Liquidity is rapidly evaporating, with cash reserves falling to $2.4 million in 2026Q1 from $9.2 million in 2025Q3, driven by persistent negative free cash flow.
| Cash from Operations | -12.01M | -10.82M | -8.4M | -4.53M | -3.33M | -1.41M | -75K |
| Operating CF Margin % | - | - | - | - | - | - | - |
| Operating CF Growth % | -194.27% | -28.86% | -85.38% | -35.8% | -136.99% | -1776.31% | - |
| Net Income | -12.91M | -11.91M | -16.52M | -5.11M | -3.49M | -755.22K | -195.86K |
| Depreciation & Amortization | 12K | 14K | 25K | 45K | 57K | 0 | 0 |
| Stock-Based Compensation | 420K | 134K | 5.86M | 130K | 125K | 0 | 0 |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | 305K | 344K | 3.82M | 317K | -268K | -182.34K | 0 |
| Working Capital Changes | 161K | 601K | -1.58M | 87K | 239K | -469.68K | 120.86K |
| Change in Receivables | 16K | 0 | 0 | 18K | -40K | 0 | 0 |
| Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Payables | 232K | -40K | 610K | 79K | -38K | 0 | 0 |
| Cash from Investing | -8K | -14K | -22K | 573K | -524K | 0 | 0 |
| Capital Expenditures | -3K | -9K | -22K | -12K | -40K | 0 | 0 |
| CapEx % of Revenue | - | - | - | - | - | - | - |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - | - |
| Other Investing | 0 | 0 | 0 | 78K | 0 | 0 | 0 |
| Cash from Financing | 8.29M | 15.64M | 5.1M | 522K | 2.75M | 116.4M | 126.7K |
| Debt Issued (Net) | 0 | -696K | -250K | 0 | 0 | 150.01K | 149.99K |
| Equity Issued (Net) | 8.21M | 16.34M | 3.05M | 522K | 2.75M | 118.8M | -23.29K |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | 83K | 0 | 2.3M | 0 | 3K | -2.55M | 0 |
| Net Change in Cash | -3.74M | 4.8M | -3.38M | -3.66M | -1.77M | -12.76K | 51.7K |
| Free Cash Flow | -12.02M | -10.83M | -8.42M | -4.54M | -3.38M | -1.41M | -75K |
| FCF Margin % | - | - | - | - | - | - | - |
| FCF Growth % | -31.76% | -28.63% | -85.38% | -34.55% | -139.83% | -1776.32% | - |
| FCF per Share | -37.19 | -81.44 | -13.49 | -40.64 | -2.02 | -0.85 | -0.05 |
| FCF Conversion (FCF/Net Income) | 0.93x | 0.91x | 0.51x | 0.92x | 1.04x | 1.86x | 0.38x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Imminent liquidity and dilution
As reported in financial statements, Silexion Therapeutics consistently exhibits a significant divergence between net income and operating cash flow, with the OCF/NI ratio reaching 1.33 in 2026Q1, suggesting that accounting losses understate the actual cash resources required to sustain the firm's ongoing clinical development activities.
The recurring gap between net income and operating cash flow indicates that non-cash charges and working capital movements are insufficient to bridge the firm's underlying cash burn. Investors should interpret this as a signal that the company's reported net losses are a conservative estimate of the actual capital required to maintain operations.
Based on historical data, Silexion Therapeutics has maintained a consistently negative free cash flow trajectory, with quarterly outflows frequently exceeding $2.5 million, which underscores the company's total dependence on external financing to fund its R&D-heavy pipeline and clinical trial infrastructure in the absence of commercial revenue.
The lack of positive free cash flow is characteristic of a pre-revenue biotech, yet the magnitude of these outflows relative to the company's limited cash reserves warrants close monitoring. This trend suggests that the firm's operational runway is highly sensitive to the timing and success of future capital raises.
According to recent SEC filings, Silexion Therapeutics experienced significant working capital fluctuations, including a $1.3 million outflow in 2026Q1, which reflects the inherent unpredictability of managing clinical trial-related payables and the timing of research-related expenditures within the firm's current operational framework.
These erratic swings in working capital suggest that the company lacks the operational maturity to stabilize its cash conversion cycle. Such volatility may indicate that management is prioritizing clinical milestones over the optimization of short-term liquidity, potentially exacerbating the firm's existing cash constraints.
As indicated by the cash flow statement, Silexion Therapeutics utilizes stock-based compensation, such as the $345,000 recorded in 2026Q1, to manage talent costs, which effectively masks the true economic cost of operations and creates a persistent dilution risk for existing shareholders in this capital-constrained environment.
The reliance on equity-based incentives rather than cash compensation is a common strategy for cash-strapped biotechs, but it obscures the true burn rate of the business. Analysts should view these non-cash adjustments as a potential indicator of future equity dilution that may be necessary to preserve the firm's limited cash balance.
Quick answers to the most common questions about buying SLXN stock.
Silexion Therapeutics Ltd. (SLXN) generated $-10.8M in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
Silexion Therapeutics Ltd. (SLXN) reported negative free cash flow of $10.8M in 2025, indicating capital requirements exceeded cash from operations.
Silexion Therapeutics Ltd. (SLXN) spent $0.0M on capital expenditures in 2025. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.