16 | +73.1% | $4M | — |
SLN insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jul 7, 2026 | Griffiths Richard Ian10 percent owner | Sell | 79,180 | $10.62 |
| Jul 7, 2026 | Griffiths Richard Ian10 percent owner | Sell | 50,082 | $10.47 |
| Jul 7, 2026 | Griffiths Richard Ian10 percent owner | Sell | 865,112 | $10.53 |
| Jul 7, 2026 | Griffiths Richard Ian10 percent owner | Sell | 169,928 | $10.76 |
| Jul 7, 2026 | Griffiths Richard Ian10 percent owner | Sell | 330,072 | $10.69 |
| Jul 7, 2026 | Griffiths Richard Ian10 percent owner | Sell | 50,000 | $10.62 |
| Feb 13, 2026 | Griffiths Richard Ian10 percent owner | Sell | 2,000 | $7.75 |
| Feb 13, 2026 | Griffiths Richard Ian10 percent owner | Buy | 20,000 | $5.45 |
| Feb 13, 2026 | Griffiths Richard Ian10 percent owner | Buy | 2,000 | $7.75 |
| Feb 13, 2026 | Griffiths Richard Ian10 percent owner | Sell | 20,000 | $5.45 |
| Jan 6, 2026 | MCINERNEY TIMOTHYdirector | Grant | 90,000 | $2.05 |
| Jan 6, 2026 | Ede-Golightly Jamesdirector | Grant | 90,000 | $2.05 |
| Jan 6, 2026 | Romano Steven J.officer: EVP and Chief R&D Officer | Grant | 300,000 | $2.05 |
| Jan 6, 2026 | HELLUMS RHONDA LYNETTEdirector, officer: Chief Financial Officer | Grant | 375,000 | $2.05 |
| Jan 6, 2026 | Lemus Daviddirector | Grant | 90,000 | $2.05 |
Source: SLN SEC Form 4 filings, latest Jul 7, 2026. For informational purposes only — not investment advice.
See the full SLN insider & 13F page →Silence Therapeutics plc company profile
Overview
Silence Therapeutics plc (NASDAQ:SLN) is a London-based biotechnology company founded in 2001 that specializes in developing RNA interference (RNAi) therapeutics. The company went public on NASDAQ in September 2020 after previously trading as SR Pharma plc before changing its name in 2007. Silence focuses on creating short interfering RNA (siRNA) molecules that can selectively silence disease-causing genes, particularly targeting rare hematological conditions, cardiovascular diseases, and metabolic disorders. The company operates through strategic partnerships with major pharmaceutical companies including AstraZeneca, Hansoh Pharmaceutical, and Mallinckrodt while advancing its proprietary pipeline of RNAi therapeutics.
Business
Silence Therapeutics operates in the biotechnology sector, specifically within the emerging field of RNA interference (RNAi) therapeutics. RNAi is a natural cellular mechanism that regulates gene expression by degrading specific messenger RNA (mRNA) molecules before they can be translated into proteins. The company harnesses this biological process to create therapeutic interventions for diseases caused by the overproduction of harmful proteins. The company's core technology platform, called mRNAi GalNAc Oligonucleotide Discovery platform, designs short interfering RNA molecules that can precisely target and silence specific disease-associated genes, primarily in the liver. These siRNA molecules are chemically modified and conjugated with GalNAc (N-acetylgalactosamine) sugars that enable targeted delivery to liver cells, where they bind to complementary mRNA sequences and trigger their destruction through the body's natural RNAi machinery. Silence's business consists of two main segments: 1. **Proprietary Pipeline Development (approximately 60% focus)**: The company develops its own therapeutic candidates, including zerlasiran (SLN360) for cardiovascular disease caused by high lipoprotein(a) levels, and divesiran (SLN124) for rare blood disorders including polycythemia vera, non-transfusion dependent thalassemia, and myelodysplastic syndrome. The company also has SLN548 in development, which targets complement factor B for complement-mediated disorders. 2. **Partnership and Collaboration Revenue (approximately 40% focus)**: Silence generates revenue through strategic partnerships where it applies its RNAi platform to discover and develop therapeutics for partner companies. Major collaborations include agreements with AstraZeneca for cardiovascular, renal, metabolic, and respiratory diseases; Hansoh Pharmaceutical for three undisclosed targets; and Mallinckrodt for complement cascade disorders.
Revenue model
Silence Therapeutics operates a dual revenue model combining proprietary drug development with strategic partnerships. The company generates income through multiple streams including milestone payments, licensing fees, research funding, and potential future royalties from successful drug commercialization. **Partnership Revenue**: The majority of current revenue comes from collaboration agreements. In 2024, the company received $24.6 million primarily from its Hansoh Pharmaceutical collaboration, representing milestone payments for achieving specific development targets. These partnerships provide upfront payments, research funding, development milestones (potentially up to $14 million annually), and future royalty payments if drugs reach market. Partners handle later-stage development costs and commercialization, reducing Silence's financial risk while providing ongoing revenue streams. **Proprietary Development**: For wholly-owned programs like zerlasiran and divesiran, Silence retains full commercial rights but bears all development costs. The company plans to either partner these programs before expensive Phase 3 trials or, for rare disease indications with smaller patient populations, potentially commercialize independently. This model offers higher potential returns but requires significant capital investment and carries greater execution risk. **Factors Affecting Profitability**: The company's margins are significantly influenced by clinical trial success rates, as failed programs result in sunk R&D costs without revenue generation. Partnership terms and milestone achievement timing create revenue volatility. Regulatory approval timelines affect cash burn duration, while competition from other RNAi companies or alternative therapeutic approaches could impact partnership values. Manufacturing scale-up costs for GalNAc-conjugated siRNAs and the specialized delivery requirements for liver-targeted therapeutics also influence long-term cost structures. The company's focus on rare diseases with limited patient populations means smaller addressable markets but potentially higher pricing power and reduced competition compared to mass-market therapeutics.
Competitive moat
Silence Therapeutics possesses a moderate but narrowing competitive moat based primarily on its specialized expertise in liver-targeted RNAi therapeutics and established partnership relationships. The company's mRNAi GalNAc platform represents years of accumulated knowledge in siRNA design, chemical modification, and liver-specific delivery mechanisms, creating technical barriers for new entrants. The company's strongest competitive advantage lies in its clinical validation and partnership network. Successful clinical results, particularly zerlasiran's >90% reduction in lipoprotein(a) levels, demonstrate platform efficacy and attract pharmaceutical partners seeking proven RNAi capabilities. Long-term collaborations with major pharmaceutical companies like AstraZeneca provide both revenue stability and validation of the company's technology platform. However, this moat faces significant competitive pressures. Larger biotechnology companies like Alnylam Pharmaceuticals have greater resources, more advanced RNAi platforms, and established commercial infrastructure. The fundamental RNAi technology is not proprietary to Silence, and GalNAc conjugation methods are increasingly standardized across the industry. Generic drug manufacturers could potentially develop biosimilar versions of successful RNAi therapeutics once patents expire. **Disruption risks** include alternative gene silencing technologies such as antisense oligonucleotides, CRISPR-based gene editing, and traditional small molecule drugs that achieve similar therapeutic outcomes. The company's focus on rare diseases provides some protection through smaller addressable markets that may not attract large competitors, but also limits growth potential. Patent expiration and the relatively straightforward nature of siRNA manufacturing once clinical proof-of-concept is established could erode competitive advantages over time.
Risks & safety
**Overall Assessment**: Silence Therapeutics maintains a reasonable margin of safety for a clinical-stage biotechnology company, with strong cash reserves but ongoing operational losses typical for the sector. **Cash and Solvency**: - Cash and short-term investments: $121.3 million (as of Q4 2024) - Current ratio: 11.14, indicating strong liquidity position - Quarterly cash burn: approximately $12-25 million based on recent operations - Estimated runway: extends into 2027 based on current burn rate - Minimal debt burden with debt-to-equity ratio of 0.0009 **Valuation Metrics**: - Trading at significant discount to recent highs (current price ~$3.70 vs. 52-week high of ~$17) - Price-to-book ratio: 2.42, reasonable for biotech sector - Enterprise value reflects clinical-stage risk premium - Graham net-net ratio: 0.70, suggesting potential undervaluation **Other Considerations**: - Clinical trial binary risk remains primary concern for all pipeline programs - Partnership revenue provides some stability but depends on milestone achievement - Regulatory approval timelines create execution uncertainty - Competition from larger RNAi companies poses strategic risk
Recent development
Over the past few years, Silence Therapeutics has executed a strategic pivot toward rare disease indications while maintaining its partnership-driven revenue model. The company's most significant development has been the clinical advancement of zerlasiran for cardiovascular disease, which demonstrated exceptional efficacy with >90% reduction in lipoprotein(a) levels in Phase 2 trials. However, management made the strategic decision to delay Phase 3 development until securing a pharmaceutical partner, prioritizing capital efficiency over speed to market. The company has simultaneously advanced divesiran for polycythemia vera, a rare blood disorder where the drug eliminated the need for phlebotomy treatments in well-controlled patients during Phase 1 trials. This program received FDA Fast Track and orphan drug designations, accelerating the regulatory pathway. Management expects full enrollment in the Phase 2 study by year-end 2024, representing a key near-term catalyst. **Strategic partnerships have evolved significantly**, with Silence retrieving certain programs from its Hansoh Pharmaceutical collaboration based on encouraging preclinical data, suggesting the company sees greater value in self-development or alternative partnerships. The company also expanded its platform with SLN548 targeting complement factor B, entering the complement-mediated disorders space with plans for Phase 1 studies in healthy volunteers. A notable operational change includes Silence's transition to U.S. domestic issuer reporting, reflecting its increased focus on American capital markets and potential future partnerships with U.S.-based pharmaceutical companies. The company has also extended its cash runway into 2027 through careful capital allocation, allowing for multiple clinical readouts without immediate financing pressure.
SLN company profile · for informational purposes only — not investment advice.
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