Shattuck Labs Q2 2026: Cash Runway Extended into 2029, Phase 2b Crohn's Trial to Start in Q3
STTK has more than doubled off its 52-week low of $0.712.
Summary
Shattuck Labs' Q2 2026 report shows a widened loss but a cash runway extended into 2029, with the pivotal Phase 2b trial for its lead drug SL-325 set to start in Q3 2026.
Key Events · Earnings and Guidance · STTK
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Cash Runway Extended into 2029
Cash and investments totaled $208.3 million as of June 30, 2026, following $153.8 million in financing activities during H1 2026, extending the projected runway into 2029.
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Net Loss Widens on Higher R&D
Net loss was $29.9 million for H1 2026 vs $26.2 million in H1 2025, driven by a $4.0 million increase in R&D expenses to $22.6 million, primarily for SL-325 and SL-846 clinical programs.
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Phase 2b Crohn's Trial to Start in Q3 2026
The RECEPTIVE-CD1 Phase 2b trial for SL-325 in Crohn's disease is expected to initiate in Q3 2026, with induction data anticipated in the first half of 2028.
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Director Adopts 10b5-1 Trading Plan
Director Neil Gibson adopted a Rule 10b5-1 trading plan on June 12, 2026, for the potential sale of up to 71,083 shares, expiring February 26, 2027.
Analysis · STTK · Life Sciences
A net loss of $29.9 million for the first half of 2026—up from $26.2 million a year ago—reflects the ramp in R&D spending behind lead programs SL-325 and SL-846. The company ended June with $208.3 million in cash and investments, enough to fund operations into 2029, a significant extension from prior guidance. The Phase 2b trial for SL-325 in Crohn's disease is on track to begin in the third quarter of 2026, with induction data expected in the first half of 2028. In a routine disclosure, a director also adopted a 10b5-1 trading plan for up to 71,083 shares.
At the time of this filing, STTK was trading at $7.00 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $645.3M. The 52-week trading range was $0.71 to $8.33. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.