Silexion Stock Hits Record Intraday Low After Pricing $5M Offering, But Retail Excitement Over Cancer Data Endures
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Synopsis
Priced at $1.35 per share and warrant, the offering was below Wednesday’s closing price of $1.56.
Shares of Silexion Therapeutics lost more than a quarter of their market capitalization on Thursday morning, hitting a record intraday low after the company priced a $5 million public offering late Wednesday.
The stock is also on track for its worst day since Dec. 26.
The offering includes approximately 3.7 million ordinary shares and accompanying warrants for purchasing up to 3.7 million additional shares.
Priced at $1.35 per share and warrant, the offering was below Wednesday’s closing price of $1.56.
The warrants, which will expire five years from issuance, carry an exercise price of $1.35 and are exercisable immediately. The offering is expected to close on Friday.
Despite the steep decline in share price, retail sentiment for Silexion was ‘extremely bullish’ on Stocktwits, where message volume surged to a six-month high.
Some users voiced plans to buy shares once the offering concludes, while others noted the company’s low float, available cash, and technical levels as reasons for cautious optimism.
Fueling this sentiment further is Wednesday’s release of encouraging preclinical data for Silexion’s experimental pancreatic cancer treatment, SIL-204.
According to the company, SIL-204 demonstrated strong synergistic effects when combined with common chemotherapeutic agents, including 5-fluorouracil, irinotecan, and gemcitabine, in human cell lines with KRAS G12D mutations, the most prevalent type of pancreatic cancer.
Silexion said it plans to initiate toxicology studies for SIL-204 within the next few months, with phase 2/3 clinical trials scheduled for the first half of 2026.
Financially, Silexion ended the third quarter of 2024 with cash and equivalents totaling $2 million and debt near $230,000, according to Koyfin.
However, the stock has lost over 98% of its value in the past year, reflecting challenges that may affect its prospects.
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