Summary by Moomoo AI
On May 2, 2024, Shattuck Labs, Inc., a clinical-stage biotechnology company, reported its financial results for the first quarter ending March 31, 2024. The company, which specializes in developing bi-functional fusion proteins for cancer and autoimmune disease treatment, announced rapid enrollment in the expanded TP53 mutant Acute Myeloid Leukemia cohort and plans to initiate enrollment for a randomized cohort in Higher-Risk Myelodysplastic Syndromes in Q2 2024. Shattuck also presented preclinical data at the AACR Annual Meeting, highlighting the potential of TRIM7 inhibition in overcoming resistance to immune checkpoint therapy. Financially, Shattuck reported a decrease in net loss to $18.5 million for Q1 2024 from $20.7 million in Q1 2023, with cash and investments totaling $114.6 million, which is expected to fund operations into 2026. The company also appointed two new members to its Board of Directors and continued to advance its pre-clinical pipeline, including a strategic collaboration with Ono Pharmaceutical for autoimmune and inflammatory diseases.