Shattuck Labs, a clinical-stage biotechnology company, has reported significant business developments in its latest quarterly financial report. The company has entered into a collaboration and license agreement with Ono Pharmaceutical Co., Ltd. in February 2024, focusing on the research and preclinical development of bifunctional fusion proteins for autoimmune and inflammatory diseases. Under the Ono Agreement, Shattuck Labs may receive up to $217.5 million in milestone payments, as well as tiered royalty payments on commercial sales. Additionally, Shattuck Labs has an Exclusive License Agreement with Kopfkino IP, LLC, which could lead to payments of up to $20.5 million upon achieving certain milestones. The company has not recorded a liability for these payments as the achievement of milestones is not considered probable as of...Show More

Shattuck Labs, a clinical-stage biotechnology company, has reported significant business developments in its latest quarterly financial report. The company has entered into a collaboration and license agreement with Ono Pharmaceutical Co., Ltd. in February 2024, focusing on the research and preclinical development of bifunctional fusion proteins for autoimmune and inflammatory diseases. Under the Ono Agreement, Shattuck Labs may receive up to $217.5 million in milestone payments, as well as tiered royalty payments on commercial sales. Additionally, Shattuck Labs has an Exclusive License Agreement with Kopfkino IP, LLC, which could lead to payments of up to $20.5 million upon achieving certain milestones. The company has not recorded a liability for these payments as the achievement of milestones is not considered probable as of the balance sheet date. Shattuck Labs has also completed its obligations under an agreement with ImmunoGen, recognizing revenue for the first half of 2024. The company's financial performance shows revenue recognition from the Ono Agreement of $1.5 million and $2.4 million for the three and six months ended June 30, 2024, respectively. Shattuck Labs continues to focus on advancing its clinical-stage product candidate, SL-172154, and expects to nominate additional product candidates to its clinical pipeline in the future. The company's future plans include further clinical development of SL-172154, with ongoing and planned studies in various hematologic malignancies.