Company: SHPH
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001493152-25-008300
Chunk: 536

Company: Shuttle Pharmaceuticals Holdings, Inc.
Filing Date: 2025-02-26
Form: 10-K
Item: Item 1C
Chunk 536
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3, the Company incurred third-party CRO expenses of $2.1
million
and $0.1
million,
respectively, all of which is classified in our consolidated statements of operations as research and development. All other operating
expenses in our consolidated statements of operations are characterized as other segment expenses which, after factoring in other income
and expenses, reconcile to net loss for each period. The Company’s reportable segment’s profit or loss, assets, significant
expenses and other specified items are consistent with the financial information disclosed in our consolidated financial statements.
See the consolidated financial statements for the financial information of the Company’s one segment.

    F-26

Note
10 – Net Loss Per Share

The
calculation of basic and diluted earnings per common share is as follows (in thousands, except per share amounts):

 Schedule
of Earnings Per Share Basic and Diluted

    Numerator: 

    Net Loss, basic 
    $(9,144,797)
  
    Less: Change in fair value of warrant liabilities(1) 
     (395,078)
  
    Net Loss, diluted 
    $(9,539,875)

    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