Silexion Therapeutics Advances KRAS Cancer Therapies, Reports Q3 2024 Results

Silexion Therapeutics (NASDAQ: SLXN) has reported significant advancements in its development of RNA interference (RNAi) therapies for KRAS-driven cancers, alongside its financial results for the third quarter of 2024. The clinical-stage biotech company, which recently went public, is making strides in addressing some of the most challenging forms of cancer, particularly pancreatic and colorectal cancers.

The company's first-generation candidate, LODER™, has shown promising results in a Phase 2 trial for non-resectable pancreatic cancer. The trial demonstrated a 56% objective response rate in patients with specific KRAS mutations, with tumor resectability improving to 67% in some previously non-resectable cases. These results underscore LODER's potential to significantly improve surgical outcomes and overall survival rates for patients with locally advanced pancreatic cancer (LAPC), a notoriously difficult-to-treat condition.

Silexion is also advancing its next-generation candidate, SIL-204, which aims 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 plans to initiate Phase 2/3 clinical trials by the first half of 2026.

In a significant corporate development, Silexion completed its business combination with Moringa Acquisition Corp on August 15, 2024, becoming a publicly traded company on Nasdaq. This move provides the company with greater access to capital to advance its clinical pipeline, potentially accelerating the development of its innovative cancer therapies.

The financial results for Q3 2024 reflect the company's increased investment in research and development. Total operating expenses rose to $8.0 million, compared to $0.7 million in the same period of 2023. This increase was primarily driven by R&D expenses of $3.2 million and general and administrative expenses of $4.8 million, including significant non-cash share-based compensation expenses.

Silexion reported a net loss of $11.9 million for the quarter, up from $0.8 million in Q3 2023, reflecting the company's expanded operations and one-time costs associated with becoming a public company. As of September 30, 2024, the company had $2.0 million in cash and cash equivalents.

The advancements in Silexion's pipeline, particularly in pancreatic cancer treatment, represent a potential paradigm shift in oncology. KRAS mutations, long considered "undruggable," are implicated in some of the most aggressive and treatment-resistant cancers. Silexion's progress in developing RNAi therapies targeting these mutations could open new avenues for treatment in cancers with limited options.

The company's expansion into colorectal cancer research further broadens the potential impact of its technology. As Silexion prepares to initiate preclinical studies for SIL-204 in colorectal cancer models, it signals a commitment to addressing multiple KRAS-driven cancers, potentially benefiting a wider range of patients.

While the financial results show increased spending, they also reflect the company's strategic investments in advancing its clinical and preclinical programs. The recent public listing and ongoing capital-raising efforts, including the use of an Equity Line of Credit, demonstrate Silexion's efforts to secure the necessary resources for its ambitious research and development goals.

As Silexion Therapeutics moves forward with its innovative RNAi therapies, the biotech industry and cancer patients alike will be watching closely. The company's progress could herald a new era in the treatment of KRAS-driven cancers, offering hope to patients with limited options and potentially reshaping the landscape of cancer therapy.