The firm faces a critical liquidity squeeze, with quarterly free cash flow outflows averaging approximately $2.8 million over the last year, leaving a minimal cash buffer of $2.4 million as of 2026Q1.
| 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 |
Insufficient capital runway
As reported in financial statements, the company's operating cash flow consistently trails net income, with an OCF/NI ratio that reached 1.33 in 2026Q1, highlighting that cash outflows are driven by clinical development requirements rather than accounting accruals typical of a mature, revenue-generating enterprise.
The persistent gap between net income and operating cash flow suggests that the firm's accounting losses are being exacerbated by actual cash expenditures on R&D. Investors should monitor this divergence, as it indicates that the company's cash burn is fundamentally tied to the pace of its clinical trials rather than non-cash accounting adjustments.
Based on recent SEC filings, Silexion Therapeutics has maintained a consistent negative free cash flow trajectory, with quarterly outflows averaging approximately $2.8 million over the last year, underscoring the company's total reliance on external financing to fund its ongoing research and development activities.
The lack of positive free cash flow is expected for a clinical-stage biotech, but the consistency of these outflows suggests a high-burn environment that leaves little room for operational error. Without a clear path to commercialization, this trajectory implies that the company will remain dependent on dilutive capital raises for the foreseeable future.
According to historical data, working capital changes have been highly erratic, swinging from a $1.3 million inflow in 2025Q4 to a $1.3 million outflow in 2026Q1, which suggests that the company's cash position is sensitive to the timing of vendor payments and clinical trial site expenses.
This volatility in working capital appears to be a byproduct of the company's project-based cost structure rather than efficient cash management. Analysts should interpret these fluctuations as evidence of the firm's limited ability to smooth out its cash requirements during the intensive phases of its SiG12D-LODER program.
As disclosed in recent financial statements, stock-based compensation reached $5.8 million in 2024Q3, a significant figure that masks the true economic cost of operations and potentially dilutes existing shareholders while providing a non-cash mechanism to preserve limited liquid assets for critical clinical trial milestones.
The use of stock-based compensation appears to be a strategic necessity to conserve the company's $5.99 million cash balance. However, investors should be wary of how these non-cash expenses impact the long-term equity structure, as they represent a real cost to shareholders that is not fully captured in the operating cash flow figures.
Quick answers to the most common questions about buying SLXNW stock.
Silexion Therapeutics Ltd. (SLXNW) generated $-10.8M in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
Silexion Therapeutics Ltd. (SLXNW) reported negative free cash flow of $10.8M in 2025, indicating capital requirements exceeded cash from operations.
Silexion Therapeutics Ltd. (SLXNW) 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.