Company: SHPH
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001493152-25-008300
Chunk: 975

Company: Shuttle Pharmaceuticals Holdings, Inc.
Filing Date: 2025-02-26
Form: 10-K
Item: Item 5
Chunk 975
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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, 2024, the Company made no payments nor incurred
any costs under the Sponsored Research Agreement.

Note
9 – Business Segment Information

The
Company operates as one operating segment with a focus on products designed to address the limitations of the current cancer therapies
as well as to extend to the new applications of radiation therapy. The CEO, as our chief operating decision maker (CODM), manages and
allocates resources to the operations of the Company on a consolidated basis, considering primarily research and development expenditures,
cash burn and net loss. This enables the CEO to assess our overall level of available resources and determine how best to deploy these
resources across products and research and development projects in line with the longer-term Company-wide strategic goals.

The
accounting policies of our reportable segment are the same as those described in the “Summary of Significant Accounting Policies”
for the Company. All costs, research and development expenses, general and administrative expenses, other operating expenses, interest
expense, depreciation, corporate overhead assets (workforce, intellectual property, etc.) are fully allocated to the Company’s
one segment. Significant segment expenses include payroll and costs incurred for the Company’s primary third-party contract research
organization (“CRO”). During the years ended December 31, 2024 and 2023, the Company incurred payroll expenses classified
in our consolidated statements of operations as research and development of $1.0
million and $1.3
million,
respectively. During the years ended December 31, 2024 and 2023, the