07:16 AM EDT, 10/01/2024 (MT Newswires) -- Shattuck Labs ( STTK ) shares were down more than 28% in premarket activity Tuesday after disclosing that it was discontinuing its SL-172154 clinical program for the treatment of acute myeloid leukemia and higher-risk myelodysplastic syndromes.

The company said that phase 1 clinical trial results did not show clinically meaningful improvements in median overall survival for patients treated with SL-172154 in combination with azacitidine.

The company said it would now focus on the development of SL-325 for patients with inflammatory bowel disease, where antibodies have demonstrated compelling monotherapy efficacy.

Price: 2.4900, Change: -1.00, Percent Change: -28.65