Peel Hunt reckons that clinical progress and data will be the catalyst for shares in Silence Therapeutics PLC (AIM:SLN, NASDAQ:SLN, OTC:SLNCF) in the next stage of its market journey.
The drug developer, a specialist in precision medicines using gene silencing, used its third-quarter results to confirm the last day of trading on AIM will be November 29. After that, Silence will purely US-listed – on the Nasdaq exchange that specialises in tech and biotech stocks.
The Q3 numbers revealed the company had cash had £76.5mln on the balance sheet and generated £9mln of revenues for the nine months to that date. It did so via milestone payments from partner programmes. The nine-month operating loss was £34.6mln, reflecting the heavy investment the group ploughed into its drug development assets.
Peel said: “We believe meaningful clinical progress/data is the catalyst for this story now and, despite Silence’s long association with AIM, it will be for US markets now to see this progress.”