Citi downgraded Shattuck Labs to Neutral from Buy with a price target of $2, down from $8. The firm says that despite the “promising” Phase 1 responses previously reported for SL-172154 in in combination with azacitidine in TP53 mutant acute myeloid leukemia and higher-risk myelodysplastic syndromes, Shattuck disclosed today this did not translate into sufficiently improved overall survival versus the established azacitidine monotherapy benchmarks to warrant further development. With SL-325 is at least a year from the clinic and thus unlikely to drive share value in the near-term, Citi downgraded the shares.
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Read More on STTK:
- Shattuck Labs downgraded to Neutral from Buy at H.C. Wainwright
- Shattuck Labs Refocuses Strategy Amidst Restructuring and Cuts
- Shattuck Labs provides pipeline and financial update
- Shattuck Labs price target lowered to $8 from $9 at Citi
- Shattuck Labs: Cash equivalents and investments will be sufficient into 2026
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