Silence Therapeutics (SLN)

Sector:

Pharma and Biotech

Index:

FTSE AIM 50

530.00p
   
  • Change Today:
    -22.00p
  • 52 Week High: 649.00p
  • 52 Week Low: 339.00p
  • Currency: UK Pounds
  • Shares Issued: 89.74m
  • Volume: 69,390
  • Market Cap: £475.60m
  • RiskGrade: 177

Silence Therapeutics receives remaining $40m from AstraZeneca partnership

By Josh White

Date: Tuesday 25 May 2021

LONDON (ShareCast) - (Sharecast News) - Silence Therapeutics announced receipt of the remaining $40m (£28.24m) from AstraZeneca on Tuesday, due as part of AstraZeneca's $80m cash and equity investment for the siRNA collaboration announced in March 2020.
The AIM-traded firm said the $40m was included in Silence's reported £97.5m pro forma cash balance at the end of the 2020 financial year.

It said the two companies had also started work on two undisclosed targets, and were on track to begin work on five targets within the first three years of the collaboration.

The collaboration was focused on leveraging Silence's proprietary 'mRNAi GOLD' platform to discover and develop siRNA therapeutics for cardiovascular, renal, metabolic and respiratory diseases.

"We've made significant progress in our collaboration with AstraZeneca over the past year and are well positioned to initiate work on five disease targets within the first three years," said Silence Therapeutics president and chief executive officer Mark Rothera.

"This underscores our firm commitment to rapidly advance our pipeline through both our wholly owned programs and partnership programs."

Under the collaboration, AstraZeneca will pay Silence an option fee of $10m for each selected target at the point of candidate nomination.

For each target selected, Silence would be eligible to receive up to $140m in development milestones and up to $250m in commercialisation milestones, as well as tiered royalties on net sales.

Silence would be responsible for the discovery stage up to the point of candidate nomination, at which point AstraZeneca would take over responsibility and costs for further development.

The company said it would retain responsibility for manufacturing of material to support 'Good Laboratory Practice' (GLP) toxicology studies and phase 1 clinical studies, with costs for that manufacture to be covered by AstraZeneca.

Silence also had the option to negotiate for the co-development of two selected programmes of its choice, starting from phase 2.

"We continue to see great promise in Silence's established siRNA platform to develop novel medicines across our key therapy areas in cardiovascular, renal, metabolic and respiratory diseases," said AstraZeneca's Regina Fritsche Danielson.

"We look forward to our continued partnership and advancing our discovery efforts to address unmet medical needs."

At 1210 BST, shares in Silence Therapeutics were flat at 649p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

SLN Market Data

Currency UK Pounds
Share Price 530.00p
Change Today -22.00p
% Change -3.99 %
52 Week High 649.00p
52 Week Low 339.00p
Volume 69,390
Shares Issued 89.74m
Market Cap £475.60m
RiskGrade 177

SLN Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
43.45% below the market average43.45% below the market average43.45% below the market average43.45% below the market average43.45% below the market average
56% below the sector average56% below the sector average56% below the sector average56% below the sector average56% below the sector average
Price Trend
13.52% above the market average13.52% above the market average13.52% above the market average13.52% above the market average13.52% above the market average
25.81% above the sector average25.81% above the sector average25.81% above the sector average25.81% above the sector average25.81% above the sector average
Income Not Available
Growth
25.58% above the market average25.58% above the market average25.58% above the market average25.58% above the market average25.58% above the market average
22.22% above the sector average22.22% above the sector average22.22% above the sector average22.22% above the sector average22.22% above the sector average

What The Brokers Say

Strong Buy 4
Buy 0
Neutral 1
Sell 0
Strong Sell 0
Total 5
strong_buy
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SLN Dividends

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Trades for 21-Sep-2021

Time Volume / Share Price
17:08 5,001 @ 530.00p
16:35 3,017 @ 530.00p
16:27 3 @ 520.00p
16:27 197 @ 530.00p
16:27 150 @ 530.00p

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