Silence Therapeutics plc (NASDAQ:SLN) Q4 2022 Earnings Call Transcript

Patrick Trucchio: Just a few follow-ups on Zerlasiran. Just the first is, I’m wondering if you can tell us what you would hope to learn from the MAD portion of the Phase I trial and how, if at all, new learnings could impact the Phase II program and would it impact more so beyond the future potential outcomes trial? And then how — can you discuss kind of the level of enthusiasm among investigators and patients regarding enrollment in the Phase II trial and just the level of confidence you have in that 4Q ’23 timing for enrollment completion?

Craig Tooman: Let me say the enthusiasm is very strong and we have a lot of conviction about our year-end goal in terms of enrollment. And Giles, I’ll let you take it from there.

Giles Campion: Yes. I think it relates also to our introductory remarks. I mean the visibility of Lp(a) as an untreated risk factor has increased exponentially. And I think it reflects — is certainly reflected in the enthusiasm in which investigators are participating in the study. So we’re very confident of our commitment to report by year-end. Sorry, what was the second part?

Patrick Trucchio: And just surround the MAD portion of the Phase I trial, what learnings are you looking for there? And how could it impact the Phase II trial, if at all? Or would that impact more so on maybe a future outcomes trial?

Giles Campion: I think it’s helpful in a number of ways. One, it provides interim data before we start an outcome study and before we have the Phase II data. The Phase II is running in parallel. So it won’t impact the Phase II study but it will provide further information to optimize dose and dose frequency for the Phase III.

Patrick Trucchio: Yes. And then just one, if I may, on SLN124. I’m just wondering, as we get this additional data in thalassemia, I’m wondering what read-through, if any, could that program provide to the PV program or other potential indications? And what other indications do you presently view as being potentially most relevant for SLN124?

Giles Campion: Well, although we’re working through hepcidin for both indications, it’s — the approach is different. And if anything, the polycythemia vera indication is more analogous to what we’ve seen in the healthy volunteer study because these individuals have normal iron distribution. So what we’re doing in polycythemia is to restrict iron delivery to the bone marrow to reduce red cells mass. So I think it’s more analogous to what we saw in healthy volunteers because the underlying iron metabolism is normal. In beta-thalassemia, of course, you have iron overload, so a different situation.

Patrick Trucchio: Right. And then just kind of your current thinking in terms of potential additional indications for SLN124.

Craig Tooman: We’ve not announced any additional areas. But as Giles mentioned, given that it’s mechanistic in this general area, we have seen some very encouraging data preclinically and we continue to evaluate those for the future.

Operator: Your next question comes from the line of Keay Nakae from Chardan Research.

Keay Nakae: You mentioned potential milestones coming in from partnered programs? And can you provide any other additional color about what might enter the clinic this year?

Craig Tooman: Rhonda, on milestones?

Rhonda Hellums: Sure. Yes, we have — from the existing partnerships, we have the potential to receive up to $14 million within the next 12 months. Again, that is if we do achieve certain clinical milestones associated with those. And of course, that does extend our current cash runway.

Craig Tooman: Giles, is there anything additionally entering the clinic, nothing else that we’ve described today.

Giles Campion: No, we haven’t announced any further additions to the clinic.

Keay Nakae: Okay. And Rhonda, with respect to the cash runway, do you foresee the need at this point to do any further belt tightening?