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what it is
Shattuck Labs is a biotech company trying to turn early-stage immune disease drug research into an approved medicine.
how it gets paid
Last year Shattuck Labs made $1M in revenue. collaboration revenue was the main engine at $0.55M, or 55% of sales.
why growth slowed
Revenue fell 82.5% last year. The number that mattered was $1 million in Revenue because it shows the company still does not have a real operating business to support.
what just happened
Revenue was $1M and EPS was -$0.62, which keeps the story centered on pipeline progress, not sales.
At a glance
C++ balance sheet — some cracks in the foundation
55/100 earnings predictability — expect surprises
-$1.49 fy2024 eps est
$6M fy2024 rev est
n/a operating margin
xvary composite: 40/100 — below average
What they do
Shattuck Labs is a biotech company trying to turn early-stage immune disease drug research into an approved medicine.
The moat is thin today. The edge is focus: just 44 employees and only $2 million of long-term debt, which is 0% of capital. Protein engineering → designing custom drug molecules → so what: if SL-325 works, you own a company built around one lead idea instead of a sprawling lab empire.
How they make money
$1M
annual revenue · their business grew -82.5% last year
collaboration revenue
$0.55M
82.5%
license and option revenue
$0.20M
flat
research support revenue
$0.15M
flat
other operating revenue
$0.10M
flat
The products that matter
phase 1 inflammatory bowel disease candidate
SL-325
only clinical program · post-2025 reset
SL-325 is the story now. It became the only clinical program after the 2025 oncology exit, and it sits inside a company with $78.1M in cash, $0 quarterly revenue, and a $429M market cap.
one asset
Key numbers
n/a
operating margin
Prior margin KPI failed sanity check — verify in filings. Operating margin → profit after running the business → so what: Shattuck lost about $51.5 for every $1 of revenue, which tells you revenue is currently almost irrelevant.
-$1.49
FY2024 EPS est.
EPS → profit per share → so what: the full-year estimate still points to a loss, though it improved from -$2.05 in 2023 and -$2.41 in 2022.
$2M
long-term debt
Long-term debt → money owed over years → so what: debt is low at 0% of capital, so dilution is the cleaner financing risk.
44
employees
Headcount → number of people on payroll → so what: this is a very small operation trying to justify a roughly $429 million market cap.
Financial health
C++
strength
- balance sheet grade C++ — below average — limited financial resources
- risk rank 4 — safer than 20% of stocks
- price stability 5 / 100
- long-term debt $2M (0% of capital)
C++ — below average. watch for debt servicing and cash burn.
Total return vs. market
Return history isn't available for STTK right now.
source: institutional data · return history unavailable
What just happened
missed estimates
Revenue was $1M and EPS was -$0.62, which keeps the story centered on pipeline progress, not sales.
Quarterly revenue was flat vs. prior year at $1 million, while EPS worsened to -$0.62. The quiet part out loud: the company is still being priced on future trial outcomes, not current business traction.
$1M
revenue
-$0.62
eps
n/a
n/a
the number that mattered
The number that mattered was $1 million in quarterly revenue because it shows the company still does not have a real operating business to support itself.
source: company earnings report, 2026
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What could go wrong
the top risk is phase 1 failure or weak readthrough for SL-325 after the 2025 reset.
med
SL-325 fails or looks inconclusive
There is one clinical asset and it is still in Phase 1. If the early signal is weak, the company does not have a second program to absorb the hit.
At a $429M market cap with $78.1M in cash, about $351M of value sits above cash. That premium has one job: prove the asset works.
med
Cash burn forces dilution before proof arrives
Q4 revenue was $0, annual revenue was $1M, and the business still exists to fund research. In plain English: the balance sheet pays the bills until data does.
If cash keeps falling before the program earns credibility, new equity would likely arrive before the story gets stronger. Existing holders would fund the wait.
med
The 2025 pivot reset management credibility
Management already changed the story once after oncology programs stalled. Investors are not only judging the new molecule. They are judging whether this team deserves a second underwriting of trust.
A second strategy reset would tell you prior R&D spend did not build a durable pipeline and that value moved farther into the future again.
med
There is no operating business to cushion bad news
Some biotech names at least have licensing income or more than one shot on goal. Here, quarterly revenue was $0 and annual revenue was $1M.
A bad update hits the narrative and the valuation at the same time because there is no sales base underneath to soften it.
With $0 quarterly revenue, $78.1M in cash, and one Phase 1 asset, this risk picture is concentrated rather than diversified. Almost everything comes down to whether SL-325 earns belief before the balance sheet needs help.
source: institutional data · regulatory filings · risk analysis
Pay attention to
clinical
the next SL-325 Phase 1 update
This is the real catalyst. Without a useful clinical signal, the stock stays a theory with a ticker.
balance sheet
cash relative to the current $78.1M base
Cash is runway in biotech. If it drops fast while data stays thin, financing risk moves from background issue to main event.
funding
any capital raise before the new story earns proof
A raise is not always bad, but timing tells you a lot. Before proof-of-concept, it usually means the runway is less comfortable than it looked.
street view
whether analyst optimism turns into conviction
Citigroup moved to a $7 target and stayed Neutral. The next thing to watch is not the target alone. It is whether ratings strengthen as data arrives.
Analyst rankings
earnings predictability
55 / 100
in human-speak, analysts do not have a steady operating business to model here, so surprises are normal.
beta
0.9
Beta measures how much a stock tends to move versus the market. A 0.9 beta looks tame, but one-trial biotech risk does not fit neatly inside that number.
xvary composite
40 / 100
That score reflects the core problem: you are being asked to value a Phase 1 asset more than a current business.
source: institutional data
Institutional activity
institutional ownership data for STTK is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$3
current price
n/a
target midpoint · n/a from current
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