Silence Therapeutics Share Discussion Threads

[buywell3] 10/12/2018 16:35

buywell3 - 24 Nov 2018 - 02:32:44 - 47636 of 47663 Silence Therapeutics (the old SR Pharma) - SLN

You will be soon able to snap these up sub 70p according to Mr Chart

It's a real bad one

70p gets bust and its the 2012 low next support

Here it is

[volsung] 10/12/2018 16:26

Bought some more at 71.68p. Av now 135.62

[callumross] 10/12/2018 13:46

Well at 72.5p and a market cap of £51.5m and with £37m in the bank, the enterprise value of the company is a ridiculously low £14.5m currently. A great buying opportunity for the patient value investor (or a predator!).

[soundbuy] 10/12/2018 12:14

Reflecting on the Peel Hunt note........

Whether that settlement was in the best interests of shareholders I'm none too sure.....thought they would have had a stronger hand to play..........

Hmmmm.......

[volsung] 10/12/2018 12:10

Bought a few more at 73.75p Av now 142.61p

[soundbuy] 10/12/2018 11:27

Peel Hunt comment

H/T FT Alphaville

We recognise that new management has never oversold the value of litigation (and we risk adjusted in our SOTP model) but that this outcome – whilst good news in putting ongoing risk and litigation cost behind us – is different to previous management’s communication of potential and our assumptions in the model (including £10m milestone and estimated royalties of 2-5%).



This is validation of Silence’s expertise in the RNAi chemistry. New management is much more focused on pipeline and expects to build this out in the near future and is well capitalised for this (PHe 2018E of c£37m cash prior to adjusting for the milestones/todays news).



Further terms of the agreement include the grant from Silence to Alnylam of a non-exclusive, global irrevocable, license to all relevant patents and for all current and future Alnylam products (whether commercialised by Alnylam, a collaborator or a licensee). Under this agreement, all ongoing court proceedings will now be dismissed. We will review with new management and temporarily move to U/R – we will update our model in due course, in order to assess new management’s perspective on timelines and indications now that litigation is out of the way.



Future news flow – with the sensitivities of litigation now behind us, the company will now be able to focus on applying its RNAi expertise to the pipeline. In the near- to medium-future, we believe the company is likely to be able to update on:
• The outcome of sub-licensed IP to Quark (partnered with Novartis) for QPI1002 (currently Phase 3), where SLN are eligible for c1-4% royalties or c15%
of clinical/commercial milestone payments.
• Developments in SLN’s pipeline for new and existing assets. The lead candidate SLN124 for beta-thalassaemia, with CTA planned for H1 2019).

[waterloo01] 10/12/2018 11:26

So suggested that it was Amicus that was looking at SLN. Does this clear the way and why they settled?

[waterloo01] 10/12/2018 11:16

Reactions a bit OTT. Guess many expecting a better outcome from trial. I'll stick around for a bit on hopes for take-over, now this is out the way.

Quark results due shortly: QPI-1002 for Prevention of Delayed Graft Function in Recipients of an Older Donor Kidney Transplant (ReGIFT). Results due December 18

[soundbuy] 10/12/2018 10:25

News went down well then..............

[callumross] 10/12/2018 08:36

The grant of the licence for all other future Alnylam products presumably includes an undisclosed one off payment. "Terms of the settlement, which includes no admissions by any party, are otherwise confidential."

[waterloo01] 10/12/2018 08:34

It does look like a decent deal for Alny, less so for SLN but it does reinforce the patent and might lead to some corporate action?

[1gw] 10/12/2018 08:26

Looks to me like a pretty good outcome for Alny. Do others see it differently?

"Further terms of the agreement include the grant from Silence to Alnylam of a non-exclusive, global irrevocable, license to all relevant patents and for all current and future Alnylam products, whether commercialized by Alnylam or a collaborator or licensee (including ONPATTRO, vutrisiran, givosiran, lumasiran, inclisiran, fitusiran, cemdisiran, ALN-HBV02, ALN-AAT02, and all other investigational therapeutics in Alnylam’s current and future pipeline). Such license is fully paid up with no milestones or royalties, except for the limited royalty on ONPATTRO net sales in the EU described above. "

[soundbuy] 10/12/2018 07:46

If there's a potential acquirer out there this removes the uncertainty

[soundbuy] 10/12/2018 07:25

The mostly likely (and sensible) outcome.......

[waterloo01] 10/12/2018 07:23

So a deal done before the trial.

[1gw] 10/12/2018 07:19

Deal then, but with limits on geographic scope, duration and magnitude of royalty. Maybe some further value as a precedent for other potential drugs?

[1gw] 07/12/2018 16:37

So, settlement talks over the weekend, in court on Monday if no deal reached? Doesn't look like the market's expecting sln to come out on top.

[tshirley12] 04/12/2018 10:22

Hi Callumross,do you know what the "AMENDED COMPLAINT" judgement means.

[callumross] 03/12/2018 16:22

Alnylam are the plaintiff (or pursuer as we call it in Scotland!) in this case and SLN defended the case on grounds that there is no jurisdiction of the Court.

[waterloo01] 03/12/2018 15:34

If I read that correct Alnylam have failed to get it dismissed before the hearing. Makes one feel that a deal on the steps might be possible, but certainly doesn't help Alnylam case.

[callumross] 03/12/2018 15:27

Order on motion to dismiss Alnylam case for lack of jurisdiction;

[callumross] 03/12/2018 15:27

Order on motion to dismiss Alnylam case for lack of jurisdiction;

[1gw] 30/11/2018 14:47

Well, whatever the reason, nice to see an attempt at a bounce today.

Court case due to start a week on Monday, so if they are going to settle before it starts, not a lot of time left now.

[wantage] 30/11/2018 10:14

Don't worry about the chart.In this case it's irrelevant.A big line of stock has finished.They sold indiscriminately into a falling market.Looking for a big bounce which has already started.