Silence Therapeutics Share Discussion Threads

[1gw] 12/3/2021 09:11

Last night's update (Barclays Global Healthcare Conference presentation) on the Takeda story was as follows, as I heard it, talking about the technology evaluation deal:

"...which may we hope lead to further things in the future."

[1gw] 09/3/2021 12:29

Nothing new that I could spot in the HC Wainwright session, but I thought Rothera finished with a bit of a knowing smile when giving the Takeda status update. As I heard it:

"The technology evaluation deal that we have on the one target continues well and, you know, we'll see where that progresses."

There was also a bit of a move forward I think on SLN360 thinking, with a clear hint that they would look to partner coming out of P2 and into P3 because of the challenge of scale that they would face (potential blockbuster drug and likely to be competing against Novartis and Amgen).

[volsung] 08/3/2021 15:16

Bought a few more for 569p

[1gw] 08/3/2021 10:04

I'm hoping the next big announcement is a licensing deal with Takeda. I was very encouraged by Rothera's response to the Takeda question at Cowen.

[kreature] 08/3/2021 08:16

Perhaps best to give this a bit of time? How long will the trials take to completely conclude?

[1gw] 06/3/2021 16:08

Clinical trial record for SLN360 also updated to show recruiting locations.

[1gw] 06/3/2021 16:02

Clinical trial record for SLN124 healthy volunteer P1 updated in line with recent presentations to show no longer recruiting, with actual enrollment of 24 participants.

[1gw] 04/3/2021 09:49

Average shares on loan up significantly in February according to the Euroclear data. Shorters doubling down?

Jul 2.0 (million shares on loan month average)
Aug 1.8
Sep 2.8
Oct 3.2
Nov 2.9
Dec 2.7
Jan 2.9
Feb 3.8

[1gw] 02/3/2021 08:55

There are 2 clinical studies underway for SLN124, plus the SLN360 clinical study.

SLN124 Phase 1 - Healthy Volunteer Study
Fully enrolled (3 SAD cohorts of 8 subjects)

SLN124 Phase 1b - Patients (Thalassemia & MDS)
Now enrolling (up to 4 SAD cohorts of 8 plus up to 3 MAD cohorts of 8)

SLN360 Phase 1 - High Lp(a) subjects
Now enrolling, first patient dosed (up to 5 SAD cohorts of 8, up to 4 MAD cohorts of 12)

The first to report should be the SLN124 Phase 1 study. This has outcomes measured after 8 weeks and is on track to report in 1H 2021.

You could always read the "Investor Presentation" on the SLN site:

[kreature] 02/3/2021 06:05

What’s phase 1b? Have they still not completed enrolment? Or is this a new phase?

[1gw] 01/3/2021 15:48

Cowen presentation just finished.

I noted that SLN124 patient study (Phase 1b) is now showing as "open for enrollment".

I had submitted a question about Takeda and it was taken:

The evaluation is apparently still ongoing and the relationship is going well. So there's nothing yet to report on converting it to a license agreement.

Not for the first time, then, a bit of a delay against previous timetable indications, but good to hear explicitly that it is still ongoing and progressing well.

[kreature] 27/2/2021 11:02

1g would you check staff turnover when you get a minute? Does everyone still work there? Thanks

[wilko14] 26/2/2021 15:03

Thanks for the info. As you say, sometimes what is not said is more important than what is said. Looking forward to further updates from them through the year and hoping for an ARWR style story!

[1gw] 26/2/2021 14:58

Other than that bit of news, main points I jotted down were:

o Takeda still on the patnership program slide (but no other update on Takeda);
o Again talking about doing P2 for SLN360 themselves before partnering;
o Now talking about CVOT (cardiovascular outcomes trial) as the base case;
o When they do look to partner SLN360, probably important to have a single global brand given the wide potential market for such a drug;
o Apparently keen to emphasise Mallinckrodt still committed to the complement program.

From that I take it that discussions with Takeda are probably still ongoing. Given what they have previously said about the research deal being a 1-year deal and the intention to convert it to a licence deal if successful, I think they would have to update the slides appropriately if there was no longer the possibility of a follow-on licence deal.

[1gw] 26/2/2021 14:36

There's the SLN124 (healthy volunteers) clinical update then. Now fully enrolled.

[1gw] 26/2/2021 13:55

Well, I do think the corporate presentation looks a lot like an Information Memorandum that might be used in an M&A context...

I'm still hoping we might get a bit of an update on clinical progress or undisclosed pipeline in the presentation, as well presumably as some commentary on the Mallinckrodt program work. And it will be interesting to see if they comment on Takeda.

[wilko14] 26/2/2021 08:37

Personally I think it’s hugely underwhelming. I’m still long and happy at the growth to date, but was expecting more.

This share is there for a buyout imho.

[1gw] 26/2/2021 07:47

I think this bit is quite significant, indicating progress on the first asset as well:

"We look forward to working with Silence to progress IND enabling studies related to our complement pathway C3 targeting program this year."

I would rather have seen a big Takeda deal announced, but this is interesting, reminding the market that, despite chapter 11, Mallinckrodt is still progressing (and paying for) the complement program. And with the C3 part heading into IND enabling studies, that brings forward the prospect of the bigger milestone payments, beyond the balance of the $10m of research milestones.

From the original 2019 release:
"Silence is also eligible to receive up to $10 million in research milestones for SLN500 and for each optioned asset, in addition to funding for Phase 1 clinical development including GMP[4] manufacturing. The collaboration provides for potential added clinical and regulatory milestone payments of up to $100 million for SLN500, as well as commercial milestone payments of up to $563 million for SLN500."

[spectre10] 26/2/2021 07:08

An announcement has come, but it's not the Takeda announcement!

SLN (" Silence " or " the Company "), a leader in the discovery, development and delivery of novel short interfering ribonucleic acid (siRNA) therapeutics for the treatment of diseases with significant unmet medical need, today announced the Company will receive a $2.0 million milestone payment following the initiation of work on a third target being explored under its ongoing RNAi research collaboration with Mallinckrodt plc ("Mallinckrodt") for the treatment of complement pathway-mediated diseases.

[1gw] 24/2/2021 15:23

Good to see Richard Griffiths increasing his CFD position in SLN given the IG-inspired turmoil.

[1gw] 24/2/2021 12:25

Maybe. The Mallinckrodt announcement was just before noon on a Thursday, i.e. while the UK market was open.

We're not guaranteed an announcement, they may just update commentary on the trials (e.g. number enrolled, which they appear not to treat as market sensitive as they dropped the SLN124 "2 of 3 cohorts now fully enrolled" into the January presentation).

But it would be nice to get a Takeda announcement or some early results on SLN124 or even a bit more granularity on the pipeline - what are some of those multiple programs with undisclosed targets and undisclosed indications? And you would think they might want a bit of new material for this round of presentations.

[wilko14] 24/2/2021 10:52

So what do we think for this round of conferences, perhaps an RNS Thursday and then discuss the output on Friday/Monday?

Haven’t seen a decent RNS on a Friday before...

[wilko14] 22/2/2021 09:48

Also, anything in the fact that SVB Leerinkn are particularly negative on Arrowhead? Could they be seen as a good place to give positive news on SLN and pick up investors?

[wilko14] 22/2/2021 09:43

I’m increasingly confident that there will be news of a partnership, partial sale to BP, or licensing deal.

[1gw] 22/2/2021 09:36

So 3 investor presentations scheduled now (26th Feb, 1st Mar, 9th Mar), all labelled as "updates". That suggests to me a reasonable chance of actual news this week.