STTK · Shattuck Labs, Inc.

Shattuck Labs reported its first quarter 2026 financial results, highlighting a net loss of $14.8 million, or $0.13 per share, compared to a net loss of $13.7 million, or $0.27 per share, in the same period last year. The increase in net loss was driven by higher research and development (R&D) expenses, which rose to $10.9 million from $9.9 million, reflecting ongoing clinical activities for SL-325 and other pipeline programs. General and administrative expenses remained relatively flat at $4.6 million. The company ended the quarter with $90.4 million in cash and cash equivalents, up from $60.9 million a year earlier, and no short-term investments. Management expects current cash, assuming full exercise of outstanding warrants, to fund operations into 2029. Operationally, the key highlight is the completion of enrollment in the Phase 1 trial of SL-325, a DR3 blocking antibody for inflammatory diseases. Data from all cohorts is expected in the second quarter of 2026, with a Phase 2 trial in Crohn's disease anticipated to start in the third quarter. Additionally, the company's lead bispecific antibody has entered IND-enabling activities, with target disclosure and preclinical data expected in Q2 2026. These milestones underscore the company's progress in advancing its pipeline, though the lack of revenue and increasing R&D costs remain key investor considerations.