Shattuck Labs reported a narrowed net loss for the fourth quarter of 2025 as it transitioned its focus toward the SL-325 DR3 blocking antibody program. The company significantly reduced R&D expenses following the discontinuation of the SL-172154 program and strengthened its balance sheet through early 2026 capital markets activity, extending its cash runway into 2029.
Phase 1 clinical trial of lead candidate SL-325 is nearly complete, with data expected in Q2 2026.
Net loss narrowed to $12.6 million in Q4 2025 compared to $18.7 million in Q4 2024.
R&D expenses decreased by 41% year-over-year in Q4 due to pipeline prioritization and workforce reductions.
Cash runway is projected to last into 2029, supported by $21.4 million in gross proceeds from ATM sales in early 2026.
Shattuck Labs expects its current capital to fund operations into 2029, assuming full exercise of outstanding warrants and including recent ATM proceeds.
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