Loading...
01/11 11:26
Loading...
Access earnings results, analyst expectations, report, slides, earnings call, and transcript.
The earnings call reveals moderate revenue growth and improved net loss, but lacks strong catalysts like new partnerships or guidance upgrades. Management's vague responses in the Q&A and uncertainties around partnerships and competition present potential risks. The decision to delay the Phase 3 trial until a partner is secured extends the cash runway, but doesn't provide immediate positive impact. Overall, the mixed signals and lack of decisive positive news suggest a neutral sentiment for the stock price over the next two weeks.
Revenue $43.3 million in 2024, up from $31.6 million in 2023, an increase of $11.7 million due to collaboration arrangements for siRNA platform development.
Expenses related to partner programs $11.8 million in 2024, down from $12.9 million in 2023, reflecting a decrease in costs associated with partner programs.
R&D Costs $67.9 million in 2024, up from $56.9 million in 2023, an increase primarily due to advancing the zerlasiran and divesiran programs.
General and Administrative Costs $26.9 million in 2024, up from $26.2 million in 2023, primarily due to additional legal and accounting expenses for transitioning to U.S. domestic issuer status.
Net Operating Loss $63.3 million in 2024, slightly improved from $64.4 million in 2023, due to increased revenue offset by higher R&D costs.
Other Income $4.5 million in 2024, up from $1.8 million in 2023, largely from the accretion of U.S. treasury bills.
R&D Tax Credit $13.7 million in 2024, compared to $11.9 million in 2023, reflecting an increase in the benefit from R&D tax credits.
Net Loss $45.3 million in 2024, improved from $54.2 million in 2023, due to increased revenue and other income.
Cash, Cash Equivalents and Short-term Investments $147.3 million at the end of December 2024, consisting of $121.3 million in cash and cash equivalents and $26 million in short-term investments.
Zerlasiran: Positive results from the ALPACAR-360 Phase 2 study in ASCVD patients with high Lp(a), showing over 90% reduction in Lp(a) levels. Phase 3 program design received positive feedback from global regulatory agencies.
Divesiran: Positive results from the SANRECO Phase 1 study, eliminating the need for phlebotomy in well-controlled patients. Phase 2 study is ongoing with full enrollment expected by year-end.
SLN548: Planned Phase 1 study targeting complement factor B to start in the second half of 2025.
Market Positioning: Prioritizing investment in programs targeting rare conditions with unmet needs, focusing on first-in-class and best-in-class siRNAs.
Financial Transition: Transitioned to a U.S. domestic issuer effective January 1, 2025, requiring compliance with U.S. GAAP and reporting in USD.
Revenue Growth: 2024 revenues increased to $43.3 million from $31.6 million in 2023, attributed to collaboration arrangements.
Cost Management: R&D costs rose to $67.9 million in 2024, reflecting investment in zerlasiran and divesiran programs.
Phase 3 Study Initiation: Zerlasiran Phase 3 outcomes study will only be initiated once a partner is secured, extending cash runway into 2027.
Regulatory Compliance Risk: Transitioning from a foreign private issuer to a U.S. domestic issuer requires compliance with U.S. domestic reporting requirements under the Exchange Act, which may involve additional legal and accounting expenses.
Partnership Dependency Risk: The initiation of the Phase 3 outcomes study for zerlasiran is contingent upon securing a partner, which may delay the program and impact cash flow.
Collaboration Termination Risk: Hansoh Pharma opted not to pursue further development under the collaboration, which could affect future revenue and development opportunities.
R&D Investment Risk: Increased R&D costs due to advancing proprietary programs may lead to higher net operating losses if revenue does not grow proportionately.
Market Competition Risk: The company faces competitive pressures in the siRNA market, particularly for treatments targeting rare conditions, which may affect market share and pricing.
Economic Factors: General economic conditions may impact funding availability and investment in R&D, potentially affecting the company's growth and operational plans.
Investment Prioritization: In 2025, Silence Therapeutics is prioritizing investment in programs targeting rare conditions with unmet needs, focusing on first-in-class and/or best-in-class siRNAs.
Phase 3 Study Initiation: The Phase 3 outcomes study for zerlasiran will only be initiated once a partner is secured, which is expected to strengthen the company's cash position into 2027.
Pipeline Advancement: Silence plans to advance additional programs in their pipeline, including extrahepatic work, and has multiple undisclosed programs with encouraging preclinical data.
2024 Revenue: Silence Therapeutics recorded $43.3 million in revenues for 2024, an increase from $31.6 million in 2023.
2025 Cash Guidance: The decision to delay the Phase 3 study for zerlasiran allows for an extended cash runway into 2027.
R&D Expenses: R&D costs rose to $67.9 million in 2024, up from $56.9 million in 2023, primarily due to advancing zerlasiran and divesiran programs.
Net Loss: The net loss for 2024 was approximately $45.3 million, a decrease from $54.2 million in 2023.
Cash Position: At the end of 2024, the company had cash, cash equivalents, and short-term investments totaling $147.3 million.
Shareholder Return Plan: The company has decided to only initiate the Phase 3 outcomes study of zerlasiran once a partner is secured, which extends their projected cash runway into 2027. This decision was made with shareholder feedback in mind, allowing for flexibility to invest in their innovative pipeline while continuing discussions for partnerships.
Cash Position: The company reported cash, cash equivalents, and short-term investments of $147.3 million at the end of December 2024.
Revenue Growth: For the year ended December 31, 2024, the company recorded $43.3 million in revenues, an increase from $31.6 million in 2023.
Net Loss: The company’s net loss for the full year of 2024 was approximately $45.3 million, a decrease from $54.2 million in 2023.
The earnings call highlights financial challenges, such as a net operating loss and dependency on securing a partner for Phase 3 studies, which could delay progress. Despite increased revenue, the company's financial health remains precarious with significant R&D expenses. The Q&A section reveals management's reluctance to provide clarity on partnerships, raising concerns about execution risks. These factors, combined with competitive market pressures and supply chain challenges, suggest a negative sentiment towards the stock's short-term performance.
The earnings call reveals moderate revenue growth and improved net loss, but lacks strong catalysts like new partnerships or guidance upgrades. Management's vague responses in the Q&A and uncertainties around partnerships and competition present potential risks. The decision to delay the Phase 3 trial until a partner is secured extends the cash runway, but doesn't provide immediate positive impact. Overall, the mixed signals and lack of decisive positive news suggest a neutral sentiment for the stock price over the next two weeks.
The earnings call revealed mixed signals. The company reported strong revenue growth and secured significant milestone payments, indicating positive financial performance. However, rising R&D costs and net losses are concerning. The Q&A section highlighted operational challenges and competitive pressures but also showed promising clinical data and potential partnerships. Overall, the sentiment is neutral due to the balance of positive revenue growth and financial challenges, along with the cautious tone in the Q&A section.
All transcripts are sourced directly from the official live webcast or the company’s official investor relations website. We use the exact words spoken during the call with no paraphrasing of the core discussion.
Full verbatim transcripts are typically published within 4–12 hours after the call ends. Same-day availability is guaranteed for all S&P 500 and most mid-cap companies.
No material content is ever changed or summarized in the “Full Transcript” section. We only correct obvious spoken typos (e.g., “um”, “ah”, repeated 10 times”, or clear misspoken ticker symbols) and add speaker names/titles for readability. Every substantive sentence remains 100% as spoken.
When audio quality is poor or multiple speakers talk over each other, we mark the section instead of guessing. This ensures complete accuracy rather than introducing potential errors.
They are generated by a specialized financial-language model trained exclusively on 15+ years of earnings transcripts. The model extracts financial figures, guidance, and tone with 97%+ accuracy and is regularly validated against human analysts. The full raw transcript always remains available for verification.
