Financial Performance - The company reported a net loss of $7,500,000 for the nine months ended September 30, 2025, a decrease from a net loss of $14,772,000 for the same period in 2024, reflecting a 49% improvement[30]. - The loss per share for the nine months ended September 30, 2025, was $10.36, significantly lower than the loss per share of $754.85 for the same period in 2024[30]. - The company experienced a net loss of $(7,500,000) for the period ending September 30, 2025[35]. - The company reported a net loss of $11,851,000 for the three months ended September 30, 2024[38]. - The company experienced a net loss of $3,262,000 as of September 30, 2025[39]. - The company reported an accumulated deficit of $50.8 million as of September 30, 2025, reflecting ongoing financial challenges since inception[125]. - Net loss decreased by approximately $7.3 million, or 49.3%, to $7.5 million for the nine-month period ended September 30, 2025, compared to $14.8 million for the same period in 2024[148]. - Net loss decreased by approximately $8.6 million, or 72.3%, to $3.3 million for the three-month period ended September 30, 2025, compared to $11.9 million for the same period in 2024[155]. Assets and Liabilities - As of September 30, 2025, total assets increased to $11,614,000 from $2,863,000 as of December 31, 2024, representing a growth of approximately 305%[25]. - Current assets rose significantly to $11,055,000 compared to $2,250,000 at the end of 2024, marking an increase of about 390%[25]. - The company’s total liabilities decreased to $4,637,000 as of September 30, 2025, from $6,852,000 at the end of 2024, a reduction of approximately 32%[28]. - Shareholders' equity improved to $6,977,000 as of September 30, 2025, compared to a capital deficiency of $3,989,000 at the end of 2024, indicating a positive shift in equity status[28]. - The balance of ordinary shares as of September 30, 2025, is projected to be 3,126,642, with a capital deficiency of $(50,754,000)[35]. - The total capital deficiency was reported at $50,754,000 as of September 30, 2025[39]. - The company has incurred total losses of $16,519,000 for the year ended December 31, 2024, indicating a need for ongoing financial support[52]. Cash Flow and Financing - The company raised $11,000,000 from public offerings in January 2025 and September 2025, and an additional $2,300,000 from SPAC merger transactions[42]. - The company is currently evaluating various financing alternatives to support future research and development activities, as it has not yet generated revenues[51]. - The company anticipates needing to raise additional capital to finance operations and expand the business within the next 12 months[159]. - The company entered into an At-The-Market (ATM) Agreement to raise up to $13.17 million in ordinary shares, with no sales made under this agreement during Q3 2025 due to customary restrictions[177]. - The company plans to finance cash needs through public and private equity offerings, but adequate financing may not be available on acceptable terms[212]. - Reliance on equity financing could lead to significant dilution of current shareholders' equity interests[213]. Research and Development - Research and development expenses decreased to $3,765,000 for the nine months ended September 30, 2025, compared to $4,944,000 in 2024, a decline of about 24%[30]. - The company expects to continue investing in research and development for SIL204, anticipating an increase in related expenses in the future[138]. - The lead product candidate, SIL204, targets the mutated KRAS oncogene, which is present in approximately 92% of pancreatic cancer patients[119]. - The company plans to initiate a clinical trial for SIL204, which is designed to improve clinical outcomes for pancreatic cancer patients[120]. - The company is focused on expanding its intellectual property portfolio and hiring additional personnel to support its operations and product development[130]. Operational Efficiency - Operating expenses for the nine months ended September 30, 2025, totaled $7,226,000, down from $10,671,000 in 2024, indicating a reduction of approximately 32%[30]. - General and administrative expenses for the nine months ended September 30, 2025, were $3,461,000, down 39.6% from $5,727,000 in the same period of 2024[69]. - Financial expenses, net decreased by approximately $3.8 million, or 92.7%, to $0.3 million for the nine-month period ended September 30, 2025, compared to $4.1 million for the same period in 2024[147]. - General and administrative expenses decreased by approximately $3.7 million, or 77.1%, to $1.1 million for the three-month period ended September 30, 2025, compared to $4.8 million for the same period in 2024[153]. Going Concern and Future Outlook - The company has substantial doubt about its ability to continue as a going concern for at least 12 months from the date the financial statements are issued[54]. - The financial statements assume the company will continue as a going concern, which may not be realized if additional funding is not secured[208]. - The company faces uncertainties regarding the timing and costs associated with the development of product candidates, including SIL204[211]. - The company has expressed substantial doubt about its ability to continue as a going concern without additional capital[160].
Silexion Therapeutics Corp(SLXN) - 2025 Q3 - Quarterly Report