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Silexion Therapeutics Reports Full Year 2024 Financial Results and Provides Business Update
SLXNSilexion Therapeutics Corp(SLXN) Newsfilter·2025-03-18 20:29

Core Insights - Silexion Therapeutics Corp. reported significant advancements in its clinical pipeline, particularly for its second-generation candidate SIL204, which shows promise in treating KRAS-driven cancers [2][6] - The company successfully transitioned to a publicly traded entity on Nasdaq, enhancing its capital access for ongoing development [4][6] - Financial results for 2024 indicate a net loss of 16.5million,primarilyduetoincreasedoperatingexpensesassociatedwithbecomingapubliccompany[9][14]RecentBusinessandClinicalHighlights−ThecompletionofthemergerwithMoringaAcquisitionCorp.onAugust15,2024,markedastrategicmilestoneforSilexion,providinggreateraccesstocapital[6]−SIL204demonstratedsignificantpreclinicalefficacy,reducingprimarytumorburdenandmetastaticspreadinpancreaticcancermodels[6][9]−ThecompanyplanstoinitiatePhase2/3clinicaltrialsforSIL204bythefirsthalfof2026,targetinglocallyadvancedpancreaticcancer(LAPC)[6][9]FinancialHighlights−Cashandcashequivalentsdecreasedto16.5 million, primarily due to increased operating expenses associated with becoming a public company [9][14] Recent Business and Clinical Highlights - The completion of the merger with Moringa Acquisition Corp. on August 15, 2024, marked a strategic milestone for Silexion, providing greater access to capital [6] - SIL204 demonstrated significant preclinical efficacy, reducing primary tumor burden and metastatic spread in pancreatic cancer models [6][9] - The company plans to initiate Phase 2/3 clinical trials for SIL204 by the first half of 2026, targeting locally advanced pancreatic cancer (LAPC) [6][9] Financial Highlights - Cash and cash equivalents decreased to 1.2 million as of December 31, 2024, down from 4.6millionin2023,reflectingoperationalexpensesandinvestmentsinclinicaldevelopment[9][11]−Totaloperatingexpensesfor2024were4.6 million in 2023, reflecting operational expenses and investments in clinical development [9][11] - Total operating expenses for 2024 were 12.6 million, a significant increase from 4.7millionin2023,drivenbyone−timeexpensesrelatedtothebusinesscombination[9][14]−Thecompanyraisedapproximately4.7 million in 2023, driven by one-time expenses related to the business combination [9][14] - The company raised approximately 9.1 million in gross proceeds through various financing activities post-reporting date, extending its operational runway [9][12] Clinical Program Progress - The first-generation candidate LODER™ showed a 56% objective response rate in a Phase 2 trial for patients with KRAS G12D/V mutations, with tumor resectability improving to 67% [6][9] - SIL204's preclinical studies confirmed its potential for long-term therapeutic exposure, maintaining effective drug levels for over 56 days [6][9] - The company is also exploring SIL204's applications in colorectal cancer, expanding its focus on KRAS-driven cancers [6][9] Board and Management Updates - Prof. Amnon Peled was appointed to the Board of Directors in December 2024, bringing expertise in cancer therapeutics [6][9]