Company: SHPH
Filing Date: 2025-02-13
Form Type: S-1
Source: 0001493152-25-006202
Chunk: 101

Company: Shuttle Pharmaceuticals Holdings, Inc.
Filing Date: 2025-02-13
Form: S-1
Chunk 101
---
 that the Company’s securities will become subject to delisting. In that event, the Company will have an opportunity to appeal Nasdaq’s decision to a hearings panel.

On December 31, 2024, we received a letter from the Nasdaq Listing Qualifications Staff of the Nasdaq (the “Staff”) stating that for the 30 consecutive business day period the Company’s common stock had failed to maintain a minimum closing bid price of $1.00 per share, as required for continued listing on The Nasdaq Capital Market pursuant to Nasdaq Listing Rule 5550(a)(2) (the “Minimum Bid Price Requirement”). In accordance with Nasdaq rules, the Company was provided with an initial period of 180 calendar days, or until June 30, 2025, to regain compliance with the Minimum Bid Price Requirement (the “Initial Grace Period”). In the event the Company does not regain compliance with the Minimum Bid Price Requirement during the Initial Grace Period, the Company may be eligible for an additional 180-day period to regain compliance. To qualify, the Company will be required to meet all other continued listing requirements, save for the Minimum Bid Price Requirement and will be required to provide Nasdaq with a plan of compliance prior to the end of the Initial Grace Period.

In addition, the Company had previously fallen out of compliance with the Minimum Bid Price Requirement during the year ended December 31, 2023. During the second of two 180-day compliance periods, still being unable toto regain compliance with the Minimum Bid Price Requirement, on August 6, 2024, we filed an amendment to our certificate or incorporation to effect a 1-for-8 reverse stock split of our outstanding common stock (the “2024 Reverse Stock Split”). The 2024 Reverse Stock Split became effective on August 13, 2024, when the Company’s common stock opened for trading on Nasdaq on a post-split basis under the Company’s existing trading symbol, “SHPH.” Subsequently, on August 27, 2024, we received notice from Nasdaq that we had regained compliance with the Minimum Bid Price Requirement.

All historical share and per share amounts reflected throughout this prospectus have been adjusted to reflect the 2024 Reverse Stock Split. However, our periodic and current reports, and all other documents included in this prospectus that were filed prior to August 13, 2024 do not give effect to the 2024 Reverse Stock Split.

Liquidity and Going Concern Uncertainty

Our unaudited