Shattuck Labs, a clinical stage biotechnology company, delivered a lower-than-expected 4Q loss. The company is developing bi-functional fusion proteins for treating patients suffering from cancer and autoimmune diseases.
Shattuck Labs’ (STTK) collaboration revenue decreased 52.5% year-over-year to $1.34 million and lagged analysts’ estimates by $0.06 million.
The company’s total operating expenses increased to $13.4 million, from $10.5 million in the year-ago period.
Despite this increase, Shattuck reported a loss per share of $0.31 in 4Q, compared to a loss per share of $0.97 in the year-ago period, and beat analysts’ estimates of a net loss per share of $0.39. This decrease was attributable to an increase in the company’s outstanding shares, with the figure moving from about 7.6 million in 4Q19 to 38.8 million in 4Q20.
The company’s CEO Taylor Schreiber, M.D., Ph.D., said, “We look forward to the Phase 1 data releases in the second half of this year for SL-172154 in patients with ovarian cancer and for SL-279252 in patients with advanced solid tumors.” (See Shattuck Labs stock analysis on TipRanks)
Schreiber further added, “We are on track to file an Investigational New Drug Application in 2021 and to announce the lead candidate from our Gamma Delta T Cell Engager (GADLEN) platform. This is an exciting time for Shattuck and all of our stakeholders, and we believe that we are poised for years of clinical progress and expansion.”
Looking ahead, the company believes its cash position is sufficient to fund operations through 2024.
Recently, Citigroup analyst Mohit Bansal reiterated a Buy rating on the stock with a price target of $75 (96.34% upside potential). The other analyst covering the stock also gives it a Buy rating. Shares have declined 14.7% over the past month.
Shattuck scores a 4 out of 10 from TipRanks’ Smart Score rating system, indicating that the stock may perform in line with the broader market.
International Seaways Reports Larger-Than-Expected Quarterly Loss; Shares Slide 3%
Aegion Gets New Buyout Offer For An Undisclosed Sum; Shares Pop 12.4%
Sesen Bio’s Quarterly Loss Meet Analysts’ Expectations