Silence Thera's first-half income rises to L1.3M

UK-based Silence Therapeutics says that, in first-half 2007, its revenues increased to L1.3 million ($2.6 million) from L780,000 in the like, year-ago period, boosted by a L1.2 contribution from its RNAi technology portfolio.

However, the firm noted that total costs during the period rose to L4.8 million from L3.0 million resulting in a loss after interest income and tax credits of L3.3 million versus L2.0 million.

According to the company, the increase in expenditure was largely due to a rise in in-house R&D from L1.7 million to L2.4 million, as well as an increase in national insurance contributions which it had to make in order to cover its employee and director options obligations as a result of a sharp rise in its share price.