Shattuck plunges after discontinuing lead candidate [Seeking Alpha]
ONO PHARM CO UNSP/ADR (OPHLY)
NASDAQ:AMEX Investor Relations:
ono.co.jp/eng/investor/index.html
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Source: Seeking Alpha
The decision came after an interim Phase 1 readout indicated that SL-172154, compared to azacitidine monotherapy, failed to improve median overall survival in certain patients with myeloid leukemia and myelodysplastic syndromes in combination with azacitidine. The setback has prompted Austin, Texas-based biotech to prioritize its bowel disease therapy SL-325 due to its promising preclinical data. The company expects to submit an Investigational New Drug (IND) Application in Q3 2025 to seek FDA clearance to conduct its clinical trials for SL-325 in inflammatory bowel disease (IBD). Shattuck ( STTK ) will also reduce approximately 40% of its workforce as part of the portfolio shakeup, and the layoffs are expected to conclude in Q4 2024. Concurrently, the company announced the termination of a collaboration and licensing deal with Ono Pharmaceutical ( OTCPK:OPHLF OTCPK:OPHLY ), which will result in the loss of several future payments from the Japanese Pharma. However, Shattuck (
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