Shattuck Labs Inc. reported a net loss of $10.1 million, or $0.14 per basic and diluted share, for the third quarter ended September 30, 2025, compared to a net loss of $16.6 million, or $0.33 per basic and diluted share, for the same period in 2024. Research and development expenses were $7.6 million, down from $16.3 million in the prior year quarter. General and administrative expenses were $4.1 million, compared to $4.6 million in the third quarter of 2024. As of September 30, 2025, cash and cash equivalents and short-term investments totaled $86.1 million, compared to $90.1 million as of September 30, 2024. The company closed a private placement of up to $103 million in August 2025 and dosed the first participants in a Phase 1 clinical trial of SL-325. Dan Baker, M.D., and Mona Ashiya, Ph.D., were appointed to the Board of Directors. Shattuck Labs expects current cash resources, assuming full exercise of outstanding common stock warrants, to fund operations into 2029.