Shattuck Labs Reports First Quarter 2026 Financial Results and Recent Business Highlights
Rhea-AI Summary
Shattuck Labs (NASDAQ: STTK) reported Q1 2026 results and program milestones on May 7, 2026. Cash and short-term investments were $90.4M as of March 31, 2026, up from $60.9M a year earlier. Q1 net loss was $14.8M (or $0.13 per share). Enrollment in the Phase 1 trial of SL-325 is complete; full Phase 1 data are expected in Q2 2026 and a Phase 2 trial in Crohn’s disease is planned for Q3 2026. The lead bispecific antibody has entered IND-enabling activities. Cash runway is expected into 2029 assuming full exercise of outstanding warrants.
Positive
- Cash and short-term investments of $90.4M as of March 31, 2026
- Phase 1 enrollment for SL-325 complete; full data expected in Q2 2026
- Phase 2 initiation for SL-325 in Crohn’s disease expected in Q3 2026
- Lead DR3-based bispecific antibody entered IND-enabling activities
Negative
- Reported Q1 net loss of $14.8M for quarter ended March 31, 2026
- Cash runway guidance assumes full exercise of outstanding warrants to fund operations into 2029
News Market Reaction – STTK
In the May 7 session, STTK declined 6.29%, reflecting a notable negative market reaction. Argus tracked a peak move of +9.3% during that session. Argus tracked a trough of -4.6% from its starting point during tracking. Our momentum scanner triggered 19 alerts that day, indicating notable trading interest and price volatility. Trading volume was very high at 3.1x the daily average, suggesting heavy selling pressure.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Previous Earnings Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Mar 05 | Q4 2025 earnings | Positive | +7.8% | Year-end 2025 results, reduced R&D and net loss, and stronger cash position. |
| Nov 06 | Q3 2025 earnings | Positive | +1.0% | Q3 2025 results plus IND clearance and dosing progress for SL-325. |
| Aug 14 | Q2 2025 earnings | Positive | +6.1% | Q2 2025 results, IND submission for SL-325, and large private placement. |
| May 01 | Q1 2025 earnings | Positive | -7.8% | Q1 2025 results with cost reductions and IND for SL-325 expected in Q3 2025. |
| Mar 27 | FY 2024 earnings | Positive | -3.4% | Full-year 2024 results, focus shift to SL-325, and runway into 2027. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Earnings updates have often led to positive reactions, though there are instances of selloffs on otherwise constructive reports.
Over the past year, Shattuck’s earnings releases have highlighted steady advancement of its DR3/TL1A platform and improving capital visibility. Prior updates on Aug 14, 2025, Nov 6, 2025, and Mar 5, 2026 combined clinical milestones for SL‑325 with strengthened cash positions and funding expected to support operations into 2029. Some earlier reports like Mar 27, 2025 and May 1, 2025 were followed by negative price reactions despite pipeline progress. Today’s Q1 2026 results continue this pattern of pairing development updates with detailed cash runway guidance.
Key Terms
pharmacokinetics medical
receptor occupancy medical
pharmacodynamics medical
immunogenicity medical
bispecific antibodies medical
tl1a medical
ind-enabling regulatory
AI-generated analysis. How Rhea-AI works. Not financial advice.
- Phase 1 clinical trial of SL-325 enrollment complete; data expected in the second quarter of 2026 –
- Phase 2 clinical trial of SL-325 in patients with Crohn’s disease expected to initiate in the third quarter of 2026 –
AUSTIN, Texas and DURHAM, N.C., May 07, 2026 (GLOBE NEWSWIRE) -- Shattuck Labs, Inc. (Shattuck or the Company) (NASDAQ: STTK), a clinical-stage biotechnology company pioneering the development of potential first-in-class monoclonal and bispecific DR3 blocking antibodies for the treatment of patients with inflammatory and immune-mediated diseases, today reported financial results for the first quarter ended March 31, 2026 and provided recent business highlights.
“We are pleased to have completed enrollment in our Phase 1 clinical trial of SL-325, and are looking forward to sharing a comprehensive data set on all single ascending dose and multiple ascending dose cohorts from this study in the second quarter of 2026, including safety and tolerability, pharmacokinetics, receptor occupancy, duration of receptor occupancy, pharmacodynamics, and immunogenicity data,” said Taylor Schreiber, M.D., Ph.D., Chief Executive Officer of Shattuck.
DR3 Program Development in 2026
Shattuck’s lead product candidate, SL-325, is a potentially first-in-class and best-in-mechanism DR3 blocking antibody for the treatment of Crohn’s disease, ulcerative colitis, and other inflammatory and immune-mediated diseases. Recent updates and anticipated upcoming milestones for SL-325, and Shattuck’s other DR3 blocking antibodies, include:
- The Phase 1 trial evaluating the safety, tolerability, immunogenicity, and pharmacokinetics (PK) of SL-325 in healthy volunteers is ongoing and will determine the recommended Phase 2 dose and dosing schedule.
- Enrollment of all six single-ascending dose cohorts and all three multiple-ascending dose cohorts of the trial is now complete, with participant follow-up, data collection, and data analysis ongoing.
- Shattuck plans to present safety and tolerability, PK, receptor occupancy, duration of receptor occupancy, pharmacodynamics, and immunogenicity data from this trial in the second quarter of 2026.
- Subject to positive Phase 1 data and regulatory alignment, Shattuck expects to initiate a Phase 2 clinical trial of SL-325 in patients with Crohn’s disease in the third quarter of 2026.
- Shattuck continues to develop multiple DR3-based bispecific antibodies. Shattuck’s lead bispecific antibody has entered IND-enabling activities. This bispecific antibody was designed to inhibit both the DR3/TL1A axis and another biologically relevant target for the treatment of patients with inflammatory and immune-mediated diseases. Shattuck plans to disclose the targets of its lead bispecific product candidate, supporting preclinical data, and expected development timelines in the second quarter of 2026.
Upcoming Events
- Shattuck plans to participate in the following upcoming event(s). Details will be included on the Events & Presentations section of the Company’s website.
- Leerink Partners Therapeutics Forum 2026 (Boston, MA), July 14-15, 2026. Management will participate in one-on-one meetings.
First Quarter 2026 Financial Results
- Cash and Cash Equivalents and Investments: As of March 31, 2026, cash and cash equivalents and short-term investments were
$90.4 million , as compared to$60.9 million as of March 31, 2025. - Research and Development (R&D) Expenses: R&D expenses were
$10.9 million for the quarter ended March 31, 2026, as compared to$9.9 million for the quarter ended March 31, 2025. - General and Administrative (G&A) Expenses: G&A expenses were
$4.6 million for the quarter ended March 31, 2026, as compared to$4.5 million for the quarter ended March 31, 2025. - Net Loss: Net loss was
$14.8 million for the quarter ended March 31, 2026, or$0.13 per basic and diluted share, as compared to a net loss of$13.7 million for the quarter ended March 31, 2025, or$0.27 per basic and diluted share.
Financial Guidance
As of March 31, 2026, cash and cash equivalents were approximately
About SL-325
SL-325 is a potential first-in-class Death Receptor 3 (DR3) blocking antibody designed to achieve a complete and durable blockade of the clinically validated DR3/TL1A pathway. Shattuck’s preclinical studies demonstrate high affinity binding and superior activity over TL1A antibodies, and offer a data-driven rationale for targeting the TNF receptor, DR3, versus its ligand, TL1A. SL-325 is a fully Fc-silenced, humanized immunoglobulin G monoclonal antibody with a favorable safety profile in non-human primates, currently being evaluated in a Phase 1 clinical trial.
About Shattuck Labs, Inc.
Shattuck Labs, Inc. is a clinical-stage biotechnology company pioneering the development of potentially first-in-class monoclonal and bispecific DR3 blocking antibodies for the treatment of patients with inflammatory and immune-mediated diseases. Shattuck’s expertise in protein engineering and the development of novel TNF receptor therapeutics come together in its lead program, SL-325, a potentially first-in-class DR3 antagonist antibody designed to achieve a more complete blockade of the clinically validated DR3/TL1A pathway. The Company has offices in both Austin, Texas and Durham, North Carolina. For more information, please visit: www.ShattuckLabs.com.
Forward-Looking Statements
Certain statements in this press release may constitute “forward-looking statements” within the meaning of the federal securities laws, including, but not limited to, Shattuck’s expectations regarding: plans for its preclinical studies, clinical trials and research and development programs, particularly with respect to SL-325; the anticipated timing of release of data from the Company’s ongoing Phase 1 clinical trial of SL-325; the anticipated timing of initiation of a Phase 2 clinical trial of SL-325 in patients with Crohn’s disease; the clinical benefit, safety and tolerability of SL-325; anticipated development of additional preclinical pipeline candidates; the timing of nomination, release of preclinical data and development timelines of a lead bispecific antibody candidate; and expectations regarding the time period over which the Company’s capital resources will be sufficient to fund its anticipated operations. Words such as “may,” “might,” “will,” “objective,” “intend,” “should,” “could,” “can,” “would,” “expect,” “believe,” “design,” “estimate,” “predict,” “potential,” “develop,” “plan” or the negative of these terms, and similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to it on the date of this release. These forward-looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties (including, without limitation, those set forth in Shattuck’s filings with the U.S. Securities and Exchange Commission (SEC)), many of which are beyond its control and subject to change. Actual results could be materially different. Risks and uncertainties include: global macroeconomic conditions and related volatility; expectations regarding the initiation, progress, and expected results of the Company’s preclinical studies, clinical trials and research and development programs; expectations regarding the timing, completion and outcome of the Company’s preclinical studies and clinical trials; the unpredictable relationship between preclinical study results and clinical study results; the timing or likelihood of regulatory filings and approvals; liquidity and capital resources, including the time period over which current capital resources are expected to the fund the Company’s operations; and other risks and uncertainties identified in Shattuck’s Annual Report on Form 10-K for the year ended December 31, 2025, and subsequent disclosure documents filed with the SEC. Shattuck claims the protection of the Safe Harbor contained in the Private Securities Litigation Reform Act of 1995 for forward-looking statements. The Company expressly disclaims any obligation to update or alter any statements whether as a result of new information, future events or otherwise, except as required by law.
The Company intends to use the investor relations portion of its website as a means of disclosing material non-public information and for complying with disclosure obligations under Regulation FD.
Investor & Media Contact:
Andrew Neill
Chief Financial Officer
Shattuck Labs, Inc.
InvestorRelations@shattucklabs.com
FINANCIAL INFORMATION
SHATTUCK LABS, INC.
CONDENSED BALANCE SHEETS
(unaudited)
(In thousands)
| March 31, 2026 | December 31, 2025 | |||||
| ASSETS | ||||||
| Current assets: | ||||||
| Cash and cash equivalents | $ | 90,419 | $ | 54,192 | ||
| Investments | — | 23,873 | ||||
| Prepaid expenses and other current assets | 3,334 | 4,410 | ||||
| Total current assets | 93,753 | 82,475 | ||||
| Property and equipment, net | 5,353 | 6,114 | ||||
| Investment in related party | 1,000 | 1,000 | ||||
| Other assets | 2,015 | 1,437 | ||||
| Total assets | $ | 102,121 | $ | 91,026 | ||
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||||||
| Current Liabilities: | ||||||
| Accounts payable | $ | 1,253 | $ | 2,101 | ||
| Accrued expenses | 2,996 | 4,951 | ||||
| Total current liabilities | 4,249 | 7,052 | ||||
| Non-current operating lease liabilities | 2,037 | 1,584 | ||||
| Total liabilities | 6,286 | 8,636 | ||||
| Commitments and contingencies (Note 5) | ||||||
| Stockholders' equity: | ||||||
| Common stock | 7 | 7 | ||||
| Additional paid in capital | 541,124 | 512,906 | ||||
| Accumulated other comprehensive income | — | 6 | ||||
| Accumulated deficit | (445,296 | ) | (430,529 | ) | ||
| Total stockholders' equity | 95,835 | 82,390 | ||||
| Total liabilities and stockholders' equity | $ | 102,121 | $ | 91,026 | ||
SHATTUCK LABS, INC.
CONDENSED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
(Unaudited)
(In thousands, except share and per share amounts)
| Three Months Ended March 31, | ||||||
| 2026 | 2025 | |||||
| Revenue | $ | — | $ | — | ||
| Operating expenses: | ||||||
| Research and development | 10,946 | 9,919 | ||||
| General and administrative | 4,599 | 4,470 | ||||
| Expense from operations | 15,545 | 14,389 | ||||
| Loss from operations | (15,545 | ) | (14,389 | ) | ||
| Other income (expense): | ||||||
| Interest income | 779 | 689 | ||||
| Other expense | (1 | ) | (2 | ) | ||
| Total other income | 778 | 687 | ||||
| Net loss | $ | (14,767 | ) | $ | (13,702 | ) |
| Unrealized loss on investments | (6 | ) | (2 | ) | ||
| Comprehensive loss | $ | (14,773 | ) | $ | (13,704 | ) |
| Net loss per share – basic and diluted | $ | (0.13 | ) | $ | (0.27 | ) |
| Weighted-average shares outstanding – basic and diluted | 112,234,551 | 50,965,815 | ||||
