Analyst Upgrade Boosts Shattuck On Confidence In Next-Gen Inflammatory Bowel Disease Therapy

Core Viewpoint - HC Wainwright upgraded Shattuck Labs Inc. from Neutral to Buy, forecasting a price of $6, driven by the potential of its lead product candidate SL-325 for inflammatory bowel disease (IBD) [1] Group 1: Product Development - Shattuck Labs has initiated dosing of the first healthy participants in the Phase 1 clinical trial for SL-325, with the single-ascending dose (SAD) portion expected to be completed by Q3 2025 [1] - Enrollment for both SAD and multiple-ascending dose (MAD) portions is anticipated to conclude in Q2 2026 [1] Group 2: Market Opportunity - Analyst Joseph Pantginis highlighted the opportunity for SL-325 to capture significant market share despite competition from later-stage programs that have established clinical proof-of-concept with the TL1A approach [2] - The TL1A/DR3 development landscape for IBD, including ulcerative colitis and Crohn's Disease, has attracted attention from major pharmaceutical companies, focusing primarily on the TL1A side [3] Group 3: Competitive Landscape - Leading late-stage TL1A programs include Merck & Co.'s tulisokibart and Roche Holdings' afimkibart, which have shown promising data, but concerns regarding durability of response and immunogenicity persist across the class [4] - Shattuck Labs aims to differentiate itself by targeting the DR3 receptor, which is expected to provide more durable inflammatory control compared to ligand-level inhibition [5][6] Group 4: Stock Performance - Following the upgrade, Shattuck Labs' stock (STTK) rose by 13.3%, reaching $2.38 [6]