Shattuck Labs, Inc.

Listed Company

STTKCIK 0001680367NasdaqNon-AcceleratedSmaller ReportingPharmaceutical PreparationsDelawareFY ends Dec 31

Period

FY 2025

Revenue

$1.00M

Net Income

$-48.81M

Total Assets

$91.03M

Equity

$82.39M

Shares Out

71.56M

Op. Cash Flow

$-39.88M

Business

Shattuck Labs, Inc. is a biotechnology company developing therapeutics for inflammatory and immune-mediated diseases, centered on a first‑in‑class DR3 antagonist antibody program. Its primary product candidates include SL‑325, a high‑affinity DR3‑blocking monoclonal antibody, SL‑425 (a half‑life extended variant), DR3‑based bispecific antibodies and a TRIM7 small‑molecule oncology program. The company operates research and development, preclinical and clinical development, and manufacturing oversight functions, and engages in collaborations and licensing. It conducts clinical development primarily in the United States and other regulatory jurisdictions while relying on third‑party CROs and contract manufacturers for trials and production.

Summary from filing dated 2025-03-27

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total revenue	1	6	2	652,000	30
Research and development	35	67	74	83	57
General and administrative	17	19	19	21	19
Expense from operations	53	86	94	104	75
Loss from operations	−52	−81	−92	−103	−45
Interest income	3	5	5	2	625,000
Other expense	−4,000	−17,000	−10,000	−208,000	−330,000
Total other income	3	5	5	1	295,000
Net loss	−49	−75	−87	−102	−45
Unrealized gain (loss) on investments	4,000	−2,000	881,000	—	—
Comprehensive loss	−49	−75	−86	−102	−45
Net loss per share basic (in dollars per share)	−0.7	−1.49	−2.05	−2.41	−1.07
Net loss per share diluted (in dollars per share)	−0.7	−1.49	−2.05	−2.41	−1.07
Weighted-average shares outstanding - basic (in shares)	70	51	43	42	42
Weighted-average shares outstanding - diluted (in shares)	70	51	43	42	42

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	54	57	126	47	92
Investments	24	16	5	—	—
Prepaid expenses and other current assets	4	6	13	23	19
Total current assets	82	79	143	185	288
Property and equipment, net	6	10	14	18	10
Investment in related party	1	0	—	—	—
Other assets	1	2	3	3	381,000
Total assets	91	91	160	205	299
Accounts payable	2	2	2	7	10
Accrued expenses and other current liabilities	5	6	10	18	15
Total current liabilities	7	9	11	25	25
Non-current operating lease liabilities	2	3	3	4	0
Total liabilities	9	11	15	29	27
Commitments and contingencies (Note 7)	—	—	—	—	—
Common stock, $0.0001 par value: 300,000,000 shares authorized, 63,279,843 shares issued and outstanding at December 31, 2025 and 47,714,708 shares issued and outstanding at December 31, 2024	7,000	5,000	5,000	5,000	5,000
Additional paid-in capital	513	461	451	396	389
Accumulated other comprehensive income	6,000	2,000	4,000	−877,000	−560,000
Accumulated deficit	−431	−382	−306	−219	−117
Total stockholders equity	82	80	145	176	272
Total liabilities and stockholders equity	91	91	160	205	299

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Stock-based compensation	7	10	7	6	5
Depreciation	4	4	4	3	1
Non-cash operating lease expense	506,000	428,000	364,000	302,000	0
Impairment loss of fixed assets	81,000	222,000	—	—	—
Non-cash license revenue	−1	0	—	—	—
Net amortization of investments	−453,000	−2	−1	1	3
Gain on lease modification	−100,000	0	—	—	—
Prepaid expenses and other current assets	2	6	10	−4	−9
Other assets	79,000	90,000	165,000	−53,000	−32,000
Accounts payable	−318,000	832,000	−6	−3	8
Accrued expenses and other current liabilities	−1	−3	−8	3	7
Non-current operating lease liabilities	−922,000	−900,000	−796,000	−702,000	0
Net cash used in operating activities	−40	−61	−81	−94	−57
Sales and maturities of investments	36	85	191	193	202
Purchases of investments	−43	−94	−80	−132	−204
Purchase of property and equipment	−71,000	−59,000	−407,000	−12	−8
Net cash used in investing activities	−8	−9	111	49	−10
Proceeds from sale of common stock, pre-funded warrants and common stock warrants, net of offering costs	44	—	48	0	—
Proceeds from sale of common stock, pre-funded warrants and common stock warrants, net of offering costs	—	−17,000	—	—	—
Proceeds from the exercise of common stock warrants	139,000	0	—	—	—
Proceeds from the exercises of stock options and purchases pursuant to employee stock purchase plan	25,000	1	499,000	171,000	2
Taxes paid related to net share settlement of equity awards	−65,000	−451,000	−53,000	0	—
Net cash provided by financing activities	45	787,000	49	171,000	2
Decrease in cash and cash equivalents	−3	−68	78	−45	−66

Filings

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