Analyst Joseph Pantginis of H.C. Wainwright reiterated a Buy rating on Shattuck Labs (STTK – Research Report), with a price target of $28.00.
Joseph Pantginis has given his Buy rating due to a combination of factors that indicate Shattuck Labs’ promising financial and clinical progress. Shattuck Labs has outperformed earnings per share (EPS) estimates for the fourth quarter and the full year of 2023, suggesting a strong financial position. Additionally, the company has secured a robust cash runway well into 2026, which is supported by a successful financing round in the fourth quarter of 2023. This financial stability provides a solid foundation for the continued advancement of their clinical programs.
Moreover, Pantginis’s optimism is bolstered by the ongoing clinical trials for Shattuck Labs’ ARC clinical candidate, SL-172154, which is currently being evaluated in various indications, including platinum-resistant ovarian cancer and myeloid malignancies. The expected release of objective response rates and duration of response data in mid-2024 represents significant upcoming milestones that could potentially validate the efficacy of SL-172154 and enhance its commercial prospects. Furthermore, the recent strategic collaboration with Ono Pharmaceutical to develop novel bi-functional fusion proteins represents a value-creating opportunity that includes financial incentives and strengthens Shattuck’s position in the biopharmaceutical field.
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Shattuck Labs (STTK) Company Description:
Shattuck Labs Inc is a clinical-stage biotechnology company pioneering the development of dual-sided fusion proteins as an entirely new class of biologic medicine. The company’s product candidate, SL-172154, has been rationally designed to simultaneously inhibit the CD47/SIRPa checkpoint interaction to restore an anti-tumor immune response and to activate the CD40 costimulatory receptor to bolster an immune response. Its product candidate, SL-279252, which is being developed in collaboration with Takeda Pharmaceuticals, or Takeda, has been rationally designed to simultaneously inhibit the PD-1/PD-L1 interaction and activate the OX40 receptor.
Read More on STTK:
- Shattuck Labs Reports Fourth Quarter and Full-Year 2023 Financial Results and Recent Business Highlights
- Shattuck Labs Announces Participation in Upcoming March Conferences
- Ono enters drug discovery pact, option agreement with Shattuck Labs
- 3 Best Stocks to Buy Now, 2/14/2024, According to Top Analysts
- Shattuck Labs Forms Drug Development Alliance with Ono Pharmaceutical
