Shattuck Labs Completes Phase 1 Enrollment, Q1 Cash Grows to $90.4 Million
STTK•Shattuck Labs closed Q1 2026 with $90.4 million in cash and equivalents, up from $60.9 million a year earlier, funding operations into 2029. SL-325 Phase 1 enrollment is complete with data expected in Q2, Phase 2 Crohn’s trial slated for Q3, and its lead bispecific antibody enters IND-enabling activities.
1. First Quarter 2026 Financial Results
Shattuck Labs reported Q1 2026 cash and equivalents of $90.4 million, compared with $60.9 million a year prior. R&D expenses rose to $10.9 million from $9.9 million, G&A expenses were $4.6 million versus $4.5 million, and net loss widened to $14.8 million, or $0.13 per share.
2. SL-325 Clinical Progress and Phase 2 Plans
Enrollment in the Phase 1 SL-325 trial is complete across six single-ascending and three multiple-ascending dose cohorts. The company expects to present safety, tolerability, pharmacokinetics, receptor occupancy, pharmacodynamics, and immunogenicity data in the second quarter and plans a Phase 2 Crohn’s disease study in the third quarter, pending positive Phase 1 results.
3. Bispecific Antibody Program Advances
Shattuck’s lead bispecific DR3/TL1A antibody has entered IND-enabling activities. Details on target molecules, supporting preclinical data, and development timelines are slated for disclosure in the second quarter of 2026.
4. Cash Runway Guidance
With $90.4 million in cash and equivalents as of March 31, 2026, Shattuck’s current funds, assuming full exercise of outstanding warrants, are projected to support operations into 2029, excluding potential additional capital or transaction proceeds.
