Shattuck Labs ( (STTK) ) just unveiled an announcement.
Don’t Miss TipRanks’ Half-Year Sale
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Shattuck Labs, Inc. has decided to terminate its collaboration with Ono Pharmaceutical and discontinue the clinical program for SL-172154, redirecting focus to SL-325, a promising DR3 antagonist antibody targeting the TL1A/DR3 signaling pathway with potential use in treating inflammatory bowel disease. This strategic shift follows modest improvements in overall survival for patients treated with SL-172154. The company is undergoing a significant restructuring, which includes a 40% workforce reduction and anticipates incurring restructuring charges, primarily related to severance costs. Despite these changes, Shattuck projects sufficient funds to support operations into 2027.
For detailed information about STTK stock, go to TipRanks’ Stock Analysis page.