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Silexion Therapeutics Corp (SLXN-3.54%) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing details the company's focus on developing treatments for KRAS-driven cancers using RNA-interference therapeutics. Their lead product candidate, SIL204, is being developed for locally advanced pancreatic cancer.
Silexion reported a net loss of $16.5 million for the year, compared to a net loss of $5.1 million in the previous year. The increase in net loss is attributed to higher research and development expenses and general and administrative expenses.
Research and development expenses increased to $5.8 million from $3.7 million, primarily due to increased payroll expenses and share-based compensation.
General and administrative expenses rose to $6.8 million from $1.0 million, driven by increased payroll, share-based compensation, and professional services costs.
The company raised $2.0 million via a PIPE financing and $3.1 million through an equity line of credit with White Lion Capital, LLC.
Silexion's cash and cash equivalents were $1.2 million as of December 31, 2024, with management expressing substantial doubt about the company's ability to continue as a going concern without additional financing.
Future plans include initiating a Phase 2/3 trial for SIL204, with a focus on obtaining Orphan Drug Designation in the U.S. and EU.
The company acknowledges its dependence on additional financing to fund operations and future development plans.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Silexion Therapeutics Corp annual 10-K report dated March 18, 2025. To report an error, please email earnings@qz.com.