The company's lead asset SL-325 is being advanced through multiple Phase 2 clinical trials focusing on Inflammatory Bowel Disease (IBD). Shattuck closed a private placement of up to $103 million in August 2025 expected to fund operations into 2029. The company is strategically positioned in the high-potential TNF superfamily receptor pathway with experienced leadership additions from J&J/Janssen and OrbiMed.
Cyborg Score Rationale
The company achieved IND clearance for SL-325 in August 2025 with first participants dosed in Phase 1 in Q3 2025, with enrollment expected complete by Q2 2026 and initial data expected by Q2 2026. Strong capital position through 2029 and clinical validation of target mechanism support near-term newsflow. However, early-stage clinical status with unproven efficacy remains a key risk.
Top Insights
IND effective for SL-325 (August 2025) with Phase 1 enrollment on track for Q2 2026 data readout
Well-capitalized through 2029 with $86.1M cash post-private placement; net loss narrowing ($10.1M in Q3 2025)
Lead drug addresses large IBD market with first-in-class DR3 antagonist positioning and bispecific pipeline extension