Tag: NASDAQ:STTK

The share price of Shattuck Labs, Inc. (NASDAQ: STTK) saw a little gain on Thursday during the extended trading session. STTK shares decreased 9.26% to $4.16 at the close of the regular session, but then increased 5.64% to $4.40 in the after-market trading. Even though there were no noteworthy fresh events, the market’s better attitude seemed to be the driving force behind the stock price’s recent surge.

Updated Clinical Trial Data

Shattuck Labs (STTK) last week announced a preliminary result from the Phase 1B dose expansion clinical study of SL-172154 with azacitidine for frontline HR-MDS and TP53-mutant AML patients. On June 14, 2024, Shattuck gave a poster session presentation of his findings at the European Hematology Association (EHA) 2024 Congress. The information emphasized SL-172154’s distinct mode of action and confirmed its status as a top CD47 inhibitor in hematologic malignancies.

Encouraging Results And Future Plans

The latest data reveal an improvement in the complete remission rate since the previous update in December, with additional patients in both cohorts showing continued progress. Due to these promising results, Shattuck Labs is concentrating its efforts on HR-MDS and TP53-mutated AML, areas with significant unmet needs, minimal competition, and potential for expedited approval pathways.

The accumulating evidence highlights the therapeutic potential and manageable safety profile of SL-172154 for patients with previously untreated HR-MDS and TP53-mutated AML. Clinical evidence suggests a pharmacodynamic effect of CD40 activation in the peripheral blood and a developing correlation between clinical remission and CD40-mediated cytokine induction.

Patients treated by Shattuck Labs represent a high-risk group with historically short durations of complete remission and overall survival when treated with azacitidine alone. The median overall survival and duration of remission have not yet been reached.

Shattuck Labs plans to share additional data on treatment durability later this year and is actively enrolling patients in the randomized, controlled expansion cohort for frontline HR-MDS. The company anticipates regulatory discussions later this year to define the registration strategy for SL-172154.

Shattuck Labs, Inc. (NASDAQ: STTK) witnessed a notable uptick in its stock performance on the US stock charts during the extended trading session observed on Tuesday. Post-market analysis revealed a commendable surge of 6.03%, propelling the stock price to $8.97. This momentum effectively countered the preceding regular-session decline of 5.37%, which concluded at $8.46. This upward trajectory was largely attributed to a pivotal strategic collaboration and licensing agreement.

The noteworthy development entailed Shattuck (STTK) announcing a global collaboration in drug discovery alongside Ono Pharmaceutical Co., Ltd. (Ono). The focus of this collaboration revolves around the creation of innovative bifunctional fusion proteins, targeting specific pathways associated with autoimmune and inflammatory diseases.

Under the terms delineated within the agreement, Shattuck is poised to receive an upfront payment, coupled with potential success-based payments spanning licensing, regulatory, and commercial milestones, collectively amounting to a substantial $227 million. Furthermore, the arrangement includes tiered royalties contingent upon global net sales.

Shattuck is entrusted with spearheading the discovery research of predetermined compounds aimed at a pair of targets selected by Ono from its pipeline of bifunctional fusion proteins. Ono, in turn, will cover all associated research and development expenditures.

Moreover, Shattuck has granted Ono an exclusive option to advance and commercialize multiple products emanating from this collaborative endeavor, thereby assuming responsibility for subsequent global development and commercialization endeavors post-option exercise.

This collaborative initiative with Ono Pharmaceutical was made feasible by Shattuck’s profound expertise in protein engineering and development, particularly in the realm of complex fusion proteins. With a deliberate focus on autoimmune and inflammatory diseases, Shattuck has strategically earmarked a select group of preclinical pipeline candidates, aligning with the company’s broader objective of addressing areas marked by significant unmet medical needs.

This synergistic collaboration echoes STTK’s overarching strategy aimed at unlocking enhanced value from its bifunctional fusion protein platform and scientific proficiency. Ono, known for its proactive endeavors in the realm of biologics to address diverse medical exigencies, is poised to integrate Shattuck’s bifunctional fusion proteins into its portfolio.

Leveraging Shattuck’s proprietary research and development competencies, particularly in protein engineering, Ono anticipates generating functional biologics targeting therapeutic endpoints that have hitherto posed challenges through conventional methodologies. This strategic integration underscores Ono’s commitment to expeditiously delivering innovative therapeutic solutions to patients grappling with autoimmune and inflammatory disorders.