Silence Therapeutics Reported 2023 Revenue of £25.4M, EPS Loss of £(38.9), Cash Balance of £54.0M
Portfolio Pulse from Benzinga Newsdesk
Silence Therapeutics reported a 2023 revenue of £25.4M, driven by collaboration agreements with AstraZeneca, Hansoh, and Mallinckrodt. Despite an increase in revenue, the company experienced a net loss of £43.3M, with a cash balance of £54.0M by year-end. R&D expenses rose to £44.0M due to additional clinical studies and manufacturing activities.
March 13, 2024 | 11:09 am
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Silence Therapeutics reported increased revenue but a higher net loss in 2023, with significant R&D investments.
The increased revenue indicates growth in Silence Therapeutics' collaboration efforts, particularly with notable partners like AstraZeneca, Hansoh, and Mallinckrodt. However, the widened net loss and increased R&D expenses may concern investors about the company's short-term profitability and cash burn rate. The financial performance could lead to negative sentiment in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100