Silence Therapeutics (SLN) Registration filing summary

Company overview and business model

• Focuses on developing siRNA-based therapeutics to silence disease-associated genes, targeting unmet needs in rare and common diseases using its proprietary mRNAi GOLD™ platform.

• Pipeline includes candidates for cardiovascular, hematologic, and rare diseases, with several programs in preclinical to Phase III stages.

• Incorporated in England and Wales, with principal offices in London and a U.S. presence in New Jersey.

Financial performance and metrics

• As of March 31, 2026, had 141,703,840 ordinary shares outstanding and $38.5 million in net tangible book value ($0.82 per ADS).

• After a $100 million offering at $6.10 per ADS, pro forma net tangible book value would be $135 million ($2.12 per ADS), with immediate dilution of $3.98 per ADS to new investors.

• Financial statements audited by PricewaterhouseCoopers LLP, with an emphasis on the need for additional financing for future R&D.

Use of proceeds and capital allocation

• Net proceeds intended for continued clinical development, working capital, capital expenditures, investments, acquisitions, and collaborations.

• Management retains broad discretion over allocation and timing of expenditures.