STTK · Shattuck Labs, Inc.

Shattuck Labs, Inc., a clinical-stage biotechnology company, engages in the development of antibodies for the treatment of inflammatory and immune-mediated diseases in the United States. The company develops SL-325, a death receptor 3 blocking monoclonal antibody, which is in Phase I clinical trial for the treatment of tumor necrosis factor like ligand 1A; and SL-425, a half-life extended version of SL-325, which is under IND-enabling chronic good laboratory practices toxicity study. It is also involved in the development of various preclinical DR3-based bispecific antibodies for the treatment of patients with inflammatory bowel disease or other immune-mediated indications; and TRIM7, an oncology-focused program. The company was incorporated in 2016 and is headquartered in Austin, Texas.

Cap structure and valuation

Cap structure
SP	$6.33
SO	76.7M
Options	13.1M
Warrants	3.1M
FD SO	92.8M
MC	$587.7M

Cash	$90.4M
Total debt	—
EV	$497.3M

TTM Multiples
EV / Revenue	497.3x
EV / EBITDA	—
MC / Net Income	—
EV / FCF	—
MC / FCF	—

Ownership & coverage
Institutional	59.6%
Insiders	4.5%
# Institutions	107
Analysts	6
Consensus	—
Avg target	$14.83

Short % float	6.4%
Days to cover	3.21

MC = SP × FD SO. EV = MC + Debt − Cash. SP = previous yfinance close. Balance-sheet figures as of 2026-04-30. Multiples use TTM (sum of last 4 quarters); shown as "—" when the denominator is zero or negative, or when fewer than four quarters are reported — a partial sum is not a trailing twelve months. Ownership & coverage per Yahoo Finance as of 2026-07-13 — institutional % is 13F-based, so it can lag a quarter and exceed 100% on share-count timing. Short interest per FINRA bi-monthly reporting, as of 2026-06-29; the float denominator can be unreliable on tiny floats.

Financial statements

	3/31/26	12/31/25	9/30/25	6/30/25
Total Revenue	0.00	0.00	1.00	0.00
Revenue YoY %	—	—	(66.6%)	(100.0%)

SG&A	4.60	4.32	4.10	4.35
R&D	10.95	9.05	7.62	8.68

Operating Income	(15.54)	(13.37)	(10.72)	(13.03)
Operating Income YoY %	(8.0%)	31.9%	40.2%	43.2%
Operating Margin %	—	—	(1071.6%)	—
EBITDA	(14.65)	(12.46)	(9.80)	(12.10)
EBITDA Margin %	—	—	(979.9%)	—

Other Income / (Expense)	0.78	0.78	0.66	0.57
Pretax Income	(14.77)	(12.59)	(10.06)	(12.46)
Net Income	(14.77)	(12.59)	(10.06)	(12.46)
Net Margin %	—	—	(1005.6%)	—

Diluted EPS	-$0.13	-$0.08	-$0.14	-$0.24
Basic EPS	-$0.13	-$0.08	-$0.14	-$0.24
Diluted Avg Shares	112.2	—	72.2	51.0
Basic Avg Shares	112.2	—	72.2	51.0

	LTM	12/31/25	12/31/24	12/31/23	12/31/22
Total Revenue	1.00	1.00	5.72	1.66	0.65
Revenue YoY %	0.0%	(82.5%)	245.3%	154.1%	—

SG&A	17.36	17.23	19.08	19.30	21.08
R&D	36.30	35.27	67.21	74.31	82.90

Operating Income	(52.66)	(51.51)	(80.57)	(91.96)	(103.33)
Operating Income YoY %	(2.2%)	36.1%	12.4%	11.0%	—
Operating Margin %	(5266.4%)	(5150.8%)	(1408.3%)	(5549.6%)	(15848.0%)
EBITDA	(49.02)	(47.81)	(76.77)	(87.96)	(100.23)
EBITDA Margin %	(4902.1%)	(4780.8%)	(1341.8%)	(5308.2%)	(15372.5%)

Other Income / (Expense)	2.79	2.70	5.16	4.66	1.38
Pretax Income	(49.87)	(48.81)	(75.41)	(87.30)	(101.94)
Tax Provision	—	0.00	0.00	0.00	0.00
Net Income	(49.87)	(48.81)	(75.41)	(87.30)	(101.94)
Net Margin %	(4987.4%)	(4880.9%)	(1318.1%)	(5268.4%)	(15635.7%)

Diluted EPS	-$0.59	-$0.70	-$1.49	-$2.05	-$2.41
Basic EPS	-$0.59	-$0.70	-$1.49	-$2.05	-$2.41
Diluted Avg Shares	112.2	69.6	50.8	42.6	42.4
Basic Avg Shares	112.2	69.6	50.8	42.6	42.4

	3/31/26	12/31/25	9/30/25	6/30/25
Cash & Equivalents	90.42	54.19	42.55	50.47
Other Current Assets	3.33	28.28	48.17	4.21
Total Current Assets	93.75	82.47	90.72	54.67

Net PPE	5.35	6.11	7.05	7.95
Operating Lease ROU	—	1.34	—	—
Other Assets	3.02	1.10	2.56	1.75
Total Assets	102.12	91.03	100.33	64.37

Accounts Payable	1.25	2.10	1.16	0.47
Current Lease Liabilities	0.85	0.84	0.87	0.96
Other Current Liabilities	2.14	4.11	3.30	3.90
Total Current Liabilities	4.25	7.05	5.34	5.34
Long-term Lease Liabilities	2.04	1.58	1.76	2.02
Total Liabilities	6.29	8.64	7.09	7.35

Retained Earnings	(445.30)	(430.53)	(417.94)	(407.88)
Total Equity	95.83	82.39	93.24	57.02

	LTM	12/31/25	12/31/24	12/31/23	12/31/22
Cash & Equivalents	90.42	54.19	57.39	125.63	47.38
Short-term Investments	—	—	—	5.00	113.90
Other Current Assets	3.33	28.28	21.83	12.60	23.30
Total Current Assets	93.75	82.47	79.22	143.22	184.58

Net PPE	5.35	6.11	9.81	13.80	17.67
Operating Lease ROU	—	1.34	1.84	2.27	2.63
Other Assets	3.02	1.10	—	—	—
Total Assets	102.12	91.03	91.05	159.56	205.32

Accounts Payable	1.25	2.10	2.42	1.59	7.17
Current Lease Liabilities	0.85	0.84	0.90	0.80	0.70
Other Current Liabilities	2.14	4.11	5.60	9.07	17.09
Total Current Liabilities	4.25	7.05	8.92	11.45	24.96
Long-term Lease Liabilities	2.04	1.58	2.51	3.41	4.20
Total Liabilities	6.29	8.64	11.42	14.86	29.17

Retained Earnings	(445.30)	(430.53)	(381.72)	(306.31)	(219.01)
Total Equity	95.83	82.39	79.63	144.71	176.16

	3/31/26	12/31/25	9/30/25	6/30/25
Net Income	(14.77)	(12.59)	(10.06)	(12.46)
D&A	0.89	0.91	0.92	0.93
Stock-Based Comp	2.42	1.61	1.78	1.89
Δ Working Cap & Other	(1.96)	1.59	(1.57)	(0.79)
Operating Cash Flow	(13.42)	(8.49)	(8.93)	(10.43)

CapEx	—	0.00	(0.07)	—
Other Investing	23.85	20.00	(43.42)	—
Investing Cash Flow	23.85	20.00	(43.49)	0.00

Stock Issuance	20.56	(0.01)	44.48	0.00
Other Financing	5.24	—	—	—
Financing Cash Flow	25.80	0.13	44.50	0.00

Free Cash Flow	—	(8.49)	(9.00)	—

	LTM	12/31/25	12/31/24	12/31/23	12/31/22
Net Income	(49.87)	(48.81)	(75.41)	(87.30)	(101.94)
D&A	3.64	3.70	3.80	4.00	3.10
Stock-Based Comp	7.69	7.00	9.55	6.94	6.46
Δ Working Cap & Other	(2.73)	(1.77)	1.55	(4.87)	(2.12)
Operating Cash Flow	(41.27)	(39.88)	(60.52)	(81.23)	(94.50)

CapEx	—	(0.07)	(0.06)	(0.41)	(11.61)
Other Investing	—	(7.82)	(8.45)	111.27	61.05
Investing Cash Flow	0.36	(7.89)	(8.51)	110.86	49.44

Stock Issuance	65.04	44.48	—	48.17	0.00
Other Financing	5.40	—	0.79	—	—
Financing Cash Flow	70.43	44.57	0.79	48.62	0.17

Free Cash Flow	—	(39.95)	(60.57)	(81.64)	(106.11)

	3/31/26	12/31/25	9/30/25	6/30/25
Current Ratio	22.06	11.70	17.00	10.25
Quick Ratio	—	—	—	—
Debt / Equity	0.07	0.10	0.08	0.13
EBITDA Margin %	—	—	(979.9%)	—
Working Capital	89.50	75.42	85.39	49.34
Net Debt	—	—	—	—
ROE %	(15.4%)	(15.3%)	(10.8%)	(21.8%)
ROA %	(14.5%)	(13.8%)	(10.0%)	(19.4%)

	LTM	12/31/25	12/31/24	12/31/23	12/31/22
Current Ratio	22.06	11.70	8.88	12.51	7.39
Quick Ratio	—	—	—	—	—
Debt / Equity	0.07	0.10	0.14	0.10	0.17
EBITDA Margin %	(4902.1%)	(4780.8%)	(1341.8%)	(5308.2%)	(15372.5%)
Working Capital	89.50	75.42	70.30	131.77	159.62
Net Debt	—	—	—	—	—
ROE %	(52.0%)	(59.2%)	(94.7%)	(60.3%)	(57.9%)
ROA %	(48.8%)	(53.6%)	(82.8%)	(54.7%)	(49.7%)

Insider activity (last 2 years)

Date Filed	Reporter	Relationship	Trans. Date	Code	Shares	Price	Total Value
2026-06-11	SIEGALL CLAY B	Director	2026-06-09	P	62,500	$4.00	$250,000
2026-06-09	ORBIMED ADVISORS LLC	Director	2026-06-08	C	15,366,490	—	$0
2026-06-09	ORBIMED ADVISORS LLC	Director	2026-06-08	C	3,073,298	—	$0
2026-06-09	ORBIMED ADVISORS LLC	Director	2026-06-08	C	(15,366,490)	—	$-0
2026-06-09	ORBIMED ADVISORS LLC	Director	2026-06-08	C	(3,073,298)	—	$-0
2026-06-09	Ashiya Mona	Director	2026-06-08	C	15,366,490	—	$0
2026-06-09	Ashiya Mona	Director	2026-06-08	C	3,073,298	—	$0
2026-06-09	Ashiya Mona	Director	2026-06-08	C	(15,366,490)	—	$-0
2026-06-09	Ashiya Mona	Director	2026-06-08	C	(3,073,298)	—	$-0
2026-06-02	Baker Daniel G.	Director	2026-05-29	A	81,000	—	$0
2026-06-02	Golumbeski George	Director	2026-05-29	A	81,000	—	$0
2026-06-02	Gibson Neil W	Director	2026-05-29	A	81,000	—	$0
2026-06-02	Ashiya Mona	Director	2026-05-29	A	81,000	—	$0
2026-06-02	SIEGALL CLAY B	Director	2026-05-29	A	81,000	—	$0
2026-06-02	Boudreau Helen M	Director	2026-05-29	A	81,000	—	$0
2026-05-27	SIEGALL CLAY B	Director	2026-05-22	A	128,054	$1.08	$138,887
2026-05-27	SIEGALL CLAY B	Director	2026-05-22	M	(128,054)	—	$-0
2026-05-21	Shukla Abhinav A.	Officer (Chief Technical Officer)	2026-05-21	A	5,122	$1.08	$5,555
2026-05-21	Shukla Abhinav A.	Officer (Chief Technical Officer)	2026-05-21	M	(5,122)	—	$-0
2026-05-18	Stout Stephen	Officer (See Remarks)	2026-05-15	A	12,805	$1.08	$13,888
2026-05-18	Stout Stephen	Officer (See Remarks)	2026-05-15	M	(12,805)	—	$-0
2026-05-14	Neill Andrew R	Officer (Chief Financial Officer)	2026-05-12	A	64,027	$1.08	$69,444
2026-05-14	Neill Andrew R	Officer (Chief Financial Officer)	2026-05-12	M	(64,027)	—	$-0
2026-05-14	Shukla Abhinav A.	Officer (Chief Technical Officer)	2026-05-12	M	2,032	$3.57	$7,254
2026-05-14	Shukla Abhinav A.	Officer (Chief Technical Officer)	2026-05-12	S	(2,032)	$7.01	-$14,244
2026-05-14	Shukla Abhinav A.	Officer (Chief Technical Officer)	2026-05-12	M	(2,032)	—	$-0
2026-05-14	Pandite Arundathy N.	Officer (Chief Medical Officer)	2026-05-12	S	(30,000)	$6.61	-$198,300
2026-05-13	Schreiber Taylor	Director, Officer (Chief Executive Officer)	2026-05-12	A	25,610	$1.08	$27,777
2026-05-13	Schreiber Taylor	Director, Officer (Chief Executive Officer)	2026-05-12	M	(25,610)	—	$-0
2026-05-12	Stout Stephen	Officer (See Remarks)	2026-05-10	F	(968)	$6.85	-$6,631
2026-01-27	Pandite Arundathy N.	Officer (Chief Medical Officer)	2026-01-25	F	(3,195)	$4.15	-$13,259
2026-01-27	Stout Stephen	Officer (See Remarks)	2026-01-25	F	(593)	$4.15	-$2,461
2026-01-27	DeYoung Casi	Officer (Chief Business Officer)	2026-01-25	F	(2,286)	$4.15	-$9,487
2026-01-27	Neill Andrew R	Officer (Chief Financial Officer)	2026-01-25	F	(2,589)	$4.15	-$10,744
2026-01-13	Stout Stephen	Officer (See Remarks)	2026-01-10	F	(4,153)	$4.75	-$19,727
2026-01-13	Stout Stephen	Officer (See Remarks)	2026-01-10	A	351,400	—	$0
2026-01-13	DeYoung Casi	Officer (Chief Business Officer)	2026-01-10	F	(5,699)	$4.75	-$27,070
2026-01-13	DeYoung Casi	Officer (Chief Business Officer)	2026-01-10	A	381,600	—	$0
2026-01-13	Shukla Abhinav A.	Officer (Chief Technical Officer)	2026-01-10	A	315,500	—	$0
2026-01-13	Pandite Arundathy N.	Officer (Chief Medical Officer)	2026-01-10	F	(6,851)	$4.75	-$32,542
2026-01-13	Pandite Arundathy N.	Officer (Chief Medical Officer)	2026-01-10	A	487,800	—	$0
2026-01-13	Neill Andrew R	Officer (Chief Financial Officer)	2026-01-10	F	(6,660)	$4.75	-$31,635
2026-01-13	Neill Andrew R	Officer (Chief Financial Officer)	2026-01-10	A	549,800	—	$0
2026-01-13	Schreiber Taylor	Director, Officer (Chief Executive Officer)	2026-01-10	A	1,548,300	—	$0
2025-09-02	Ashiya Mona	Director	2025-08-28	A	66,300	—	$0
2025-09-02	Baker Daniel G.	Director	2025-08-28	A	66,300	—	$0
2025-09-02	ORBIMED ADVISORS LLC	Director	2025-08-25	P	5,255,106	$0.87	$4,559,855
2025-09-02	ORBIMED ADVISORS LLC	Director	2025-08-25	P	1,051,021	$0.87	$911,971
2025-09-02	ORBIMED ADVISORS LLC	Director	2025-08-25	P	10,111,384	—	$0
2025-09-02	ORBIMED ADVISORS LLC	Director	2025-08-25	P	2,022,277	—	$0
2025-09-02	ORBIMED ADVISORS LLC	Director	2025-08-25	P	15,366,490	—	$0
2025-09-02	ORBIMED ADVISORS LLC	Director	2025-08-25	P	3,073,298	—	$0
2025-09-02	Ashiya Mona	Director	2025-08-25	P	5,255,106	$0.87	$4,559,855
2025-09-02	Ashiya Mona	Director	2025-08-25	P	1,051,021	$0.87	$911,971
2025-09-02	Ashiya Mona	Director	2025-08-25	P	10,111,384	—	$0
2025-09-02	Ashiya Mona	Director	2025-08-25	P	2,022,277	—	$0
2025-09-02	Ashiya Mona	Director	2025-08-25	P	15,366,490	—	$0
2025-09-02	Ashiya Mona	Director	2025-08-25	P	3,073,298	—	$0
2025-08-27	Stout Stephen	Officer (See Remarks)	2025-08-25	A	12,805	$0.87	$11,111
2025-08-27	Stout Stephen	Officer (See Remarks)	2025-08-25	A	12,805	—	$0
2025-08-27	Neill Andrew R	Officer (Chief Financial Officer)	2025-08-25	A	64,027	$0.87	$55,556
2025-08-27	Neill Andrew R	Officer (Chief Financial Officer)	2025-08-25	A	64,027	—	$0
2025-08-27	SIEGALL CLAY B	Director	2025-08-25	A	128,054	$0.87	$111,112
2025-08-27	SIEGALL CLAY B	Director	2025-08-25	A	128,054	—	$0
2025-08-27	Schreiber Taylor	Director, Officer (Chief Executive Officer)	2025-08-25	A	25,610	$0.87	$22,222
2025-08-27	Schreiber Taylor	Director, Officer (Chief Executive Officer)	2025-08-25	A	25,610	—	$0
2025-08-27	Shukla Abhinav A.	Officer (Chief Technical Officer)	2025-08-25	A	5,122	$0.87	$4,444
2025-08-27	Shukla Abhinav A.	Officer (Chief Technical Officer)	2025-08-25	A	5,122	—	$0
2025-08-26	Redmile Group, LLC	Director, 10% Owner	2025-08-25	A	4,097,730	—	$0
2025-08-26	Redmile Group, LLC	Director, 10% Owner	2025-08-25	A	4,097,730	—	$0
2025-07-16	Lee Michael Stewart	Director	2025-07-14	A	33,150	—	$0
2025-07-16	Redmile Group, LLC	Director, 10% Owner	2025-07-14	A	33,150	—	$0
2025-07-16	SIEGALL CLAY B	Director	2025-07-14	A	33,150	—	$0
2025-07-16	Sasser Amy Kate	Director	2025-07-14	A	33,150	—	$0
2025-07-16	Golumbeski George	Director	2025-07-14	A	33,150	—	$0
2025-07-16	Gibson Neil W	Director	2025-07-14	A	33,150	—	$0
2025-07-16	Brownstein Carrie	Director	2025-07-14	A	33,150	—	$0
2025-07-16	Brous Tyler	Director	2025-07-14	A	33,150	—	$0
2025-07-16	Boudreau Helen M	Director	2025-07-14	A	33,150	—	$0
2025-01-28	Shukla Abhinav A.	Officer (Chief Technical Officer)	2025-01-28	A	165,200	—	$0
2025-01-28	DeYoung Casi	Officer (Chief Business Officer)	2025-01-28	A	194,300	—	$0
2025-01-28	Pandite Arundathy N.	Officer (Chief Medical Officer)	2025-01-28	A	206,200	—	$0
2025-01-28	Stout Stephen	Officer (See Remarks)	2025-01-28	A	177,000	—	$0
2025-01-28	Neill Andrew R	Officer (Chief Financial Officer)	2025-01-28	A	214,000	—	$0
2025-01-28	Schreiber Taylor	Director, Officer (Chief Executive Officer)	2025-01-28	A	684,600	—	$0
2025-01-28	Shukla Abhinav A.	Officer (Chief Technical Officer)	2025-01-25	F	(2,261)	$1.16	-$2,623
2025-01-28	DeYoung Casi	Officer (Chief Business Officer)	2025-01-25	F	(2,297)	$1.16	-$2,665
2025-01-28	Pandite Arundathy N.	Officer (Chief Medical Officer)	2025-01-25	F	(3,211)	$1.16	-$3,725
2025-01-13	Pandite Arundathy N.	Officer (Chief Medical Officer)	2025-01-10	F	(6,884)	$1.19	-$8,192
2025-01-13	DeYoung Casi	Officer (Chief Business Officer)	2025-01-10	F	(5,727)	$1.19	-$6,815
2025-01-13	Shukla Abhinav A.	Officer (Chief Technical Officer)	2025-01-10	F	(4,830)	$1.19	-$5,748
2024-12-06	Redmile Group, LLC	Director, 10% Owner	2024-12-04	S	(133,371)	$1.25	-$166,714
2024-12-06	Redmile Group, LLC	Director, 10% Owner	2024-12-04	P	133,371	$1.25	$166,714
2024-12-06	Redmile Group, LLC	Director, 10% Owner	2024-12-04	J	(1,026,888)	$1.25	-$1,283,610
2024-12-06	Redmile Group, LLC	Director, 10% Owner	2024-12-04	J	1,026,888	$1.25	$1,283,610
2024-10-08	Schreiber Taylor	Director, Officer (Chief Executive Officer)	2024-10-07	P	36,500	$1.21	$44,220
2024-07-01	Brous Tyler	Director	2024-06-28	P	3,000	$3.90	$11,700
2024-07-01	Brous Tyler	Director	2024-06-27	P	5,416	$3.89	$21,068
2024-06-26	Schreiber Taylor	Director, Officer (Chief Executive Officer)	2024-06-26	P	14,400	$3.47	$50,011
2024-06-21	Lee Michael Stewart	Director	2024-06-21	A	27,700	—	$0
2024-06-21	Redmile Group, LLC	Director, 10% Owner	2024-06-21	A	27,700	—	$0
2024-06-21	SIEGALL CLAY B	Director	2024-06-21	A	27,700	—	$0
2024-06-21	Sasser Amy Kate	Director	2024-06-21	A	27,700	—	$0
2024-06-21	Golumbeski George	Director	2024-06-21	A	27,700	—	$0
2024-06-21	Gibson Neil W	Director	2024-06-21	A	27,700	—	$0
2024-06-21	Boudreau Helen M	Director	2024-06-21	A	27,700	—	$0
2024-06-21	Brownstein Carrie	Director	2024-06-21	A	27,700	—	$0
2024-06-21	Brous Tyler	Director	2024-06-21	A	27,700	—	$0