Shattuck 2024 Q3 Earnings Narrowed Losses Amid Strong Revenue Growth

Shattuck (STTK) reported its fiscal 2024 Q3 earnings on August 14th, 2025. The results marked a significant improvement in the company’s financial performance, with revenue soaring and losses narrowing. The company has maintained a positive trajectory amid ongoing financial challenges, supported by a recent major private placement.

Shattuck’s total revenue for the third quarter of 2024 surged by 336.9% year-over-year to $3 million, a notable improvement from $686,000 in the same period in 2023. This growth was primarily driven by the Collaboration segment, which accounted for the full $3 million in revenue during the quarter, reflecting a strong focus on partnership and joint development initiatives.

The company narrowed its net loss to $16.68 million in 2024 Q3, down from $27.54 million in 2023 Q3, representing a 39.5% reduction in losses. On a per-share basis, the loss decreased to $0.33 from $0.65, marking a 49.2% improvement. Despite these improvements, Shattuck has sustained losses for five consecutive years in the corresponding fiscal quarter, signaling ongoing financial challenges.

Shattuck’s stock has shown strong performance in the short term, with the price climbing 7.55% during the latest trading day, 10.18% over the past full trading week, and 8.75% month-to-date. However, the post-earnings price action review revealed a concerning trend: buying shares immediately after a revenue beat and holding for 30 days resulted in a significant loss over the past three years. This strategy returned -70.36%, far below the 60.76% benchmark return. The strategy had a Sharpe ratio of -0.72 and a maximum drawdown of 0.00%, underscoring the high risk and poor performance relative to the broader market.

CEO Taylor Schreiber, M.D., Ph.D., highlighted a productive Q2 2025 marked by the successful submission of the IND application for SL-325 to the FDA. The CEO emphasized that with expected Phase 1 dosing to begin in Q3 2025 and conclude by Q2 2026, the SAD portion of the trial is anticipated to start in Q3 2025, with the MAD portion expected to follow in Q4 2025. The anticipated net proceeds from the private placement, up to $103 million, combined with current cash and cash equivalents of $50.5 million, are expected to fund operations into 2029, contingent on IND clearance and other customary conditions.

While Shattuck's earnings results reflect progress in reducing losses and strong revenue growth, the stock's post-earnings performance remains a concern for investors. The narrowing of the per-share loss demonstrates operational efficiency, but the company continues to operate in a red-ink environment, indicating a need for sustained profitability to solidify its market position.

Additional News
Recent news from Nigeria’s Punch newspaper highlights several events unrelated to Shattuck’s earnings but of interest in the broader market context. Two Nigerians were arrested in Lebanon for allegedly smuggling three kilograms of cocaine valued at $500,000, underscoring ongoing international drug trafficking concerns. In Kaduna State, authorities dismissed allegations from the African Democratic Congress and Social Democratic Party that the government engaged in election sabotage, maintaining a firm stance on the integrity of the electoral process. Meanwhile, the Nigerian government announced plans to expand e-commerce and digital inclusion in partnership with Jumia, aiming to bolster the country’s digital economy. These developments illustrate the complex interplay of domestic and international issues that can influence investor sentiment and market dynamics.