What's Going On With Silence Therapeutics Stock Today?
Portfolio Pulse from Nabaparna Bhattacharya
Silence Therapeutics Plc (NASDAQ:SLN) reported a narrower loss per share for 2023 compared to the previous year and an increase in collaboration revenues. Despite this, shares dropped 5.61% to $24.45. The company announced significant cash position improvements and the conclusion of a collaboration with Mallinckrodt (OTC:MNKTQ) on SLN501. Positive data from the ALPACAR-360 phase 2 study of zerlasiran was also shared. Additionally, a $10 million milestone payment was triggered by AstraZeneca PLC (NASDAQ:AZN) for initiating a phase 1 clinical trial.
March 13, 2024 | 2:16 pm
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NEGATIVE IMPACT
Silence Therapeutics reported a narrower loss and increased revenues for 2023, concluded a collaboration with Mallinckrodt, shared positive study data, and received a milestone payment from AstraZeneca.
Despite positive financial and operational updates, the stock price of Silence Therapeutics fell, likely due to market reactions to the concluded collaboration with Mallinckrodt and immediate price action.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
NEUTRAL IMPACT
Mallinckrodt notified Silence Therapeutics that it will not pursue further development of SLN501, concluding their collaboration agreement.
The conclusion of the collaboration with Silence Therapeutics may have a neutral impact on Mallinckrodt's stock as the decision was likely factored into their strategic planning.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
AstraZeneca initiated a phase 1 clinical trial of the first product candidate under its siRNA collaboration with Silence Therapeutics, triggering a $10 million milestone payment to Silence.
The initiation of the phase 1 trial and the milestone payment to Silence Therapeutics highlight the progress in the collaboration with AstraZeneca, potentially positively impacting AZN's stock in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80