The dilutive overhang from this offering and the concurrent warrant exercises will pressure STTK shares near term. Monitor for any insider selling after the 60-day lock-up expires and for upcoming quarterly results to assess whether the extended cash runway translates into clinical milestones for lead candidate SL-325.
Price Chart
Executive Summary
Shattuck Labs closed a $75M underwritten public offering of 10.9M common shares and 7.9M pre-funded warrants at $4.00/share, with the underwriters' option for an additional 2.8M shares exercised in full. The offering follows two prior 424B5 filings within the past week and concurrent warrant exercises generating ~$54.9M, extending cash runway into 2029. The substantial dilution to existing shareholders is the dominant event, outweighing the positive cash infusion.
Key Financial Metrics
Key Facts
- Underwritten public offering of 10,879,376 common shares and 7,870,624 pre-funded warrants at $4.00/share (common) and $3.9999/warrant
- Underwriters' option for 2,812,500 additional shares exercised in full on June 10, 2026
- Underwriting discount of $0.24/share (purchase price $3.76 vs offering price $4.00)
- Pre-funded warrants exercisable at $0.0001/share with 4.99%/9.99% beneficial ownership limitation
- Offering expected to close June 11, 2026; proceeds extend cash runway into 2029
- Concurrent disclosure that ~96% of August 2025 PIPE warrants exercised, generating ~$54.9M gross proceeds
- 60-day lock-up agreements with executive officers and directors
Financial Impact
~$75M gross proceeds from offering; ~$70.5M net proceeds after underwriting discounts; immediate dilution of ~$2.08/share (52% of offering price) to new investors
Risk Factors
- Immediate and substantial dilution to existing shareholders
- Potential for further dilution if additional capital raises are needed before revenue generation
- Pre-clinical stage company with no approved products; clinical trial risk for SL-325
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 7 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-266745 |
| Document: d163713dex41.htm | 0001193125-26-266745 |
| Document: d163713d8k.htm | 0001193125-26-266745 |
| Document: d163713dex51.htm | 0001193125-26-266745 |
| Document: 0001193125-26-266745-index-headers.html | 0001193125-26-266745 |
| Document: 0001193125-26-266745-index.html | 0001193125-26-266745 |
| Document: 0001193125-26-266745.txt | 0001193125-26-266745 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 11, 2026 10w ago | 8-K | $7.18 $7.45 | ▲ +3.76% | ▲ +4.16% | $5.54 (−22.84%) |
Aug 11, 2026 10w ago | Press Release | $7.18 $7.45 | ▲ +3.76% | ▲ +4.16% | $5.54 (−22.84%) |
Jul 7, 2026 15w ago | Insider Cluster | $6.88 $6.29 | ▼ −8.58% | ▼ −9.44% | $5.54 (−19.48%) |
Jul 2, 2026 16w ago | Insider Cluster | $7.05 $7.03 | ▼ −0.28% | ▼ −1.21% | $5.54 (−21.42%) |
Jun 11, 2026 19w ago | 8-K | $4.18 $4.74 | ▼ −13.40% | ▼ −12.96% | $5.54 (−32.54%) |
Jun 11, 2026 19w ago | Institutional Cluster | $4.18 $4.74 | ▼ −13.40% | ▼ −12.96% | $5.54 (−32.54%) |
Jun 11, 2026 19w ago | 424B5 | $4.18 $4.74 | ▼ −13.40% | ▼ −12.96% | $5.54 (−32.54%) |
Jun 10, 2026 19w ago | Press Release | $4.13 $4.33 | ▼ −4.84% | ▼ −1.41% | $5.54 (−34.14%) |
Jun 9, 2026 19w ago | 424B5 | $4.13 $4.33 | ▼ −4.84% | ▼ −1.41% | $5.54 (−34.14%) |
Jun 9, 2026 19w ago | 8-K | $4.13 $4.33 | ▲ +4.84% | ▲ +1.41% | $5.54 (+34.14%) |
US Market Status
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