Why silence theaurupatics is down?

The stock price of Silence Therapeutics has experienced a significant drop following the presentation of data from the Phase 2 ALPACAR-360 study of zerlasiran at the American Heart Association (AHA) Scientific Sessions 2024. Despite positive results showing greater than 80% mean time-averaged placebo-adjusted reductions in Lp(a) concentrations over 36 weeks, with maximum reductions exceeding 90%, and no safety concerns emerging with infrequent dosing, the Q24W dosing schedule has raised concerns about its competitiveness. Analysts have noted that the drug's effectiveness may be diminished by the need for every three-month dosing, which could be less attractive compared to Amgen Inc.'s (NASDAQ:AMGN) olpasiran's once-quarterly dosing frequency. Additionally, the market may be influenced by the potential impact of Muvalaplin, an oral medication, on Zerlasiran's market prospects, and questions regarding Zerlasiran's safety profile. These factors, combined with the competitive concerns and the market's reaction to the new data, have likely contributed to the decline in Silence Therapeutics' stock price.