Loading...
Shattuck Labs Q1 2025 Earnings Report
Shattuck Labs reported its first quarter 2025 financial results, highlighting progress in its SL-325 program and maintaining a strong cash position.
Key Takeaways
Shattuck Labs reported a net loss of $13.7 million for Q1 2025, an improvement from the $18.5 million loss in Q1 2024. The company's cash and cash equivalents stood at $60.9 million, expected to fund operations into 2027. Key developments include the advancement of the SL-325 program with an IND filing expected in Q3 2025.
Shattuck Labs reported a net loss of $13.7 million for the first quarter of 2025, compared to $18.5 million for the same period in 2024.
Cash and cash equivalents were approximately $60.9 million as of March 31, 2025, with operations expected to be funded into 2027.
The SL-325 program is on track for an IND filing in the third quarter of 2025, with the first patient in the Phase 1 clinical trial expected in the same quarter.
Research and Development expenses decreased to $9.9 million in Q1 2025 from $16.3 million in Q1 2024, reflecting the completion of wind-down activities for discontinued oncology programs.
Shattuck Labs
Shattuck Labs
Forward Guidance
Shattuck Labs expects its current cash and cash equivalents to fund operations into 2027, beyond the results from its Phase 1 clinical trial for SL-325. The company anticipates an IND filing for SL-325 in Q3 2025 and expects to nominate a lead bispecific candidate from its preclinical pipeline in 2025.
Positive Outlook
- IND filing for SL-325 expected in the third quarter of 2025.
- First patient in for the SAD portion of the Phase 1 clinical trial for SL-325 expected in the third quarter of 2025.
- Phase 1 enrollment completion for SL-325 expected in the second quarter of 2026.
- Company expects to nominate a lead bispecific candidate from its preclinical pipeline in 2025.
- Cash balance of approximately $60.9 million as of March 31, 2025, expected to fund operations into 2027.
Challenges Ahead
- Guidance excludes any additional capital that may be received.
- Guidance excludes proceeds from business development transactions.
- Guidance excludes additional costs associated with clinical development activities that may be undertaken.
- Actual results could be materially different from forward-looking statements due to various risks and uncertainties.
- The unpredictable relationship between preclinical study results and clinical study results could impact outcomes.