AUSTIN, TX and DURHAM, NC, Dec. 21, 2023 (GLOBE NEWSWIRE) — Shattuck Labs, Inc. (NASDAQ: STTK), a clinical-stage biotechnology company pioneering the development of bi-functional fusion proteins as a new class of biologic medicine for the treatment of patients with cancer and autoimmune disease, today announced the pricing of a registered offering of 4,651,163 shares of common stock, par value $0.0001, at a price of $6.45 per share, which is priced at the closing price on Nasdaq for the common stock on December 20, 2023. In addition to the shares sold in the registered offering, Shattuck announced the concurrent pricing of a private placement of pre-funded warrants to purchase 3,100,823 shares of common stock at a purchase price of $6.4499 per pre-funded warrant, which represents the per share offering price for the common stock less the $0.0001 per share exercise price for each pre-funded warrant. The gross proceeds to Shattuck from the registered offering and private placement, before deducting the underwriting discounts and commissions and estimated offering expenses, are expected to be approximately $50 million. The offering is expected to close on or about December 26, 2023, subject to customary closing conditions.
Evercore ISI is acting as sole book-running manager for the offering.
Shattuck intends to use the net proceeds from the registered offering and the private placement for the development of its pipeline candidates, including SL-172154, and working capital and general corporate purposes.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities referenced herein, nor shall there be any sale of such securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Shattuck Labs, Inc.
Shattuck Labs, Inc. (NASDAQ: STTK) 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 patients with cancer and autoimmune disease. Compounds derived from Shattuck’s proprietary Agonist Redirected Checkpoint, (“ARC®”), platform are designed to simultaneously inhibit checkpoint molecules and activate costimulatory molecules with a single therapeutic. The company’s lead SL-172154 (“SIRPα-Fc-CD40L”) program, which is designed to block the CD47 immune checkpoint and simultaneously agonize the CD40 pathway, is being evaluated in multiple Phase 1 trials. Shattuck has offices in both Austin, Texas and Durham, North Carolina.
