Company: SHPH
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001493152-25-008300
Chunk: 645

Company: Shuttle Pharmaceuticals Holdings, Inc.
Filing Date: 2025-02-26
Form: 10-K
Item: Item 2
Chunk 645
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68% - 5.60% 
  
    Quoted VWAP 
    $4.72 
  
    Illiquidity discount 
     (17)%
  
    Time period (years) 
     0 - 1.2 
  
    Estimated fair value (issuance) 
     1,442,000 
  
    Estimate fair value (December 31, 2023) 
     3,852 

*Based on a Monte Carlo
                                                                                                                                                                     simulation analysis of 50,000 iterations.

    F-25

The
following table summarizes the changes in the derivative liabilities:

Schedule of Derivative Liabilities 

    Fair Value Measurements Using Significant Unobservable Inputs (Level 3)

    Warrants  
    Alto Accelerated Feature 
  
    Balance - December 31, 2022 
    $—  
    $— 
  
    Addition of new derivative 
     1,189,000  
     1,442,000 
  
    Gain on change in fair value 
     (778,340) 
     (1,438,148)
  
    Balance - December 31, 2023 
     410,660  
     3,852 
  
    Addition of new derivatives 
     166,558  
     — 
  
    Gain on change in fair value 
     (551,937) 
     (3,852)
  
    Balance - December 31, 2024 
    $25,281  
    $— 

Note
8 – Commitments and Contingencies

On
December 16, 2024, the Company entered into a sponsored research agreement (the “Sponsored Research Agreement”) with the
Regents of the University of California, on behalf of its San Francisco campus (the “UCSF”), pursuant to which UCSF’s
employee will conduct research on a project entitled “Investigation of 18F-fluorodeboronation method for PSMA targeting ligand
radiolabeling and evaluation in prostate cancer models” (the “Research Program”). Under the terms of the Sponsored
Research Agreement, the Company will bear the total cost of $0.3 million of the Research Program and has an exclusive license to the
intellectual property underlying the research. This Sponsored Research Agreement will be effective for a period of one year and may be
extended by written mutual consent of the parties. During the year ended December 31