Revenue, expenses rise in third quarter for Silence Therapeutics

16th Nov 2021 11:39

(Sharecast News) - Silence Therapeutics said on Tuesday that its revenue increased by £1.2m year-on-year in its third quarter, as a result of the further advancement of its partner programmes, as well as the introduction of additional programmes with its partners.
The AIM-traded firm said that for the nine months ended 30 September, revenue totalled £9m, compared to £3.1m a the same time a year ago.

It said research and development expenses for the third quarter totalled £7.9m, compared to £3.5m year-on-year, while for the first nine months they summed £23.5m, up from £13.6m.

"The largest contributor to the increase in research and development spend is contracted research and development expenses, which increased by £5.5m due to the advancement of clinical studies and manufacturing of clinical supply," the board said in its statement.

Silence said administrative expenses increased £2.8m for the three month period, and for the nine months they came in at £14.6m, compared to £7.8m a year earlier.

"As at 30 September 30, we had cash, cash equivalents and term deposits of £76.5m, [up from] £43.9m."

At 1122 GMT, shares in Silence Therapeutics were flat at 540p.