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EDISON INVESTMENT RESEARCH LIMITED Edison Investment Research Limited: Edison issues initiation on Silence Therapeutics (SLN)

Directive transparence : information réglementée

09/01/2020 11:03

Edison Investment Research Limited
Edison Investment Research Limited: Edison issues initiation on Silence Therapeutics (SLN)

09-Jan-2020 / 10:03 GMT/BST


 

London, UK, 9 January 2020

Edison issues initiation on Silence Therapeutics (SLN)

We are initiating coverage of Silence Therapeutics (SLN), a developer of siRNA drugs for diseases that can be genetically targeted. Silence has a proprietary platform for developing siRNA therapeutics, the strength of which was highlighted by preclinical development deals with Mallinckrodt and Takeda (details below). The company will also be re-entering the clinic in Q120 with SLN124, its own drug for iron overload. We are initiating with a valuation of £345m or 440p per share.

 

Our initial valuation of £345m or 440p per share is based on a risk-adjusted NPV analysis of the firm's assets and revenue streams and is driven primarily by our valuation of SLN124 (£141m). We forecast that it will require £105m in additional capital to reach profitability in 2026, offset by potential business development deals. 


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About Edison: Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world-renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisers and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

Edison is authorised and regulated by the Financial Conduct Authority.

Edison is not an adviser or broker-dealer and does not provide investment advice. Edison's reports are not solicitations to buy or sell any securities.

For more information please contact Edison:

Nathaniel Calloway, +1 646 653 7036

healthcare@edisongroup.com

 

Learn more at www.edisongroup.com and connect with Edison on: 

LinkedIn        https://www.linkedin.com/company/edison-group-

Twitter           www.twitter.com/Edison_Inv_Res

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949913  09-Jan-2020 

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