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STTK

Shattuck Labs, Inc.

STTK

Shattuck Labs, Inc. • NASDAQ
$2.10 ▼ -1.41% (-0.03)
Market Cap $100.60 M
52w High $2.71
52w Low $0.69
Dividend Yield 0%
P/E -2.12
Volume 39.02K
Outstanding Shares 47.90M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $1M ▲ $11.716M ▼ $-10.056M ▲ -1.006K% ▼ $-0.14 ▲ $-9.139M ▲
Q2-2025 $0 $12.103M ▼ $-12.458M ▲ 0% $-0.24 ▲ $-11.529M ▲
Q1-2025 $0 $13.453M ▼ $-13.702M ▲ 0% $-0.27 ▲ $-13.453M ▲
Q4-2024 $0 ▼ $19.641M ▼ $-18.679M ▼ 0% ▲ $-0.37 ▼ $-18.701M ▼
Q3-2024 $2.997M $19.964M $-16.675M -556.39% $-0.33 $-16.967M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $42.548M ▼ $100.333M ▲ $7.093M ▼ $93.24M ▲
Q2-2025 $50.467M ▼ $64.371M ▼ $7.352M ▼ $57.019M ▼
Q1-2025 $60.898M ▼ $77.167M ▼ $9.581M ▼ $67.586M ▼
Q4-2024 $72.987M ▼ $91.049M ▼ $11.423M ▼ $79.626M ▼
Q3-2024 $90.058M $111.72M $15.143M $96.577M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-10.056M ▲ $-8.929M ▲ $-43.487M ▼ $44.497M ▲ $-7.919M ▲ $-9M ▲
Q2-2025 $-12.458M ▲ $-10.431M ▲ $0 ▼ $0 ▲ $-10.431M ▼ $-10.431M ▲
Q1-2025 $-13.702M ▲ $-12.032M ▲ $15.6M ▼ $-57K ▲ $3.511M ▼ $-12.032M ▲
Q4-2024 $-18.679M ▼ $-17.37M ▼ $31M ▲ $-72K ▼ $13.558M ▲ $-17.37M ▼
Q3-2024 $-16.675M $-16.066M $-821K $23K $-16.864M $-16.108M

Revenue by Products

Product Q2-2024Q3-2024Q4-2024Q3-2025
License
License
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Shattuck is essentially a pre‑revenue biotech company. Reported sales are negligible, so the income statement is driven almost entirely by research and development and overhead costs. That leads to steady operating and net losses each year. Losses grew as the pipeline was built out and then have begun to narrow more recently, but they are still substantial relative to the company’s size. This pattern is typical for an early‑stage biotech that has not yet brought a drug to market: the business is a cost center today, with any future profitability dependent on successful clinical results, partnering deals, or eventual product launches.

Balance Sheet

Balance Sheet The balance sheet is simple and relatively clean. Total assets are modest and dominated by cash and equivalents, with very little in the way of hard assets. The company has no financial debt, so it is funded almost entirely with shareholder equity, which reduces balance‑sheet risk but concentrates risk in dilution over time. Equity has declined as losses accumulate, but external capital raises and the stated cash runway into the later part of the decade help support operations for now. Overall, this is a typical early‑stage biotech balance sheet: cash‑heavy, debt‑free, and reliant on the capital markets to fund long development timelines.

Cash Flow

Cash Flow Cash flows show a consistent cash burn from operations, reflecting spending on clinical development, preclinical work, and corporate costs. Free cash flow is negative throughout the period, but the burn has been relatively controlled rather than sharply accelerating. Capital spending is very light, indicating an asset‑light model where most cash goes into people, trials, and research rather than buildings or equipment. The key financial question is how long existing and recently raised cash can sustain this burn while the company moves SL‑325 and other DR3 programs through the clinic.

Competitive Edge

Competitive Edge Competitively, Shattuck is trying to carve out a focused niche in autoimmune and inflammatory disease, particularly inflammatory bowel disease. Its main differentiator is the choice to target the DR3 receptor rather than the more commonly targeted TL1A ligand. If the science translates well in humans, this could offer a more complete and durable blockade of the pathway and a cleaner safety profile, which would be a meaningful edge. At the same time, the company is small and competing in a crowded field that includes much larger, well‑funded players developing TL1A‑directed drugs. Loss of a prior pharma collaboration underlines the challenge of sustaining partnerships. The competitive story will depend on whether clinical data can show clear advantages versus existing and emerging therapies.

Innovation and R&D

Innovation and R&D Innovation is the core of Shattuck’s value proposition. The company has pivoted from oncology to a tight focus on DR3 biology, with SL‑325 as a potentially first‑in‑class DR3‑blocking antibody and a follow‑on preclinical effort in DR3‑based bispecifics. The underlying strength is deep protein‑engineering know‑how built from its earlier platform work, which it is now redeploying into autoimmune disease. However, the pipeline is still early: SL‑325 is only entering first‑in‑human studies, and everything else is preclinical. That creates high scientific and development risk, especially because so much of the company’s future is tied to this one pathway and one lead asset. Execution in clinical design, safety, and differentiation will be critical.

Summary

Overall, Shattuck is a classic clinical‑stage biotech story: minimal revenue today, persistent losses, a cash‑heavy and debt‑free balance sheet, and a business model entirely driven by the success or failure of its R&D programs. Financially, the main positives are the clean balance sheet and extended cash runway; the main risks are ongoing cash burn and future dilution if more funding is needed. Strategically, the company’s bet on DR3 antagonism offers a clear scientific angle and potential first‑mover advantage, but it operates in a competitive arena with larger players and must still prove its concept in human trials. The company’s future will hinge on clinical outcomes for SL‑325, progress of its DR3 bispecifics, and its ability to secure and maintain value‑adding partnerships.

NEWS

November 20, 2025 · 8:00 AM UTC

Shattuck Labs to Participate in Upcoming December Investor Conferences

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November 6, 2025 · 4:30 PM UTC

Shattuck Labs Reports Third Quarter 2025 Financial Results and Recent Business Highlights

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October 2, 2025 · 7:51 AM UTC

Shattuck Labs Announces Participation in Upcoming Wedbush Securities Key Opinion Leader (KOL) and Company Panel

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