Small Cap Steals The Show With Wild Premarket Action

Every now and then, you might find yourself looking at a premarket screener/mover list and notice some astronomical moves prior to the opening bell. That’s exactly what happened with a Texas-based biotech company after it was announced “initial topline dose-expansion data from its ongoing Phase 1A/B clinical trial of SL-172154 in combination with AZA in frontline HR-MDS and TP53m AML patients.”

Even thought the release went on to say even more technical data points, the short version of the release, and what we care most about on the trading/investing side of things is that traders were extremely optimistic on the news. Shares of Shattuck Labs Inc. (Nasdaq:STTK) were bid up at $4.70/share (+122.75% implied open for sellers) at the time of writing. It should be a wild session for this small cap.

Shattuck Labs Inc is a clinical-stage biotechnology company pioneering the development of dual-sided fusion proteins as an entirely new class of biologic medicine. Its product candidate, SL-172154, has been rationally designed to simultaneously inhibit the CD47/SIRPa checkpoint interaction to restore an anti-tumor immune response and to activate the CD40 costimulatory receptor to bolster an immune response. Its product candidate, SL-279252, which is being developed in collaboration with Takeda Pharmaceuticals, or Takeda, has been rationally designed to simultaneously inhibit the PD-1/PD-L1 interaction and activate the OX40 receptor.

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