Silence Therapeutics prices $175 million ADS offering at $13.50 per share

Silence Therapeutics plc priced an underwritten public offering on August 11, 2026. The company entered into an underwriting agreement with Jefferies LLC and Morgan Stanley & Co. LLC, as representatives of the several underwriters, to issue and sell 12,962,963 American Depositary Shares¹, each representing three ordinary shares.

The offering price to the public was $13.50 per ADS, and the underwriters agreed to purchase the ADSs from the company at a price of $12.69 per ADS¹. Silence also granted the underwriters an option to purchase, for 30 days, up to an additional 1,944,444 ADSs¹.

The company estimated net proceeds of approximately $164.0 million, or approximately $188.7 million if the underwriters exercise in full their option to purchase additional ADSs, after deducting underwriting discounts and commissions and estimated offering expenses¹. Closing of the offering is expected to occur on August 13, 2026, subject to customary closing conditions.¹

The prospectus supplement states Silence intends to use the net proceeds, together with existing cash and cash equivalents, to fund continued clinical development of its product candidates and for other general corporate purposes, including working capital, capital expenditures, investments, and collaborations.² The company said it believes the net proceeds from this offering, together with current cash and cash equivalents, will be sufficient to fund operating expenses and capital expenditure requirements into 2030.²

The offering follows an August 10, 2026 announcement in which Silence reported positive topline results from the Phase 2 SANRECO trial, a 36-week, randomized, double-blind, placebo-controlled portion of the Phase 2 trial evaluating divesiran (6 mg/kg) administered subcutaneously every six weeks or every twelve weeks, which met its primary endpoint and secondary endpoints.² Based on those results, the company expects to initiate a Phase 3 trial evaluating divesiran for Q12W dosing versus placebo in the first half of 2027.²