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Shattuck Labs, Inc. has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing includes financial statements for the quarter, showing collaboration revenue of $2,997,000, an increase from $686,000 in the same quarter the previous year. This increase is attributed to research activities conducted under the Ono Agreement and the recognition of a $2 million option fee.
Research and development expenses decreased to $16,313,000 from $24,211,000 in the same quarter the previous year. This decrease was primarily due to reduced costs related to the SL-172154 program and pipeline research.
General and administrative expenses were $4,604,000, down from $5,073,000 in the previous year, reflecting a decrease in employee-related costs.
The company reported a net loss of $16,675,000 for the quarter, compared to a net loss of $27,541,000 in the previous year. The reduction in net loss was primarily due to increased revenue and decreased operating expenses.
Cash used in operating activities was $43,145,000, while cash used in investing activities was $39,511,000. Cash provided by financing activities was $859,000.
As of September 30, 2024, Shattuck Labs had $111,720,000 in total assets and $15,143,000 in total liabilities, with stockholders’ equity of $96,577,000.
The company continues to focus on the development of its lead product candidate, SL-325, and its DR3 antagonist program, while discontinuing the SL-172154 program.
Shattuck Labs anticipates the need for additional funding to continue its operations and development programs, and it is exploring various options for raising capital.
The filing also details potential risks related to the development and commercialization of its product candidates, including regulatory challenges and competition.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Shattuck Labs Inc. quarterly 10-Q report dated November 14, 2024. To report an error, please email earnings@qz.com.