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Shattuck Labs, Inc. (NASDAQ:STTK), a biotechnology firm with a market capitalization of $61.6 million, lately reported a sequence of inventory transactions involving Redmile Group, LLC, a big shareholder. On December 4, 2024, Redmile Group executed a sale of 133,371 shares of Shattuck Labs’ frequent inventory at a value of $1.25 per share, totaling roughly $166,713. In keeping with InvestingPro information, the inventory has proven important volatility, with the worth falling over 82% previously six months.
Along with the gross sales, Redmile additionally acquired an equal variety of shares on the identical day, sustaining their general possession stage. These transactions had been a part of cross trades carried out by non-public funding autos managed by Redmile.
The reported transactions resulted in no revenue to Redmile or Jeremy Inexperienced, the principal of Redmile, as a result of simultaneous nature of the buys and sells on the similar value. Following these transactions, Redmile holds 5,409,353 shares not directly, as famous within the submitting.
In different current information, Shattuck Labs has skilled important adjustments in its analysis and growth focus. The biotechnology firm has determined to discontinue its SL-172154 drug for hematologic malignancies, regardless of some incremental advantages in general response price and median general survival. The choice got here after reviewing its pipeline, and the agency will now reallocate sources to an autoimmune-focused pipeline. This strategic shift has led H.C. Wainwright to downgrade the corporate’s inventory from Purchase to Impartial.
Shattuck Labs additionally terminated a collaboration settlement with Ono Pharmaceutical (TADAWUL:2070) Co., which won’t have an effect on the event of SL-325. Analysts from TD Cowen and H.C. Wainwright have reiterated their Purchase rankings on Shattuck Labs, signaling confidence within the firm’s long-term prospects regardless of the current program cessation. Nonetheless, BTIG analysts maintained a Impartial score, emphasizing the necessity for randomized trial information.
The corporate’s SL-172154 had beforehand acquired an orphan drug designation from the U.S. Meals and Drug Administration, doubtlessly accelerating the drug’s growth. Shattuck Labs is now planning to file an Investigational New Drug utility for SL-325, an anti-DR3 monoclonal antibody, within the third quarter of 2025. This strategic pivot is predicted to increase the corporate’s money runway into 2027.
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