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Silence Posts Increased 1H 2010 Loss on Intradigm Merger Costs

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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.

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