Promising Phase 1 Data and Strong Mechanistic Rationale Justify Buy Rating for Silence Therapeutics’ Divesiran in Polycythemia Vera

H.C. Wainwright analyst Patrick Trucchio has reiterated their bullish stance on SLN stock, giving a Buy rating today.

Patrick Trucchio has given his Buy rating due to a combination of factors surrounding the promising data from Silence Therapeutics’ Phase 1 study of divesiran in polycythemia vera (PV). The data presented at the European Hematology Association Congress highlighted divesiran’s potential as a first-in-class RNAi therapeutic for PV, a condition with limited long-term treatment options. The study showed that divesiran was well tolerated at all dose levels and effectively reduced hematocrit and hemoglobin, eliminating the need for phlebotomy in well-controlled patients.
Additionally, the data demonstrated robust target engagement through sustained hepcidin induction and iron redistribution, reinforcing the mechanistic rationale for TMPRSS6 inhibition in PV. With ongoing enrollment in the Phase 2 portion of the SANRECO program and full enrollment expected by the end of 2025, there is potential for further data in late 2026. These developments, combined with the clean safety profile and compelling clinical results, strengthen the commercial and clinical potential of divesiran and Silence’s broader RNAi platform, justifying the Buy rating.