Shattuck Labs, a clinical-stage biotechnology company, reported a net loss of $18.5 million for the first quarter ended March 31, 2024, compared to a net loss of $20.7 million for the same period in 2023. The company has not generated revenue from product sales, as it has no approved products on the market. However, collaboration revenue saw a significant increase to $1.1 million, up from $57,000 in the previous year, primarily due to a new agreement with Ono Pharmaceutical for the research and preclinical development of bifunctional fusion proteins. Research and development expenses slightly decreased to $16.26 million from $16.67 million year-on-year, while general and administrative expenses also saw a marginal decline. Shattuck Labs continues to focus on the development of its lead product candidate, SL...Show More

Shattuck Labs, a clinical-stage biotechnology company, reported a net loss of $18.5 million for the first quarter ended March 31, 2024, compared to a net loss of $20.7 million for the same period in 2023. The company has not generated revenue from product sales, as it has no approved products on the market. However, collaboration revenue saw a significant increase to $1.1 million, up from $57,000 in the previous year, primarily due to a new agreement with Ono Pharmaceutical for the research and preclinical development of bifunctional fusion proteins. Research and development expenses slightly decreased to $16.26 million from $16.67 million year-on-year, while general and administrative expenses also saw a marginal decline. Shattuck Labs continues to focus on the development of its lead product candidate, SL-172154, which is currently in Phase 1B clinical trials for ovarian cancer and certain hematologic malignancies. The company entered into a collaboration with Ono Pharmaceutical in February 2024, which could potentially bring in up to $217.5 million in milestone payments, in addition to royalties on commercial sales. Shattuck Labs expects to continue incurring significant expenses and operating losses as it advances the clinical development of SL-172154 and other product candidates.