Shattuck Labs, Inc. (STTK) is planning to raise $150 million in an initial public offering on Friday, October 9th, IPO Scoop reports. The company will issue 10,000,000 shares at a price of $14.00-$16.00 per share.
In the last 12 months, Shattuck Labs, Inc. generated $10.8 million in revenue and had a net loss of $27.5 million. Shattuck Labs, Inc. has a market-cap of $571.2 million.
Citigroup, Cowen and Evercore ISI served as the underwriters for the IPO and Needham & Co. was co-manager.
Shattuck Labs, Inc. provided the following description of their company for its IPO: “We are an innovative clinical-stage biotechnology company pioneering the development of dual-sided fusion proteins as an entirely new class of biologic medicine. We believe our approach has the potential to fundamentally transform the therapeutic modulation of the immune system. Compounds derived from our proprietary Agonist Redirected Checkpoint, or ARC®, platform simultaneously inhibit checkpoint molecules and activate costimulatory molecules within a single therapeutic. Our lead wholly owned 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. We are currently conducting a Phase 1 clinical trial evaluating SL-172154 in patients with ovarian cancer, and we expect to announce initial data from the dose-escalation portion of this trial in the second half of 2021. Our second product candidate, SL-279252, which is being developed in collaboration with Takeda, has been rationally designed to simultaneously inhibit the PD-1/PD-L1 interaction and activate the OX40 receptor. We are evaluating SL-279252 in a Phase 1 clinical trial in patients with advanced solid tumors and lymphoma, and we expect to announce data from the dose-escalation portion of this trial in the second half of 2021 “.
Shattuck Labs, Inc. was founded in 2016 and has 45 employees. The company is located at 1018 W. 11th Street, Suite 100 Austin, TX 78703 and can be reached via phone at (919) 864-2700 or on the web at https://www.shattucklabs.com/.
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