Shattuck Labs(US:STTK)2023-11-10 19:45Financial Data and Key Metrics Changes - As of September 30, 2023, the company reported cash and cash equivalents and investments of $101.1 million [15] - Research and development expenses for Q3 2023 were $24.2 million, an increase from $18.9 million in Q3 2022 [15] - General and administrative expenses decreased to $5.1 million in Q3 2023 from $6.6 million in Q3 2022 [49] - The net loss for Q3 2023 was $27.5 million, or $0.65 per share, compared to a net loss of $24.6 million, or $0.58 per share, in Q3 2022 [49] Business Line Data and Key Metrics Changes - The ongoing Phase 1B trial of SL-172154 in combination with PLD for platinum-resistant ovarian cancer has enrolled 16 patients, with 11 being evaluable for efficacy [70][90] - In the Phase 1A/B trial for AML and higher-risk MDS, 37 patients have received SL-172154, with one complete response observed in a TP53 mutant higher-risk MDS patient [105][107] Market Data and Key Metrics Changes - The company is focusing on high unmet medical needs in the oncology space, particularly in AML and higher-risk MDS, where there is a significant opportunity for accelerated development [71] - The competitive landscape for CD47 inhibitors has evolved, with several agents facing challenges, which may provide an opportunity for SL-172154 to differentiate itself [110] Company Strategy and Development Direction - The company aims to leverage its unique mechanism of action with SL-172154, which combines CD47 inhibition with CD40 activation, to improve response rates and durability in patients [88][77] - There is a focus on completing enrollment in ongoing trials and presenting data at upcoming conferences, including the ASH Annual Meeting [16][50] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the financial position, stating that current cash reserves are sufficient to fund operations through the end of 2024 [93] - The management team is optimistic about the potential of SL-172154 to meet unmet medical needs and is encouraged by the early clinical data [101][77] Other Important Information - The company plans to present complete data from the dose escalation portion of the trial at the ASH meeting and share initial data from frontline cohorts [48][50] - The safety profile of SL-172154 has been acceptable, with infusion-related reactions being the most common adverse event [90] Q&A Session Summary Question: Can you provide more detail about the baseline characteristics of patients in the PROC study? - The majority of patients (88%) had failed frontline platinum-containing regimens, with 100% having received platinum and 56% having received bevacizumab [51] Question: What is the expected response rate for the PLD plus SL-172154 combination? - A response rate in excess of 25% in an all-comer PROC setting could be meaningful, especially if accompanied by a duration of response exceeding five months [140] Question: Are there plans to use biomarker analysis in the PLD combo trial? - The company is collecting various biomarker data to analyze differences in responders and nonresponders [60] Question: What are the expectations for the TP53 mutant AML cohort? - There is potential for an accelerated path if the complete response rate exceeds 40%, which would be a good indicator for duration of response [112] Question: How does SL-172154 compare to other CD47 inhibitors in terms of efficacy? - The company is looking to demonstrate the impact of CD40 ligand on efficacy in responding patients, especially in the context of evolving competition in the CD47 space [95]