AUSTIN, TX and DURHAM, NC - Shattuck Labs, Inc. (NASDAQ: STTK), a $57.8 million market cap biotechnology company focused on developing therapies for inflammatory and immune-related diseases, announced significant progress in its DR3 blocking antibody program, SL-325, and outlined key milestones for 2025. The company's stock has shown significant volatility, having declined nearly 67% over the past six months while recently showing signs of recovery with a 9% gain in the past week. InvestingPro analysis suggests the stock is currently trading below its Fair Value, with additional insights available to subscribers.
CEO Taylor Schreiber expressed confidence in the potential of SL-325 to effectively block the DR3/TL1A signaling pathway, with preclinical studies in non-human primates supporting this optimism. Shattuck anticipates presenting its findings at the European Crohn’s and Colitis Organization Congress.
The company expects to initiate a Phase 1 clinical trial for SL-325 later in the year and has projected its current financial resources to support operations into 2027.
In the first quarter of 2025, Shattuck plans to release data from a GLP toxicology study of SL-325 in non-human primates. Subsequently, an Investigational New Drug (IND) filing and the start of the Phase 1 clinical trial are slated for the third quarter. The second half of the year is set to see the nomination of lead DR3 bispecific development candidates.
Additional updates include Shattuck's participation in the Crohn’s and Colitis Congress in February, with an abstract accepted for poster presentation, and an oral presentation at the 20th European Crohn’s and Colitis Organization Congress later that month.
Furthermore, Shattuck will present at the 43rd Annual J.P. Morgan Healthcare Conference on January 16, 2025, where investors can also schedule one-on-one meetings.
Financially, Shattuck reported $90.1 million in cash and cash equivalents as of September 30, 2024. While the company maintains a strong current ratio of 7.96 and holds more cash than debt, InvestingPro data indicates the company is burning through cash rapidly with negative free cash flow of $62.6 million in the last twelve months. These funds are expected to sustain the company's planned operations well beyond the initial clinical trial phase of SL-325. Subscribers to InvestingPro can access 11 additional financial health indicators and expert analysis.
SL-325 is designed as a first-in-class antibody to block the TL1A/DR3 pathway more completely than existing TL1A antibodies. The company's preclinical studies have shown promising results, justifying the targeting of the TNF receptor DR3 over its ligand, TL1A. With three analysts recently revising their earnings estimates upward for the upcoming period, market sentiment appears cautiously optimistic about the company's prospects.
Shattuck Labs, with facilities in Austin, Texas, and Durham, North Carolina, specializes in the development of novel therapeutics for autoimmune and inflammatory diseases. This press release statement serves as the basis for the information provided.
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