In a turbulent market environment, SLXN stock has reached a new 52-week low, with shares plummeting to $0.27. This significant downturn reflects a broader trend for the company, as evidenced by the staggering 1-year change data showing Moringa Acquisition's shares have declined by -97.4%. Investors are closely monitoring the stock, considering the substantial drop from its previous positions over the year, as the company grapples with the factors contributing to this decline. The market is now keenly awaiting any signs of a turnaround or further indicators that could influence the stock's trajectory in the coming weeks.
In other recent news, Silexion Therapeutics Corp has reported significant advancements in its preclinical studies for SIL-204, a siRNA candidate aimed at treating KRAS-driven cancers. The new microparticle formulation of SIL-204 has shown substantial tumor reduction in mouse models of human pancreatic cancer. The company plans to initiate toxicology studies for SIL-204 in the coming months and is preparing to move into Phase 2/3 clinical trials.
In addition, Silexion reported enhanced results from a Phase 2 trial of LODER™ in treating locally advanced pancreatic cancer. The study indicated a 56% objective response rate among patients and a 67% increase in resectability for previously non-resectable tumors. The trial's findings suggest LODER, when used with standard-of-care chemotherapy, could significantly improve the chances of surgical intervention.
Moving on to corporate updates, Silexion recently saw the resignation of board member Ilan Shiloah due to competing time demands. His departure leaves vacancies on the audit, compensation, and corporate governance and nominating committees. This development follows the company's recent merger with Moringa Acquisition Corp and a name change from Biomotion Sciences to Silexion Therapeutics Corp. These are the recent developments in the company's landscape.
InvestingPro Insights
Recent InvestingPro data underscores the challenges facing SLXN. The stock's market capitalization has dwindled to a mere $2.34 million, reflecting the severe decline in investor confidence. This aligns with the article's mention of the 52-week low, as InvestingPro data shows the stock is trading at just 2.06% of its 52-week high.
InvestingPro Tips highlight that SLXN "suffers from weak gross profit margins" and "does not pay a dividend to shareholders," factors that may be contributing to its poor performance. The stock's high price volatility, as noted by another InvestingPro Tip, explains the dramatic price swings mentioned in the article.
For investors seeking a deeper understanding of SLXN's situation, InvestingPro offers 5 additional tips that could provide valuable context to the company's current market position.
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