Summary by Moomoo AI
Shattuck Labs, Inc., a clinical-stage biotechnology company, announced its financial results for the fourth quarter and full year ended December 31, 2023, on February 29, 2024. The company reported a net loss of $17.7 million for the quarter and $87.3 million for the full year. Despite the losses, Shattuck Labs highlighted several positive developments in its clinical trials, including promising data from the ongoing Phase 1A/B clinical trial of SL-172154 in combination with azacitidine for treating Higher-Risk Myelodysplastic Syndromes and Acute Myeloid Leukemia patients. The company also completed initial enrollment for Phase 1B dose-expansion cohorts and expects to provide updated data mid-year 2024. Additionally, Shattuck Labs entered into a strategic collaboration with Ono Pharmaceutical to develop novel bifunctional fusion proteins for autoimmune and inflammatory diseases and completed a $50 million offering of common stock and pre-funded warrants, extending its cash runway into 2026. The company's cash and cash equivalents and investments totaled $130.6 million as of December 31, 2023.