Cut by the tip of a sharp antler (5)
I believe the answer is:
shorn
'cut' is the definition.
('shorn' can be a synonym of 'cut')
'by the tip of a sharp antler' is the wordplay.
'by' says to put letters next to each other.
'the tip of' indicates taking the first letters.
'antler' becomes 'horn' (I've seen this before).
The first letter of 'sharp' is 's'.
's'+'horn' is 'SHORN'.
(Other definitions for shorn that I've seen before include "Having taken coat off" , "De-fleeced" , "Shaved" , "unlocked" , "set upon by strippers?" .)