Shattuck Labs, a Phase 1 biotech developing dual-sided fusion protein therapies for cancer, announced terms for its IPO on Monday.
The Austin, TX-based company plans to raise $150 million by offering 10 million shares at a price range of $14 to $16. At the midpoint of the proposed range, Shattuck Labs would command a fully diluted market value of $600 million.
The company's lead candidate, SL-172154, is designed to simultaneously inhibit the CD47/SIRPa checkpoint and activate the CD40 costimulatory receptor. The company is currently conducting a Phase 1 trial of SL-172154 for ovarian cancer, with initial data expected in the 2H21.
Shattuck Labs was founded in 2016 and plans to list on the Nasdaq under the symbol STTK. Citi, Cowen and Evercore ISI are the joint bookrunners on the deal.
