Monitor upcoming Phase 1 data readout for SL-325 in Q2 2026 as the key near-term catalyst; the extended cash runway reduces near-term dilution risk
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Executive Summary
Shattuck Labs reported full-year 2025 financial results showing reduced net loss of $48.8 million (down from $75.4M in 2024) due to lower R&D and G&A expenses following pipeline restructuring. The company raised $21.4 million in Q1 2026 through an ATM offering, extending its cash runway into 2029. Clinical progress includes advancement of its lead candidate SL-325 into Phase 1 data readout (expected Q2 2026) and planned Phase 2 initiation in Crohn's disease (Q3 2026).
Key Financial Metrics
Key Facts
- Net loss decreased to $48.8M in 2025 from $75.4M in 2024 due to R&D program discontinuation and workforce reductions
- Cash and investments totaled $78.1M as of December 31, 2025, with $94.5M unaudited as of February 28, 2026 after $21.4M ATM raise
- Cash runway now extends into 2029 based on current plans
- SL-325 Phase 1 trial completed enrollment with data expected in Q2 2026
- Phase 2 trial in Crohn's disease expected to initiate in Q3 2026
- Lead bispecific antibody entered IND-enabling activities
Financial Impact
Reduced annual net loss by $26.6 million while extending cash runway to 2029 through $21.4 million capital raise
Risk Factors
- Clinical development risk for SL-325 with data readout pending
- Dependence on successful clinical outcomes to maintain valuation given pre-revenue status
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001628280-26-014987 |
| Document: sttk-20260305.htm | 0001628280-26-014987 |
| Document: 0001628280-26-014987-index-headers.html | 0001628280-26-014987 |
| Document: 0001628280-26-014987-index.html | 0001628280-26-014987 |
| Document: 0001628280-26-014987.txt | 0001628280-26-014987 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 11, 2026 11w ago | 8-K | $7.18 $7.45 | ▲ +3.76% | ▲ +4.16% | $5.81 (−19.08%) |
Aug 11, 2026 11w ago | Press Release | $7.18 $7.45 | ▲ +3.76% | ▲ +4.16% | $5.81 (−19.08%) |
Jul 7, 2026 15w ago | Insider Cluster | $6.88 $6.29 | ▼ −8.58% | ▼ −9.44% | $5.81 (−15.55%) |
Jul 2, 2026 16w ago | Insider Cluster | $7.05 $7.03 | ▼ −0.28% | ▼ −1.21% | $5.81 (−17.59%) |
Jun 11, 2026 19w ago | 8-K | $4.18 $4.74 | ▼ −13.40% | ▼ −12.96% | $5.81 (−39.00%) |
Jun 11, 2026 19w ago | Institutional Cluster | $4.18 $4.74 | ▼ −13.40% | ▼ −12.96% | $5.81 (−39.00%) |
Jun 11, 2026 19w ago | 424B5 | $4.18 $4.74 | ▼ −13.40% | ▼ −12.96% | $5.81 (−39.00%) |
Jun 10, 2026 19w ago | Press Release | $4.13 $4.33 | ▼ −4.84% | ▼ −1.41% | $5.81 (−40.68%) |
Jun 9, 2026 19w ago | 424B5 | $4.13 $4.33 | ▼ −4.84% | ▼ −1.41% | $5.81 (−40.68%) |
Jun 9, 2026 19w ago | 8-K | $4.13 $4.33 | ▲ +4.84% | ▲ +1.41% | $5.81 (+40.68%) |
US Market Status
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