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Silence Therapeutics losses widen on R&D spend
StockMarketWire.com
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RNA-based treatment developer Silence Therapeutics reported a full-year loss on the back of an increase in research and development spending.
Pre-tax losses for the year through December amounted to £36.0 million, compared to year-on-year losses of £22.9 million.
Silence said it had advanced both its wholly owned product candidates, including SLN360 for cardiovascular disease and SLN124 for thalassaemia and myelodysplastic syndrome.
It also had secured a significant collaboration deal with AstraZeneca to discover and develop therapeutics for up to 10 targets in cardiovascular, renal, metabolic and respiratory diseases.
'2020 was a transformational year for Silence Therapeutics, driven by the remarkable resilience of our people in what was a challenging year for the world,' chief executive Mark Rothera said.
'We have made significant progress with our mRNAi GOLD platform, with both lead programmes now in the clinic and three data readouts due this year.'
'Alongside advancing our wholly owned pipeline, we continue to progress our high-value partnerships and through this two-pronged approach, our goal is to deliver two-to-three initial drug applications per year from 2023.'
'We are well positioned for success and motivated by our vision to transform people's lives through our precision engineered medicines.'
At 8:59am: (LON:SLN) Silence Therapeutics PLC share price was 0p at 455p
Story provided by StockMarketWire.com
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