Shattuck Labs Inc. (STTK) IPO Opens 30% Higher

Today's IPO for Shattuck Labs Inc. (NASDAQ: STTK) opened for trading at $22.10 after pricing 11,882,352 shares of common stock at a public offering price of $17.00 per share.

Citigroup, Cowen, and Evercore ISI are acting as joint book-running managers for the offering. Needham & Company is acting as lead manager for the offering.

Shattuck is a clinical-stage biotechnology company pioneering the development of bi-functional fusion proteins as a new class of biologic medicine for the treatment of cancer and autoimmune disease. Compounds derived from Shattuck’s ARC platform simultaneously inhibit checkpoint molecules and activate costimulatory molecules within a single therapeutic. The company’s lead wholly owned program, SL-172154 (SIRPα-Fc-CD40L), which is designed to block the CD47 immune checkpoint and simultaneously agonize the CD40 pathway, is being evaluated in a Phase 1 trial. A second compound, SL-279252 (PD1-Fc-OX40L), is being evaluated in a Phase 1 trial in collaboration with Takeda Pharmaceuticals. Additionally, the company is advancing a proprietary Gamma Delta T Cell Engager platform, GADLEN™, which is designed to bridge gamma delta T cells to tumor antigens for the treatment of cancer. Shattuck has offices in both Durham, North Carolina and Austin, Texas.

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