Company: SHPH
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001493152-25-008300
Chunk: 39

Company: Shuttle Pharmaceuticals Holdings, Inc.
Filing Date: 2025-02-26
Form: 10-K
Item: Item 1
Chunk 39
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 us or the third parties upon whom we rely. For example, in 2008, the global financial crisis caused extreme volatility and
disruptions in the capital and credit markets and the COVID-19 pandemic has caused significant volatility and uncertainty in U.S.
and international markets. Inflation rates, particularly in the United States, have increased recently to levels not seen in years.
Increased inflation may result in increased operating costs (including our labor costs), reduced liquidity, and limitations on our
ability to access credit or otherwise raise debt and equity capital. In addition, the United States Federal Reserve has raised, and
may again raise, interest rates in response to concerns about inflation. Increases in interest rates, especially if coupled with
reduced government spending and volatility in financial markets, may have the effect of further increasing economic uncertainty and
heightening these risks, which may impact our ability to raise additional capital in the future. The March 2023 failure of Silicon
Valley Bank, the pressure such failure has placed on other mid-sized banks, and its potential near- and long-term effects on the
biotechnology industry and its participants such as our vendors, suppliers and investors, may also adversely affect our operations
and stock price. In addition, U.S. and global markets are experiencing volatility and disruption following the escalation of
geopolitical tensions and the ongoing military conflict between Russia and Ukraine, which began with a full-scale military invasion
of Ukraine by Russian Troops on February 24, 2022, and the ongoing conflict between Israel and Hamas, which began on with a
terrorist attack by Hamas against Israel on October 7, 2024. Although the length and impact of the ongoing military conflict is
highly unpredictable, these conflicts could lead to market disruptions, including significant volatility in commodity prices, credit
and capital markets, as well as supply chain disruptions. For example, various of Russia’s actions have led to sanctions and
other penalties being levied by the United States, Australia, the European Union, and other countries, as well as other public and
private actors and companies, against Russia and certain other geographic areas, including agreement to remove certain Russian
financial institutions from the Society for Worldwide Interbank Financial Telecommunication payment system and restrictions on
imports of Russian oil, liquified natural gas and coal. Additional potential sanctions and penalties have also been proposed and/or
threatened. Russian military actions and the resulting sanctions could disrupt or otherwise adversely impact our operations and the
operations of third parties upon which we rely,