Company: SHPH
Filing Date: 2025-01-15
Form Type: S-1
Source: 0001493152-25-002253
Chunk: 114

Company: Shuttle Pharmaceuticals Holdings, Inc.
Filing Date: 2025-01-15
Form: S-1
Chunk 114
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| Current assets               |     | $    |       361,351 |   |     | $    |    5,593,005 |     | $      | (5,231,654 | ) |     |   |  (94 | )% |
| Current liabilities          |     |      |     1,659,233 |   |     |      |    1,042,237 |     |        |    616,996 |   |     |   |   59 | %  |
| Working capital (deficiency) |     | $    |    (1,297,882 | ) |     | $    |    4,550,768 |     | $      | (5,848,650 | ) |     |   | (129 | )% |

As of September 30, 2024, total current assets were $0.4 million and total current liabilities were $1.7 million, resulting in a working capital deficiency of $1.3 million. As of December 31, 2023, total current assets were $5.6 million and total current liabilities were $1.0 million, resulting in a working capital of $4.6 million. As of September 30, 2024, the current assets were from $0.2 million cash, $0.1 million in prepaid expenses and $0.1 million in deferred costs, with the decrease from December 31, 2023 being primarily due to ongoing cash burn from our R&D programs, filing expenses, reaudits, and general operations. The increase in current liabilities is primarily due to an increase in accounts payable of $1.1 million compared to December 31, 2023, partially offset by the net change in amounts owed under convertible notes and notes payable of $0.5 million.

Cash Flows from Operating Activities

|                                                 |     | Nine Months Ended 
 September 30,     |       2024 |   |     |   |       2023 |   |     |   |     Change |   |     |     |    % |    |
|:------------------------------------------------|:----|:------------------|-----------:|:--|:----|:--|-----------:|:--|:----|:--|-----------:|:--|:----|:----|-----:|:---|
| Cash used in operating activities               |     | $                 | (4,637,068