Silence Therapeutics plc Files 20-F Annual Report for Fiscal Year 2023

TL;DR

<b>Silence Therapeutics plc submitted its 2023 annual report on Form 20-F, detailing financial performance and operational data.</b>

AI Summary

Silence Therapeutics plc (SLNCF) filed a Foreign Annual Report (20-F) with the SEC on March 13, 2024. Silence Therapeutics plc filed its annual report on Form 20-F for the fiscal year ended December 31, 2023. The filing covers financial data and business operations for the period. Key financial items such as retained earnings, share premium, and capital reserves are reported as of December 31, 2023. The company also reported on options issued and exercised, with specific exercise prices noted. Currency risk, particularly related to Sterling fluctuations against USD and EUR, was assessed for various periods.

Why It Matters

For investors and stakeholders tracking Silence Therapeutics plc, this filing contains several important signals. This filing provides a comprehensive overview of Silence Therapeutics' financial health and strategic positioning for investors and stakeholders. The detailed financial statements and disclosures in the 20-F are crucial for understanding the company's performance, risks, and future outlook.

Risk Assessment

Risk Level: medium — Silence Therapeutics plc shows moderate risk based on this filing. The company's financial disclosures are limited in this extract, making a full assessment of its financial health challenging without more detailed tables on revenue, net income, and debt.

Analyst Insight

Investors should review the full 20-F filing for detailed financial statements, risk factors, and management discussion to assess the company's performance and outlook.

Key Numbers

• 2023-12-31 — Reporting Period End Date (Fiscal year end for the 20-F filing)
• 2024-03-13 — Filing Date (Date the 20-F was filed with the SEC)
• 7.32 — Option Exercise Price (USD) (Specific exercise price for American Depositary Shares options)
• 0.20 — Option Exercise Price (USD) (Specific exercise price for American Depositary Shares options)
• 1.28 — Option Exercise Price (USD) (Specific exercise price for options)
• 7.60 — Option Exercise Price (USD) (Specific exercise price for American Depositary Shares options)
• 2.53 — Option Exercise Price (Ordinary Share) (Specific exercise price for ordinary share options)

Key Players & Entities

• Silence Therapeutics plc (company) — Filer of the 20-F report
• AstraZeneca (company) — Mentioned in research collaborations
• Mallinckrodt (company) — Mentioned in performance obligations

FAQ

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 20-F filing
• 2024-03-13: Filing Date — Date the 20-F was officially submitted to the SEC

Glossary

20-F

An annual report required for foreign private issuers with securities registered in the U.S. (Provides a comprehensive overview of the company's financial performance and business operations.)

American Depositary Shares (ADS)

A negotiable certificate issued by a U.S. depositary bank representing a specified number of ordinary shares of a foreign company. (Relevant for understanding share-based compensation and trading activity.)

Currency Risk

The risk of loss due to fluctuations in exchange rates. (Indicates the company's exposure to foreign currency volatility and its hedging strategies.)

Key Financial Figures

• $1.27 — venience at an assumed exchange rate of $1.27 per 1.00, based on the noon buying rate
• $1.235 billion — which our annual gross revenues exceed $1.235 billion; (2) the last day of 2025; (3) the date
• $700 million — n equity held by non-affiliates exceeds $700 million as of the last business day of our most
• $1.0 billion — date on which we have issued more than $1.0 billion in non-convertible debt securities duri

Filing Documents

• sln-20231231.htm (20-F) — 4100KB
• sln-ex2_3.htm (EX-2.3) — 225KB
• sln-ex4_10.htm (EX-4.10) — 374KB
• sln-ex12_1.htm (EX-12.1) — 15KB
• sln-ex12_2.htm (EX-12.2) — 15KB
• sln-ex13_1.htm (EX-13.1) — 15KB
• sln-ex13_2.htm (EX-13.2) — 16KB
• sln-ex15_1.htm (EX-15.1) — 4KB
• sln-ex97_1.htm (EX-97.1) — 27KB
• img50588744_0.jpg (GRAPHIC) — 83KB
• img171751254_0.jpg (GRAPHIC) — 67KB
• img171751254_1.jpg (GRAPHIC) — 433KB
• 0000950170-24-030519.txt (&nbsp;) — 17397KB
• sln-20231231.xsd (EX-101.SCH) — 1678KB
• sln-20231231_htm.xml (XML) — 3528KB

: IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISORS

ITEM 1: IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISORS 4

: OFFER STATISTICS AND EXPECTED TIMETABLE

ITEM 2: OFFER STATISTICS AND EXPECTED TIMETABLE 4

: KEY INFORMATION

ITEM 3: KEY INFORMATION 4

: INFORMATION ON THE COMPANY

ITEM 4: INFORMATION ON THE COMPANY 46

: UNRESOLVED STAFF COMMENTS

ITEM 4A: UNRESOLVED STAFF COMMENTS 71

: OPERATING AND FINANCIAL REVIEW AND PROSPECTS

ITEM 5: OPERATING AND FINANCIAL REVIEW AND PROSPECTS 72

: DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES

ITEM 6: DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES 87

: MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS

ITEM 7: MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS 105

: FINANCIAL INFORMATION

ITEM 8: FINANCIAL INFORMATION 107

: THE OFFER AND THE LISTING

ITEM 9: THE OFFER AND THE LISTING 107

: ADDITIONAL INFORMATION

ITEM 10: ADDITIONAL INFORMATION 108

: QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

ITEM 11: QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 116

: DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES

ITEM 12: DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES 117 PART II 120

: DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES

ITEM 13: DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES 120

: MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS

ITEM 14: MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS 120

: CONTROLS AND PROCEDURES

ITEM 15: CONTROLS AND PROCEDURES 120

: AUDIT COMMITTEE FINANCIAL EXPERT

ITEM 16A: AUDIT COMMITTEE FINANCIAL EXPERT 121

: CODE OF ETHICS

ITEM 16B: CODE OF ETHICS 121

: PRINCIPAL ACCOUNTANT FEES AND SERVICES

ITEM 16C: PRINCIPAL ACCOUNTANT FEES AND SERVICES 121

: EXEMPTIONS FORM THE LISTING STANDARDS FOR AUDIT COMMITTEES

ITEM 16D: EXEMPTIONS FORM THE LISTING STANDARDS FOR AUDIT COMMITTEES 122

: PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS

ITEM 16E: PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS 122 ITEMS 16F: CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANT 122

: CORPORATE GOVERNANCE

ITEM 16G: CORPORATE GOVERNANCE 122

: MINE SAFETY DISCLOSURE

ITEM 16H: MINE SAFETY DISCLOSURE 123

: DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS

ITEM 16I: DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 123

: INSIDER TRADING POLICIES

ITEM 16J: INSIDER TRADING POLICIES 123

: CYBERSECURITY

ITEM 16K: CYBERSECURITY 123 PART III 126

: FINANCIAL STATEMENTS

ITEM 17: FINANCIAL STATEMENTS 126

: FINANCIAL STATEMENTS

ITEM 18: FINANCIAL STATEMENTS 126

: EXHIBITS

ITEM 19: EXHIBITS 126

SIGNATURES

SIGNATURES 128 INDEX TO CONSOLIDATED FINANCIAL STATEMENTS F- 1 i GENERAL INFORMATION Unless otherwise indicated or the context otherwise requires, all references in this report to the terms "Silence," "Silence Therapeutics," "Silence Therapeutics plc," "the company," "we," "us" and "our" refer to Silence Therapeutics plc together with its subsidiaries. In this Annual Report, the U.S. Securities and Exchange Commission is referred to as the "SEC", the Securities Act of 1933, as amended, is referred to as the "Securities Act" and the Securities Exchange Act of 1934, as amended, is referred to as the "Exchange Act." PRESENTATION OF FINANCIAL AND OTHER DATA We maintain our books and records in pounds sterling and report under International Financial Reporting Standards, or IFRS, as issued by the International Accounting Standards Board, or IASB. None of the financial statements included in this report were prepared in accordance with generally accepted accounting principles in the United States. All references in this report to "

: IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISORS

ITEM 1: IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISORS Not applicable.

: OFFER STATISTICS AND EXPECTED TIMETABLE

ITEM 2: OFFER STATISTICS AND EXPECTED TIMETABLE Not applicable.

: KEY INFORMATION

ITEM 3: KEY INFORMATION A. [Reserved.] B. Capitalization and Indebtedness. Not applicable. C. Reasons for the Offer and Use of Proceeds. Not applicable. D. Risk Factors. Investing in American Depositary Shares representing our ordinary shares, or ADSs, involves a high degree of risk. You should carefully consider the following risk factors and all other information contained in this Annual Report, including our consolidated financial statements and the related notes, before investing in the ADSs. The risks and uncertainties described below are those significant risk factors, currently known and specific to us, that we believe are relevant to an investment in the ADSs. If any of these risks materialize, our business, results of operations or financial condition could suffer, the price of the ADSs could decline and you could lose part or all of your investment. Additional risks and uncertainties not currently known to us or that we now deem immaterial may also harm us and adversely affect your investment in the ADSs. Risks Factor Summary Our business is subject to a number of risks of which you should be aware before making an investment decision. You should carefully consider all of the information set forth in this report and, in particular, should evaluate the specific factors set forth below in this section titled "Risk Factors" before deciding whether to invest in our ADSs. Among these important risks are, but not limited to, the following: Risks Related to Our Financial Condition and Need for Additional Capital We have a history of net losses and we anticipate that we will continue to incur losses for the foreseeable future. We have never generated any revenue from product sales and may never be profitable. We will require additional financial resources to continue the ongoing development of our product candidates and pursue our business objectives. If we are unable to obtain these additional resources when needed or on acceptable terms

View Full Filing

View this 20-F filing on SEC EDGAR