Silexion Therapeutics Advances RNA Therapies for KRAS-Driven Cancers, Reports Q3 2024 Results

Silexion Therapeutics (NASDAQ: SLXN) is making strides in the development of RNA interference (RNAi) therapies for KRAS-driven cancers, as revealed in its third quarter 2024 financial results and business update. The clinical-stage biotech company, which recently went public, is advancing treatments that could potentially transform the landscape for patients with pancreatic and colorectal cancers.

The company's lead candidate, LODER™, has shown promising results in a Phase 2 trial for non-resectable pancreatic cancer. With a 56% objective response rate in patients with specific KRAS mutations and improved tumor resectability in some cases, LODER demonstrates potential to enhance surgical outcomes and overall survival for patients with locally advanced pancreatic cancer (LAPC).

Silexion's next-generation candidate, SIL-204, is designed to target a broader range of KRAS mutations. Preclinical studies have shown substantial anti-tumor effects and enhanced stability, with a single administration yielding tumor necrosis in pancreatic cancer models. The company is preparing SIL-204 for toxicology studies and aims to initiate Phase 2/3 clinical trials by the first half of 2026.

The expansion into colorectal cancer applications marks another significant development for Silexion. By initiating preclinical studies for SIL-204 in colorectal cancer models, the company is broadening its potential impact across multiple KRAS-driven cancers.

These advancements are particularly noteworthy given the challenges in treating KRAS-mutated cancers, which have long been considered "undruggable." Silexion's progress in RNAi therapies could offer new hope for patients with limited treatment options.

Financially, Silexion reported a cash position of $2.0 million as of September 30, 2024, compared to $4.6 million at the end of 2023. The decrease reflects investments in clinical and preclinical development, as well as costs associated with the company's public listing. Total operating expenses for Q3 2024 were $8.0 million, up from $0.7 million in the same period of 2023, primarily due to increased research and development activities and general administrative expenses.

The net loss for the third quarter was $11.9 million, an increase from $0.8 million in Q3 2023. This rise is attributed to higher research and development expenses, general and administrative costs, and financial expenses, including significant non-cash items related to share-based compensation and costs associated with becoming a public company.

Ilan Hadar, Chairman and CEO of Silexion, emphasized the company's recent achievements, stating, "The last few months and Q3 specifically has been pivotal for Silexion as we achieved notable progress across our clinical and preclinical programs and successfully completed our Nasdaq listing."

As Silexion continues to advance its pipeline, the potential impact on cancer treatment is significant. The company's focus on KRAS mutations, which are present in approximately 30% of all human cancers, positions it at the forefront of addressing a critical unmet need in oncology. Success in this area could lead to more effective treatments for patients with pancreatic, colorectal, and potentially other KRAS-driven cancers, ultimately improving survival rates and quality of life for those affected by these aggressive diseases.

The coming months will be crucial for Silexion as it prepares for the next phases of clinical trials and continues to explore the broader applications of its RNAi technology. The biotech industry and cancer patients alike will be watching closely as these potentially groundbreaking therapies progress through development.