Shattuck Labs Inc
shattucklabs.comWhat Do They Do?
Develops antibody treatments for patients with inflammatory and immune-mediated diseases.
10-K for FY2025, filed Mar 5, 2026
How Do They Make Money?
Partners pay for licenses to Shattuck’s intellectual property and for research, development, or manufacturing work; payments can include upfront fees, milestones, and royalties on related sales. License fees are paid when the license is transferred, while service payments are tied to the related work.
10-K for FY2025, filed Mar 5, 2026At contract inception, once the contract is determined to be within the scope of ASC 606, the Company assesses the goods or services…View ↗
Up-front License Fees: If a license is determined to be distinct from the other performance obligations identified in the arrangement, the…View ↗
Milestone Payments: At the inception of an agreement that includes research and development milestone payments, the Company evaluates each…View ↗
Royalties: For arrangements that include sales-based royalties, including milestone payments based on a level of sales, and the license is…View ↗
Research and Development Services: The Company will record costs associated with development and process optimization activities as…View ↗
License Revenue: License revenue is generated from granting third parties rights to certain of the Company’s intellectual property…View ↗
$1M
-
10-K for FY2025, filed Mar 5, 2026
$1M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Related party license revenue
Licensed
|
100% |
Related party license revenue, FY2025
$1M Sources
|
Licensed |
|
Collaboration revenue:
|
0.0% |
Collaboration revenue:, FY2025
$0 Sources
|
Who Are Their Customers?
Biopharmaceutical companies and other collaborators can license Shattuck’s intellectual property and work with it on research, development, or manufacturing. The filings name Ono Pharmaceutical and ImmunoGen as collaborators.
10-K for FY2025, filed Mar 5, 2026Collaboration revenue is recognized in accordance with ASC 606, Revenue from Contracts with Customers (“ASC 606”). Arrangements with…View ↗
At contract inception, once the contract is determined to be within the scope of ASC 606, the Company assesses the goods or services…View ↗
2025 2024 Related party license revenue $ 1,000 $ — Collaboration revenue: Ono Pharmaceutical Co., Ltd — 5,378 ImmunoGen — 343 License and…View ↗
Do Revenues Turn Into Profits?
No. It lost $48.8M in FY2025.
10-K for FY2025, filed Mar 5, 2026
−$51.5MView ↗
10-K for FY2025, filed Mar 5, 2026
−$48.8MView ↗
10-K for FY2025, filed Mar 5, 2026
−$40MView ↗
How Are They Changing?
- Net income
-
Sources
10-Q for Q2 FY2026, filed Aug 11, 2026
−$15.2MView ↗
- ▲ +22% (Loss)
- vs −$12.5M in Q2 FY2025
-
Aug 11, 2026
Shattuck reported Phase 1 results for SL-325 and outlined Phase 2 plans
The company reported clinical findings for SL-325 and expects to start a Phase 2b Crohn’s disease trial.
Sources
8-K, filed Aug 11, 2026
–RECEPTIVE-CD1 Phase 2b clinical trial of SL-325 in patients with Crohn’s disease expected to initiate in the third quarter of 2026 –View ↗
-
Jun 9, 2026
Shattuck reported Phase 1 results for SL-325
The results included low antidrug antibody rates and durable blockade; a Phase 2b Crohn’s disease trial was expected to start.
Sources
8-K, filed Jun 9, 2026
RECEPTIVE-CD1 Phase 2b Trial of SL-325 in Crohn’s DiseaseView ↗
Shrinking. Revenue fell 97% in 4 years, from $30M in FY2021 to $1M in FY2025, about 57% a year.
Who Do They Compete With?
Competes with Abbvie, Johnson & Johnson, Merck, Novartis, Pfizer, Roche/Genentech, Sanofi, Teva, Takeda, Hoffmann-La Roche, Spyre Therapeutics, Xencor, and Absci
10-K for FY2025, filed Mar 5, 2026We compete in the segments of the pharmaceutical, biotechnology, and other related markets that develop therapies for immune-mediated…View ↗
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