Summary by Moomoo AI
On November 14, 2024, Shattuck Labs, Inc., a biotechnology company focused on developing novel therapeutics for cancer and chronic immune-related diseases, announced its financial results for the third quarter ended September 30, 2024. The company reported a net loss of $16.7 million, or $0.33 per share, a decrease from the net loss of $27.5 million, or $0.65 per share, in the same quarter of the previous year. Research and Development expenses decreased to $16.3 million from $24.2 million, while General and Administrative expenses also saw a reduction to $4.6 million from $5.1 million. The company's cash and cash equivalents and investments totaled approximately $90.1 million, which is expected to fund operations into 2027. Shattuck Labs also highlighted the development of SL-325, a first-in-class antagonist antibody to DR3, with an IND filing expected in Q3 2025. The company has completed a strategic restructuring to focus on the development of SL-325 and has substantially completed the associated reduction in force. Upcoming events include presentations at the Piper Sandler & Co. 36th Annual Healthcare Conference and the Evercore ISI 7th Annual HealthCONx Conference in December 2024.
