Silence Therapeutics plc
SLNHealthcare|Biotechnology|GB
$19.73
+0.01 (+0.05%)
DCF Value
$1.78
Tangible Book / Share
$1.77
Cash / Share
$4.58
Financials
Financial Snapshot
Market Cap
$931.9M
Enterprise Value
$860.0M
Revenue (TTM)
$614.3K
Net Income (TTM)
-$60.0M
Cash & Investments
$72.1M
Net Cash
$71.9M
Free Cash Flow (TTM)
-$42.3M
Operating CF (TTM)
-$42.3M
Debt/Equity
0.00
Cash Runway & Burn Rate
Cash on Hand
$72.1M
Quarterly Burn
$10.6M
Monthly Burn
$3.5M
Est. Runway
~6.8 quarters
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $39.0M | $43.1M | $26.5M | $33.5M | $37.4M | $73.5M | $71.1M | $54.4M | $117.7M | $85.1M | $72.1M | |
| Operating Cash Flow | -$10.1M | -$9.6M | -$16.8M | $1.7M | -$10.8M | $9.2M | -$57.0M | -$39.4M | -$54.1M | -$62.3M | -$42.3M | |
| Free Cash Flow | -$10.6M | -$9.8M | -$16.9M | $1.7M | -$11.3M | $7.4M | -$57.6M | -$39.4M | -$54.2M | -$62.3M | -$42.3M | |
| Capital Expenditure | -$537.0K | -$173.0K | -$188.0K | -$9.0K | -$514.0K | -$1.8M | -$545.0K | -$45.0K | -$168.6K | -$55.0K | -$58.0K | |
| Financing Cash Flow | -$101.0K | $48.0K | $341.0K | $5.3M | $15.4M | $41.4M | $52.6M | $25.2M | $113.5M | $15.0K | $1.9K |
R&D Spending
R&D (TTM)
$46.0M
R&D Intensity
7480.2%
R&D Growth vs Prior
-32.2%
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $770.0K | $16.0K | $0.00 | $244.0K | $5.5M | $12.4M | $17.7M | $25.4M | $43.3M | $559.0K | $614.3K | |
| R&D Expense | $8.7M | $7.9M | $9.7M | $13.3M | $20.2M | $30.8M | $35.5M | $44.0M | $67.9M | $67.8M | $46.0M | |
| R&D % of Revenue | 1131.3% | 49643.8% | — | 5465.6% | 368.8% | 247.8% | 201.1% | 173.5% | 156.9% | 12120.4% | 7480.2% | |
| SG&A | $4.0M | $6.5M | $10.8M | $9.6M | $14.0M | $20.0M | $20.9M | $20.6M | $26.9M | $22.3M | $21.2M |
Income Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $770.0K | $16.0K | $0.00 | $244.0K | $5.5M | $12.4M | $17.7M | $25.4M | $43.3M | $559.0K | $614.3K | |
| Cost of Revenue | $8.7M | $7.9M | $9.7M | $0.00 | $3.8M | $7.5M | $11.0M | $10.3M | $11.8M | $215.0K | $301.0K | |
| Gross Profit | -$7.9M | -$7.9M | -$9.7M | $244.0K | $1.7M | $5.0M | $6.7M | $15.1M | $31.4M | $344.0K | $313.3K | |
| R&D | $8.7M | $7.9M | $9.7M | $13.3M | $20.2M | $30.8M | $35.5M | $44.0M | $67.9M | $67.8M | $46.0M | |
| SG&A | $4.0M | $6.5M | $10.8M | $9.6M | $14.0M | $20.0M | $20.9M | $20.6M | $26.9M | $22.3M | $21.2M | |
| Operating Income | -$11.9M | -$14.4M | -$20.6M | -$22.7M | -$35.8M | -$45.8M | -$49.8M | -$49.6M | -$63.3M | -$89.8M | -$66.8M | |
| Interest Expense | $0.00 | $15.0K | $0.00 | $33.0K | $16.0K | $8.0K | $47.0K | $34.0K | $0.00 | $0.00 | $0.00 | |
| Pretax Income | -$10.4M | -$3.8M | -$20.5M | -$22.9M | -$36.0M | -$45.9M | -$40.5M | -$50.3M | -$44.5M | -$88.6M | -$59.9M | |
| Net Income | -$8.4M | -$1.6M | -$18.4M | -$19.6M | -$32.5M | -$39.4M | -$41.0M | -$43.3M | -$45.3M | -$88.6M | -$60.0M | |
| EPS (Diluted) | -0.36 | -0.07 | -0.78 | -0.78 | -1.11 | -1.35 | -3.78 | -3.48 | -2.37 | -5.67 | -3.81 | |
| EBITDA | -$11.6M | -$3.3M | -$20.2M | -$22.4M | -$35.5M | -$45.4M | -$39.9M | -$49.8M | -$49.1M | -$88.0M | -$60.3M | |
| Shares Out. (M) | 23.27 | 23.31 | 23.44 | 25.04 | 27.26 | 29.65 | 10.73 | 12.36 | 15.42 | 15.74 | 15.75 |
Balance Sheet
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $39.0M | $42.7M | $21.5M | $13.5M | $27.4M | $73.5M | $54.8M | $54.4M | $96.9M | $11.3M | $72.1M | |
| Short-Term Investments | $0.00 | $319.0K | $5.0M | $20.0M | $10.0M | $0.00 | $16.3M | $0.00 | $20.8M | $73.8M | $0.00 | |
| Total Current Assets | $42.0M | $45.5M | $29.5M | $37.5M | $76.4M | $86.3M | $96.7M | $81.6M | $149.7M | $118.7M | $94.3M | |
| Total Assets | $55.8M | $55.0M | $38.9M | $46.1M | $86.0M | $96.2M | $107.5M | $94.5M | $161.9M | $131.4M | $106.4M | |
| Total Current Liabilities | $1.6M | $2.7M | $3.8M | $9.7M | $25.6M | $15.2M | $21.9M | $17.7M | $13.4M | $13.6M | $12.7M | |
| Long-Term Debt | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Total Liabilities | $1.6M | $2.7M | $3.8M | $25.2M | $76.9M | $87.7M | $85.4M | $77.1M | $54.8M | $69.1M | $67.9M | |
| Stockholders' Equity | $54.2M | $52.4M | $35.1M | $20.9M | $9.1M | $8.5M | $22.1M | $22.0M | $107.0M | $62.3M | $38.5M | |
| Retained Earnings | -$116.0M | -$116.4M | -$133.8M | -$152.0M | -$184.2M | -$223.0M | -$263.3M | -$431.9M | -$378.6M | -$562.6M | -$589.6M |
Cash Flow Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$10.1M | -$9.6M | -$16.8M | $1.7M | -$10.8M | $9.2M | -$57.0M | -$39.4M | -$54.1M | -$62.3M | -$42.3M | |
| Capital Expenditure | -$537.0K | -$173.0K | -$188.0K | -$9.0K | -$514.0K | -$1.8M | -$545.0K | -$45.0K | -$168.6K | -$55.0K | -$58.0K | |
| Free Cash Flow | -$10.6M | -$9.8M | -$16.9M | $1.7M | -$11.3M | $7.4M | -$57.6M | -$39.4M | -$54.2M | -$62.3M | -$42.3M | |
| Investing Cash Flow | -$4.7M | $13.0M | -$4.8M | -$15.0M | $9.6M | $11.7M | -$20.5M | $16.4M | -$17.6M | -$48.0M | $72.9M | |
| Financing Cash Flow | -$101.0K | $48.0K | $341.0K | $5.3M | $15.4M | $41.4M | $52.6M | $25.2M | $113.5M | $15.0K | $1.9K | |
| Issuance of Stock | $0.00 | $48.0K | $341.0K | $5.3M | $15.8M | $41.7M | $52.6M | $25.3M | $113.5M | $15.0K | $1.9K | |
| Repurchase of Stock | -$101.0K | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Net Debt Issuance | $0.00 | $0.00 | $0.00 | $0.00 | -$402.0K | -$284.8K | $0.00 | -$174.0K | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $475.0K | $638.0K | $681.0K | $584.0K | $4.4M | $11.7M | $12.7M | $13.1M | $10.4M | $8.1M | $13.6M | |
| Net Change in Cash | -$12.9M | $3.7M | -$21.3M | -$8.0M | $13.9M | $62.2M | -$33.1M | -$785.0K | $42.0M | -$110.1M | $30.3M |
Dilution Tracker
Shares Outstanding
47M
5-Year Share Growth
-42.2%
Stock Issuance (TTM)
$1.9K
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 23.27 | 23.31 | 23.44 | 25.04 | 27.26 | 29.65 | 10.73 | 12.36 | 15.42 | 15.74 | 15.75 | |
| Change vs Prior % | — | 0.2% | 0.5% | 6.8% | 8.8% | 8.8% | -63.8% | 15.2% | 24.7% | 2.1% | 0.0% | |
| Stock Issuance | $0.00 | $48.0K | $341.0K | $5.3M | $15.8M | $41.7M | $52.6M | $25.3M | $113.5M | $15.0K | $1.9K | |
| Stock Repurchase | -$101.0K | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $475.0K | $638.0K | $681.0K | $584.0K | $4.4M | $11.7M | $12.7M | $13.1M | $10.4M | $8.1M | $13.6M |
Margins & Profitability
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin % | -1031.3% | -49543.8% | — | 100.0% | 31.3% | 39.9% | 37.8% | 59.3% | 72.7% | 61.5% | 51.0% | |
| Operating Margin % | -1546.2% | -89943.8% | — | -9317.2% | -654.3% | -369.0% | -281.9% | -195.5% | -146.4% | -16056.0% | -10880.2% | |
| Net Margin % | -1096.1% | -10112.5% | — | -8025.4% | -594.0% | -317.4% | -232.4% | -170.5% | -104.7% | -15851.9% | -9759.2% | |
| EBITDA Margin % | -1506.0% | -20793.8% | — | -9161.9% | -648.5% | -365.9% | -226.2% | -196.2% | -113.5% | -15750.6% | -9814.0% | |
| FCF Margin % | -1377.0% | -61075.0% | — | 704.1% | -206.1% | 59.5% | -326.2% | -155.3% | -125.3% | -11149.6% | -6893.2% | |
| ROE % | -15.6% | -3.1% | -52.5% | -93.7% | -359.3% | -462.2% | -185.9% | -196.7% | -42.3% | -142.2% | -106.9% | |
| ROA % | -15.1% | -2.9% | -47.3% | -42.5% | -37.9% | -41.0% | -38.2% | -45.8% | -28.0% | -67.4% | -56.3% | |
| ROIC % | -17.9% | -11.8% | -52.6% | -53.0% | -53.3% | -48.5% | -57.9% | -55.4% | -42.6% | -76.1% | -71.3% | |
| R&D / Revenue % | 1131.3% | 49643.8% | — | 5465.6% | 368.8% | 247.8% | 201.1% | 173.5% | 156.9% | 12120.4% | 7480.2% |
Growth (Year over Year)
Fiscal years. Rising share count growth means dilution.
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 0.0% | -97.9% | -100.0% | 0.0% | 2145.5% | 126.6% | 42.2% | 43.7% | 70.5% | -98.7% | |
| Gross Profit | -11.6% | 0.2% | -22.9% | 102.5% | 603.7% | 188.8% | 34.7% | 125.5% | 108.9% | -98.9% | |
| Operating Income | -21.9% | -20.9% | -42.9% | -10.5% | -57.7% | -27.8% | -8.6% | 0.3% | -27.6% | -41.7% | |
| Net Income | -27.0% | 80.8% | -1037.9% | -6.4% | -66.2% | -21.1% | -4.1% | -5.4% | -4.7% | -95.6% | |
| EPS (Diluted) | -20.0% | 80.8% | -1025.5% | 0.0% | -42.3% | -21.6% | -180.0% | 7.9% | 31.9% | -139.2% | |
| Operating Cash Flow | -21.9% | 4.6% | -74.6% | 110.3% | -724.0% | 185.2% | -721.0% | 31.0% | -37.4% | -15.2% | |
| Free Cash Flow | -16.5% | 7.8% | -73.4% | 110.1% | -757.2% | 165.4% | -879.8% | 31.6% | -37.6% | -15.0% | |
| R&D Expense | 22.4% | -8.8% | 22.7% | 36.9% | 51.5% | 52.2% | 15.4% | 24.0% | 54.2% | -0.2% | |
| SG&A Expense | 49.3% | 63.0% | 67.5% | -11.0% | 45.0% | 43.1% | 4.6% | -1.4% | 30.3% | -16.9% | |
| Total Assets | -9.3% | -1.4% | -29.3% | 18.5% | 86.6% | 11.9% | 11.8% | -12.1% | 71.2% | -18.8% | |
| Book Value / Share | -17.8% | -3.6% | -33.4% | -44.2% | -60.2% | -13.5% | 615.3% | -31.6% | 393.3% | -43.0% | |
| Debt | 0.0% | 0.0% | 0.0% | 0.0% | 18.8% | -59.8% | 225.5% | -38.6% | -65.9% | 71.2% | |
| Diluted Shares | 9.0% | 0.2% | 0.5% | 6.8% | 8.8% | 8.8% | -63.8% | 15.2% | 24.7% | 2.1% |
Valuation
P/E (TTM)At Loss
P/S1517.07
10Y Low / Med / High1.96 / 80.11 / 21031.88
P/B8.08
10Y Low / Med / High0.79 / 7.68 / 61.38
EV/EBITDAAt Loss
EV/Revenue1399.96
10Y Low / Med / High4.52 / 151.35 / 18360.32
P/FCFAt Loss
Intrinsic Value Models (per share)
DCF Value
$1.78
Tangible Book / Share
$1.77
Net Current Assets / Share
$0.56
Graham Net-Net
$0.70
Cash / Share
$4.58
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio | -43.88 | -208.28 | -19.60 | -18.85 | -14.51 | -13.07 | -3.34 | -3.92 | -2.32 | -1.07 | -5.18 | |
| P/S Ratio | 477.31 | 21031.88 | 0.00 | 1509.12 | 80.11 | 42.15 | 7.66 | 6.65 | 1.96 | 171.24 | 1517.07 | |
| P/B Ratio | 6.78 | 6.43 | 10.22 | 17.61 | 48.45 | 61.38 | 6.13 | 7.68 | 0.79 | 1.54 | 8.08 | |
| EV/EBITDA | -28.33 | -88.30 | -16.69 | -15.88 | -11.59 | -9.91 | -2.03 | -2.30 | 0.25 | -0.96 | -14.26 | |
| EV/Revenue | 426.64 | 18360.32 | 0.00 | 1454.91 | 75.16 | 36.24 | 4.58 | 4.52 | -0.28 | 151.35 | 1399.96 |
Analyst Estimates & Quality
Altman Z-Score
-2.55
Distress
Piotroski F-Score
1
Weak
Forward Estimates (consensus)
| Metric | FY2026 | FY2027 | FY2028 |
|---|---|---|---|
| Revenue | $438.1K | $1.3M | $713.6K |
| Net Income | -$5.7M | -$8.7M | -$10.4M |
| EPS | $-0.36 | $-0.55 | $-0.66 |
| # Analysts (EPS) | 3 | 3 | 1 |
Revenue Segments
By Product
| Segment | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Research Collaboration Income | $12.0M | $16.9M | $24.8M | $43.1M | $559.0K |
| Royalty Income | $392.0K | $600.0K | $600.0K | $100.0K | — |
By Geography
| Segment | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| GERMANY | $392.0K | $578.0K | $569.0K | $144.0K |