AUSTIN, TX and DURHAM, NC — August 14, 2025 — Leads & Copy — Shattuck Labs, Inc. (NASDAQ: STTK) reported its financial results for the second quarter ended June 30, 2025, and provided recent business highlights. The company’s Investigational New Drug (IND) application to evaluate SL-325 in a Phase 1 clinical trial in healthy volunteers is expected to be cleared in Q3 2025. The company anticipates dosing the first participant in the Phase 1 clinical trial for SL-325 in Q3 2025. Shattuck Labs had a cash balance of approximately $50.5 million at the end of Q2 2025. The aggregate proceeds from a recent oversubscribed private placement of up to $103 million are expected to fund operations into 2029.
Taylor Schreiber, M.D., Ph.D., Chief Executive Officer of Shattuck, said the second quarter was productive as the company prepared and submitted an IND application to the U.S. Food & Drug Administration (FDA). Enrollment in the Phase 1 clinical trial is expected to begin later this quarter, subject to regulatory alignment, with completion anticipated during the second quarter of 2026. Following the recent private placement, the company is positioned to transition into multiple Phase 2 clinical trials for its lead asset, SL-325.
Shattuck participated in the 24th Annual Needham Virtual Healthcare Conference on April 9, 2025, and the Leerink Partners Therapeutics Forum: I&I and Metabolism on July 8, 2025. The company plans to attend the H.C. Wainwright 27th Annual Global Investment Conference from September 8-10, 2025.
R&D expenses were $8.7 million for the quarter ended June 30, 2025, compared to $19.2 million for the quarter ended June 30, 2024. G&A expenses were $4.4 million for the quarter ended June 30, 2025, compared to $5.3 million for the quarter ended June 30, 2024. Net loss was $12.5 million for the quarter ended June 30, 2025, or $0.24 per basic and diluted share, compared to a net loss of $21.6 million for the quarter ended June 30, 2024, or $0.42 per basic and diluted share.
As of June 30, 2025, cash and cash equivalents were approximately $50.5 million, which does not include the anticipated net proceeds from the private placement announced on August 5, 2025. The company expects the total anticipated proceeds from the oversubscribed private placement of up to approximately $103 million, combined with current cash and cash equivalents, to fund operations into 2029. Shattuck intends to use the anticipated net proceeds for the clinical development of SL-325 and for general corporate purposes.
SL-325 is a potential first-in-class Death Receptor 3 (DR3) blocking antibody designed to achieve a complete and durable blockade of the clinically validated DR3/TL1A pathway. Shattuck expects to commence a Phase 1 clinical trial in healthy volunteers in the third quarter of 2025.
Contact: Conor Richardson, Vice President of Investor Relations, Shattuck Labs, Inc., InvestorRelations@shattucklabs.com
Source: Shattuck Labs, Inc.
