LONDON - Silence Therapeutics plc (NASDAQ:SLN), a biotech firm focusing on RNA interference (RNAi) therapies, has announced positive 48-week results from its phase 2 study of zerlasiran, a potential treatment for cardiovascular disease. The study involved 178 subjects with high levels of lipoprotein(a) or Lp(a), a genetic risk factor for cardiovascular disease, and showed a significant reduction in Lp(a) levels with the administration of zerlasiran.
During the double-blind, placebo-controlled study, participants received 300 mg of zerlasiran subcutaneously every 16 or 24 weeks, or 450 mg every 24 weeks. Results indicated a median maximum reduction of Lp(a) levels of approximately 90% or greater for both dosing regimens. The drug was well tolerated with no serious safety concerns reported.
Steven Romano, MD, Head of Research and Development at Silence, expressed optimism about the phase 2 data and the drug's potential, citing the study's primary endpoint of a significant reduction in Lp(a) levels compared to placebo at 36 weeks. The company plans to advance zerlasiran into phase 3 trials, targeting a major unmet need in cardiovascular disease treatment with a quarterly dosing regimen for the 300 mg dose.
Silence Therapeutics specializes in RNAi-based therapies to silence disease-causing genes. Its proprietary mRNAi GOLD™ platform is used to create short interfering RNAs (siRNAs) that target and silence genes in the liver. Alongside zerlasiran, the company's pipeline includes divesiran for rare hematological diseases.
The full results of the phase 2 study of zerlasiran will be shared at a future scientific meeting or publication after the study's completion. The ongoing study will follow patients until the 60-week mark.
In other recent news, Silence Therapeutics has been making notable strides in the biotechnology sector. The company's RNA interference (RNAi) therapeutic platforms have drawn considerable attention, with significant advancements in their pipeline.
Silence Therapeutics' lead asset, Zerlasiran, has demonstrated over 90% reduction in Lp(a) levels in Phase II trials, a key risk factor for cardiovascular diseases. The company's other promising asset, Divesiran, is set to address the Polycythemia Vera (PV) market, with upcoming clinical data expected to significantly impact the company's valuation.
In analyst circles, BMO Capital Markets has assigned an "Outperform" rating to Silence Therapeutics, with a price target of $67.00, while H.C. Wainwright & Co maintains a "Buy" rating with a price target of $75.00. Recent developments have also seen the retirement of board member Alistair Gray, who has been a part of the company's evolution since 2015.
Despite facing a competitive landscape, Silence Therapeutics maintains a strong cash position, with over $200M expected to last into 2026, enabling continued development and potential commercialization of its therapies.
InvestingPro Insights
Silence Therapeutics plc (NASDAQ:SLN) has recently made headlines with their promising phase 2 study results for zerlasiran, and investors are closely monitoring the company's financial health and market performance. According to InvestingPro data, the company holds a market capitalization of $881.03 million, showcasing its medium-sized presence in the biotech industry. Despite the innovation in their pipeline, analysts have raised concerns, reflected in the company's negative P/E Ratio of -16.83, and a further adjusted P/E Ratio for the last twelve months as of Q1 2024 standing at -19.84, indicating that profitability remains a challenge.
One of the key InvestingPro Tips highlights that Silence Therapeutics currently holds more cash than debt on its balance sheet, which could provide a cushion for the company's ambitious clinical development plans. Moreover, the company's assets seem to be in a favorable position, with liquid assets surpassing short-term obligations, suggesting a degree of financial agility in managing its operational needs.
However, it's important to note that the stock has not been performing well recently, with a 1-month price total return showing a decrease of 19.06%. This could be an area of concern for potential investors looking for short-term gains but might represent a buying opportunity for those who believe in the long-term potential of the company's RNAi therapies.
For those interested in a deeper dive into Silence Therapeutics' financials and stock performance, there are additional InvestingPro Tips available. With the use of the coupon code PRONEWS24, readers can enjoy an extra 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking valuable insights that could inform investment decisions. Visit https://www.investing.com/pro/SLN to explore these tips, including metrics such as revenue growth, gross profit margin, and return on assets, which are crucial for a comprehensive understanding of the company's financial standing.
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