Company: SHPH
Filing Date: 2025-02-27
Form Type: 424B3
Source: 0001493152-25-008474
Chunk: 125

Company: Shuttle Pharmaceuticals Holdings, Inc.
Filing Date: 2025-02-27
Form: 424B3
Chunk 125
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,875 | ) |
| Denominator:                                         |     |   |            |   |
| Weighted average common stock outstanding, basic     |     |   |  2,870,120 |   |
| Effect of dilutive securities:                       |     |   |            |   |
| Warrants                                             |     |   |     17,148 |   |
| Weighed average common stock outstanding, diluted    |     |   |  2,887,268 |   |
| Net loss per share, basic                            |     | $ |      (3.19 | ) |
| Net loss per share, diluted                          |     | $ |      (3.30 | ) |

| (1) |     | Includes only the                                                                                                    
 change in fair value of warrant liabilities for those warrants that were dilutive during the period (Alto Warrants). |

Note 11 – Manufacturing Agreement - Related Party

On September 14, 2022, the Company entered into a manufacturing agreement with TCG GreenChem, Inc. (“TCG GreenChem”), the U.S. subsidiary of TCG Lifesciences Pvt Ltd., a global contract research and manufacturing services company located in India. Dr. Chis Senanayake, one of the Company’s independent directors, is CEO and CSO of TCG GreenChem and CSO of TCG Lifesciences Pvt Ltd. TCG GreenChem was contracted for process research, development and cGMP compliant manufacture of IPdR. The Company paid TCG GreenChem a total of $1,096,370 during the year ended December 31, 2023, completing the contract. No costs were incurred during the year ended December 31, 2024 with this related party.

Note 12 – Income Taxes

The Company has no income tax expense or benefit for the years ended December 31, 2024 and 2023, since the Company has a full valuation allowance for the net operating loss carryforwards in these periods.

The Company recognizes tax benefits from uncertain tax positions only if it is more likely than not that the tax position will be sustained upon examination by the taxing authorities based on the technical merits of the position. The tax benefits recognized from such positions are estimated based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. There are no uncertain tax positions to be reported for the tax years 2024 and 2023.

| F-27 |

The Tax Cuts