Shattuck Labs, Inc. (STTK): restructuring charge — Shattuck Labs discontinues SL-172154, cuts 40% workforce, pivots to DR3 antagonist SL-325

Shattuck Labs, Inc.

Discontinued SL-172154 after interim OS data showed only modest improvement vs azacitidine monotherapy in TP53m AML/HR-MDS.
Plans to focus on SL-325, a first-in-class DR3 antagonist antibody for IBD; IND filing expected Q3 2025.
Approximately 40% workforce reduction; expects restructuring charges of $1.5M-$1.75M in Q4 2024.
Cash runway extended into 2027, with $105.3M cash, cash equivalents and investments as of June 30, 2024.
Mutually terminated collaboration with Ono Pharmaceutical; no future reimbursements, milestones, or royalties.

Key facts

Extracted from this filing and checked against the source text.

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

Shattuck Labs, Inc. announced a restructuring with charges of between $1.5 million and $1.75 million affecting SL-172154 program (approximately 40% of Shattuck's workforce).

Type: restructuring
Charge: between $1.5 million and $1.75 million
Affected area: SL-172154 program
Headcount: approximately 40% of Shattuck's workforce

Exact text from the filing

On October 1, 2024, pursuant to previous authorization by the Board of Directors of the Company, an authorized officer of the Company approved a restructuring plan to prioritize the development of the Company’s DR3 program. The plan is intended to optimize the Company’s cost structure by aligning the size and structure of its workforce with the Company’s current goals and strategy. The organizational realignment includes discontinuing the Company’s SL-172154 program in view of overall survival data readouts from its studies in higher-risk myelodysplastic syndromes and acute myeloid leukemia. Approximately 40% of Shattuck’s workforce will be impacted by the changes. The Company expects to complete the reduction in force in the fourth quarter of 2024. As a result of these changes, the Company expects to incur restructuring charges between $1.5 million and $1.75 million, the majority of which are related to employee severance costs.

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Source: SEC EDGAR

accession 0001193125-24-229480

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