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Pharmaceutical company Silence Therapeutics booked a full-year loss as it ramped up R&D spending on its RNA-based treatments.
Pre-tax losses for the year through December amounted to £22.9m, compared to losses of £20.5m on-year.
The company is developing medicines by harnessing the body's natural mechanism of RNA interference, or RNAi, within its cells.
During 2019, it had continued to advance two late-stage preclinical programmes, for the treatment candidates SLN360 and SLN124.
'During the recent period the company has clearly come of age: our proprietary RNAi technology platform has been refined, strengthened and further protected, and the board and management team reinvigorated with exceptional expertise,' chairman Iain Ross said.
'We have progressed the development of our in-house programmes and formed meaningful partnerships with Mallinckrodt, Takeda and AstraZeneca, which will accelerate the development of potentially life-changing RNAi therapeutics, whilst significantly strengthening our balance sheet.'
At 9:33am: (LON:SLN) Silence Therapeutics PLC share price was +9.5p at 451.5p