Monitor upcoming Phase 1 data readout for SL-325 in Q2 2026, which could serve as a key catalyst. The extended cash runway reduces near-term dilution risk, but future equity raises may still occur depending on clinical progress.
Price Chart
Executive Summary
Shattuck Labs reported financial results for Q4 and full year 2025, showing reduced net losses and R&D expenses due to pipeline prioritization, while raising $21.4 million in Q1 2026 via an at-the-market offering. The company maintains a cash runway into 2029, driven by cost reductions and new capital, with key clinical milestones expected in 2026 for its lead asset SL-325 in Crohn’s disease.
Key Financial Metrics
Key Facts
- Net loss decreased to $12.6M in Q4 2025 from $18.7M in Q4 2024, and full-year net loss fell to $48.8M from $75.4M in 2024.
- R&D expenses dropped to $35.3M in 2025 from $67.2M in 2024, primarily due to discontinuation of the SL-172154 program and workforce reductions.
- Raised $21.4M in gross proceeds in Q1 2026 through at-the-market stock sales, increasing cash and short-term investments to $94.5M as of February 28, 2026.
- Cash runway now expected to fund operations into 2029, based on current plans and including proceeds from warrant exercises.
- Phase 1 data for SL-325 expected in Q2 2026; Phase 2 trial in Crohn’s disease anticipated to start in Q3 2026.
Financial Impact
Reduced annual net loss by $26.6 million YoY; raised $21.4 million in early 2026, improving liquidity. R&D spend cut nearly in half.
Risk Factors
- Clinical development risk: SL-325 data in Q2 2026 may not meet safety or pharmacokinetic expectations.
- Dilution risk: ATM offering and potential future financings could further dilute shareholders.
- Forward-looking statements: Much of the positive outlook (e.g., 2029 runway, trial timelines) is contingent on assumptions that may not materialize.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3249960 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 11, 2026 11w ago | 8-K | $7.18 $7.45 | ▲ +3.76% | ▲ +4.16% | $5.54 (−22.84%) |
Aug 11, 2026 11w 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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