Silence Therapeutics Reported 2023 Revenue of £25.4M, EPS Loss of £(38.9), Cash Balance of £54.0M

Author: Benzinga Newsdesk | March 13, 2024 07:09am

Financial Highlights for Year End 2023

• Cash Position: Cash and cash equivalents of £54.0 million ($68.8 million) as of December 2023, compared with £71.1 million as of December 31, 2022.
• Collaboration Revenue: Collaboration revenue was £25.4 million for the year ended December 31, 2023, and £17.5 million for the year ended December 31, 2022, and related to research services performed under the collaboration agreements with AstraZeneca, Hansoh and Mallinckrodt.
• R&D Expenses: Research and development (R&D) expenses were £44.0 million for the year ended December 31, 2023, compared to £35.6 million for the year ended December 31, 2022. The increase is a result of additional clinical studies and an increase in contract manufacturing activities for Silence's proprietary programs.
• G&A Expenses: General and administrative (G&A) expenses were £20.6 million for the year ended December 31, 2023, compared to £19.6 million for the year ended December 31, 2022. The increase is primarily due to non-cash stock compensation costs.
• Net Loss: Net loss was £43.3 million, or 38.9 pence basic and diluted net loss per share for the year ended December 31, 2023, compared to a net loss of £40.5 million, or 41.9 pence basic and diluted net loss per share for the year ended December 31, 2022.

Posted In: SLN