Shattuck Labs Q2 2026: Cash Runway into 2029, Phase 2b Crohn's Trial Set for Q3 Launch
STTK has more than doubled off its 52-week low of $0.712.
Summary
Shattuck Labs reported a $15.2M net loss for Q2 2026, while $208.3M in cash extends the runway into 2029. The Phase 2b trial for lead asset SL-325 in Crohn's disease is on track to begin in Q3 2026, backed by positive Phase 1 data.
Key Events · Earnings and Guidance · STTK
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Cash Runway Extended to 2029
Cash and equivalents of $208.3M as of June 30, 2026, expected to fund operations into 2029, removing near-term financing overhang.
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Phase 2b Crohn's Trial on Track
RECEPTIVE-CD1 Phase 2b trial of SL-325 in Crohn's disease expected to initiate in Q3 2026, with primary endpoint data in H1 2028.
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Positive Phase 1 SL-325 Data
SL-325 showed a 3.7% anti-drug antibody rate and durable DR3 blockade >3 months at doses ≥1 mg/kg, supporting quarterly dosing.
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New Bispecific Candidate SL-846
SL-846, a DR3 x IL-23R bispecific, is in IND-enabling studies; Phase 1 data expected in 2027.
Analysis · STTK · Life Sciences
Shattuck Labs posted a net loss of $15.2 million for Q2 2026, but the standout is a fortified balance sheet—$208.3 million in cash and equivalents, which is expected to fund operations into 2029. That removes any near-term dilution overhang and provides a clear runway to Phase 2b data for SL-325 in Crohn's disease. The Phase 1 profile for SL-325 is encouraging: only 3.7% of patients developed anti-drug antibodies, and durable target engagement supports quarterly dosing. With the pivotal trial starting this quarter and a new bispecific, SL-846, entering the clinic next year, the pipeline is advancing on solid financial footing.
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 positive market sentiment and an importance score of 7 out of 10.