Shattuck Labs reported a net loss of $16.7 million for the third quarter of 2024, representing a 40% narrowing of the loss compared to the same period in the prior year. This financial update was accompanied by a strategic announcement regarding the company's lead development focus.
The company announced the development of SL-325, a first-in-class antagonist antibody targeting DR3, the receptor for TL1A, with an Investigational New Drug (IND) filing expected in the third quarter of 2025. This marks a significant pivot in Shattuck's pipeline strategy towards inflammatory and immune-mediated diseases.
As of September 30, 2024, Shattuck Labs held approximately $90.1 million in cash and cash equivalents and investments. Management believes this capital is sufficient to fund planned operations into 2027, extending beyond the anticipated results from its Phase 1 clinical trial of SL-325.
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