Silence Therapeutics results fail to convince markets

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Silence Therapeutics results fail to convince markets

AIM-listed biotech firm Silence Therapeutics (LON:SLN) saw its share price drop by 2.14% to 458p (as of 16:20 BST) after reporting a widening loss after tax for the six months ended 30th June. The increased loss was linked to higher costs associated with clinical testing and R&D spend.

Chairman Iain Ross commented: “The first half of 2020 was an extraordinary period for Silence, highlighted by significant regulatory achievements, advancement of our proprietary pipeline programmes and execution of major collaborations with AstraZeneca and Takeda, despite the challenges posed by the COVID-19 pandemic. Our balance sheet was significantly strengthened through non-dilutive strategic transactions and our team enhanced with key hires throughout the organisation.

“Recently we announced our successful listing on Nasdaq and today we are announcing the appointment of our new President and CEO, Mark Rothera. I am incredibly proud of what we have achieved so far this year and I believe that under Mark’s leadership we are well equipped to drive long-term value. I would like to thank the entire Silence team for their dedication, resilience and personal support during my time as Executive Chairman and our shareholders for their continued support“.

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