In This Story
Shattuck Labs Inc. (STTK-8.40%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing details the company's focus on developing SL-325, a potential first-in-class antibody for inflammatory bowel disease and other inflammatory and immune-mediated diseases. SL-325 is designed to block the DR3/TL1A pathway, which is implicated in inflammatory conditions.
Shattuck Labs reported a net loss of $75.4 million for the year, compared to a net loss of $87.3 million in the previous year. The decrease in net loss was primarily due to a reduction in research and development expenses.
Research and development expenses totaled $67.2 million, down from $74.3 million in 2023. This decrease was attributed to lower costs associated with the manufacture of clinical trial materials and a reduction in headcount.
General and administrative expenses were $19.1 million, slightly down from $19.3 million in the previous year, reflecting stable operational costs.
The company generated $5.7 million in collaboration revenue, primarily from agreements with Ono Pharmaceutical Co., Ltd. and ImmunoGen, Inc. The Ono agreement was terminated in September 2024, and no further revenue is expected from these collaborations.
Shattuck Labs ended the year with $73.0 million in cash and cash equivalents and investments, which the company believes is sufficient to fund operations into 2027.
The company highlighted its strategic focus on advancing SL-325 into clinical development, expecting to file an Investigational New Drug application in the third quarter of 2025.
Shattuck Labs also disclosed its discontinuation of the SL-172154 program, leading to a workforce reduction of approximately 40% and incurring $1.0 million in restructuring costs.
The filing notes that Shattuck Labs is exploring additional funding options to support its operations, including potential equity offerings and collaborations.
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. annual 10-K report dated March 27, 2025. To report an error, please email earnings@qz.com.