Shattuck Labs Jumps 28% on $103M Oversubscribed Private Placement
Shattuck Labs, Inc. (STTK) climbed 27.91% to lead the PRISM Emerging Biotech Index after announcing an oversubscribed private placement of up to $103 million. The funding, led by OrbiMed and several healthcare-focused investors, will support the clinical advancement of SL-325, a potentially first-in-class DR3 blocking antibody for autoimmune and inflammatory diseases. The proceeds are expected to fund operations through 2029 and transition the company into multiple Phase 2 trials, including those in inflammatory bowel disease.
SES AI Drops 20% Despite Affirming Revenue Guidance and Acquisition Plan
SES AI Corporation (SES) fell 20.07%, dragging down the PRISM Emerging EV Index, after reporting $3.5 million in Q2 revenue and affirming full-year guidance between $15–$25 million. Despite positive gross margins (74%) and expanded enterprise adoption of its Molecular Universe AI platform, the stock retreated. News of the company’s agreement to acquire UZ Energy, a move aimed at penetrating the $300 billion energy storage market, was not enough to offset concerns about burn rate and market execution, particularly in the face of heightened competition and macroeconomic headwinds.
Other PRISM Mid-Day Movers:
• Ardelyx, Inc. (ARDX) up 15.83%
• Voyager Digital Ltd. (VOYG) down 18.57%
The post PRISM Mid-Day Movers: Biotech Boosts and EV Battery Setbacks appeared first on PRISM MarketView.
