Shattuck Labs

2024 was a challenging year for the biopharma industry, with companies like Bayer, Bristol Myers Squibb, and Johnson & Johnson cutting hundreds to thousands of jobs. Cassava Sciences announced layoffs of 10 employees, 33% of its workforce, following a failed Phase III trial for its Alzheimer's drug. CytomX Therapeutics cut 40% of its staff to focus on clinical programs. Velia, a San Diego biotech, is shutting down, affecting 47 employees. Regeneron's acquisition of Oxular led to layoffs, with no Oxular employees joining Regeneron. Javara, Ring Therapeutics, Outlook Therapeutics, Editas, Bavarian Nordic, BenevolentAI, Chroma Medicine and Nvelop Therapeutics, Cellectar Biosciences, Carisma Therapeutics, Belharra Therapeutics, National Resilience, AmplifyBio, Agenus, Alligator Bioscience, Idorsia Pharmaceuticals, Kronos Bio, Novartis, Recursion Therapeutics, Medigene, Alector, Bristol Myers Squibb, Sonata Therapeutics, 23andMe, Johnson & Johnson, Merck, Gilead Sciences, Adaptimmune, Sensei Biotherapeutics, Marinus Pharmaceuticals, Orna Therapeutics, Thermo Fisher Scientific, Charles River Laboratories, Aurinia Pharmaceuticals, Viracta Therapeutics, Astellas Gene Therapies, Sana Biotechnology, Sage Therapeutics, Compass Pathways, Spero Therapeutics, ICON, Pfizer, Takeda, SalioGen Therapeutics, Evonik, Medtronic, CareFusion Resources, Turnstone Biologics, Leo Pharma, Astellas Pharma, Prime Medicine, Kaléo, Stryker, Relay Therapeutics, ImmunityBio, Shattuck Labs, Inventprise, bluebird bio, Athira Pharma, AGC Biologics, Oncternal Therapeutics, Biosense Webster, Vesigen Therapeutics, Connect Biopharma, BioMarin, IN8bio, Edwards Lifesciences, DermTech, Repare Therapeutics, Genentech, Tome Biosciences, Aadi Bioscience, Lykos Therapeutics, Evotec, Galera Therapeutics, Grail, Ovid Therapeutics, Lexicon Pharmaceuticals, Acelyrin, Boundless Bio, FibroGen, Ajinomoto Bio-Pharma Services, AN2 Therapeutics, Entero Therapeutics, Precigen, Sumitomo Pharma America, uniQure, Vir Biotechnology, Arbutus Biopharma, HilleVax, and Bayer also announced significant layoffs, reflecting a tough year for the industry.

Shattuck Labs announced progress on SL-325, a DR3 blocking antibody, with preclinical data readout and IND filing expected in 2025. The company plans to present findings at upcoming conferences and has sufficient funds to support operations into 2027.

Shattuck Labs (NASDAQ: STTK) announced CEO Dr. Taylor Schreiber's participation in the Piper Sandler 36th Annual Healthcare Conference on Dec 3, 2024, at 12:30 p.m. ET, and a fireside chat at the Evercore 7th Annual HealthCONx Conference on Dec 4, 2024, at 8:45 a.m. ET. Live webcasts available on the company's website with replays archived for up to 90 days.

Spero Therapeutics halted SPR720 development after Phase IIa trial failure in NTM-PD patients, showing no significant antimicrobial effect over placebo. The company plans layoffs and to focus resources on tebipenem HBr and SPR206 programs. Spero's stock dropped over 17% post-announcement, despite having cash reserves until mid-2026.

Spero Therapeutics halted development of antibiotic SPR720 after it failed to differentiate from placebo in a Phase IIa trial for non-tuberculous mycobacterial pulmonary disease (NTM-PD). The company plans to lay off 39% of staff and focus on its other antibiotic programs, tebipenem HBr and SPR206. Spero's stock dropped 17% in premarket trading.

Shattuck Labs discontinues SL-172154 development in TP53m AML and HR-MDS, pivoting to SL-325, a DR3 antagonist antibody for IBD, with an IND filing expected in Q3 2025. The restructuring extends the cash runway to 2027.