Silence Therapeutics this week reported its financial results for the first half of 2010, posting a sharp rise in its net loss as expenses climbed on its acquisition of Intradigm.
For the six-month period ended June 30, Silence's net loss rose to ₤7.05 million ($11 million) from ₤3.57 million in the year-ago period.
The company's revenues slipped to ₤716,000 from ₤856,000, while research and development spending climbed to ₤4.4 million from ₤2.6 million on costs associated with the Intradigm merger (GSN 4/15/2010).
At the end of June, Silence had cash and cash equivalents totaling ₤7.4 million.