Shattuck Labs, Inc. (NASDAQ: STTK) reported a net loss of $0.12 per share for its fourth quarter of 2025, beating the consensus estimate of a $0.15 loss. The company posted zero revenue for the quarter, a decline from the $0.71 million it generated in Q4 2024. The loss narrowed from the $18.7 million net loss ($0.37 per share) reported in the same period a year earlier, reflecting a significant reduction in research and development and general‑administrative expenses after the company discontinued its SL‑172154 program.
The earnings beat was driven primarily by disciplined cost management. R&D spending fell sharply as the company shifted resources away from the discontinued program and reduced its workforce. General‑administrative costs also declined, further tightening the loss profile. Because the company generated no revenue, the improvement in earnings per share is attributable almost entirely to the lower expense base rather than any revenue growth.
For context, Shattuck’s full‑year 2024 results showed a net loss of $75.4 million ($1.49 per share) on $5.72 million in revenue. The 2025 quarter’s loss of $0.12 per share represents a dramatic improvement from the $18.7 million loss in Q4 2024, underscoring the company’s progress in trimming operating costs.
Management reiterated its focus on the SL‑325 immunology program, stating that Phase 1 data are expected in the second quarter of 2026 and that a Phase 2 trial in Crohn’s disease will begin in the third quarter. The company also confirmed that its current cash and short‑term investments of $73.0 million, combined with the full exercise of outstanding warrants, will support operations through 2029. These guidance points signal confidence in the company’s pipeline and its ability to sustain its cash runway without additional capital raises in the near term.
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