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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.
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.
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