Shattuck Labs' SL-325 Nears Phase 2, Raises $21.4M, T. Rowe Price Takes 10%+ Stake
Summary
Shattuck Labs announced significant progress for its lead drug candidate, SL-325, with its Phase 1 trial nearing completion and data expected in Q2 2026, followed by a planned Phase 2 initiation in Crohn's disease in Q3 2026. The company also reported raising $21.4 million through its at-the-market (ATM) offering in Q1 2026, and T. Rowe Price Investment Management, Inc. now holds over 10% beneficial ownership. This capital raise follows the $200M universal shelf registration and $75M ATM offering established in January 2026, indicating active utilization of its financing facilities. The advancement of SL-325 to Phase 2 is a critical de-risking event for a clinical-stage biotechnology company, providing clear upcoming catalysts. The capital infusion strengthens the balance sheet, extending its cash runway, which stood at $94.5 million as of February 28, 2026. The disclosure of T. Rowe Price's significant ownership stake signals strong institutional confidence. Investors will be closely watching for the Phase 1 data readout for SL-325 in Q2 2026 and the subsequent initiation of the Phase 2 trial in Q3 2026.
At the time of this announcement, STTK was trading at $4.61 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $299.3M. The 52-week trading range was $0.69 to $4.89. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: GlobeNewswire.