Shattuck Labs(US:STTK)2024-11-14 12:04Financial Performance - Cash and cash equivalents and investments as of September 30, 2024, were approximately $90.1 million, down from $101.1 million as of September 30, 2023, representing a decrease of about 10.0%[2] - The net loss for Q3 2024 was $16.7 million, or $0.33 per share, compared to a net loss of $27.5 million, or $0.65 per share, in Q3 2023, indicating an improvement of 39.5%[2] - Total assets as of September 30, 2024, were approximately $111.7 million, down from $159.6 million as of December 31, 2023, a decrease of about 30.0%[8] - Total liabilities as of September 30, 2024, were $15.1 million, slightly up from $14.9 million as of December 31, 2023[8] Expenses - Research and Development (R&D) expenses for Q3 2024 were $16.3 million, a decrease of 32.0% compared to $24.2 million in Q3 2023[2] - General and Administrative (G&A) expenses for Q3 2024 were $4.6 million, down from $5.1 million in Q3 2023, reflecting a reduction of approximately 9.8%[2] Strategic Initiatives - The company announced the development of SL-325, a first-in-class DR3 antagonist antibody, with an IND filing expected in Q3 2025[1] - The company has completed its restructuring plans to focus on SL-325 and has substantially reduced its workforce associated with the discontinuation of SL-172154[3] Future Outlook - Shattuck Labs expects its cash and cash equivalents to fund operations into 2027, based on current operational plans[3] - The company plans to participate in investor conferences, including the Piper Sandler & Co. 36th Annual Healthcare Conference from December 3-5, 2024[2]