Company: SHPH
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001493152-25-008300
Chunk: 1031

Company: Shuttle Pharmaceuticals Holdings, Inc.
Filing Date: 2025-02-26
Form: 10-K
Item: Item 6
Chunk 1031
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%
  
    Gain on sale of marketable securities 
     28,550  
     4,970  
     23,580  
     474%
  
    Change in fair value of marketable securities 
     — 
     71,568  
     (71,568) 
     (100)%
  
    Loss on settlement of convertible debt 
     (833,501) 
     (477,221) 
     (356,280) 
     75%
  
    Total other expense 
     (1,448,627) 
     (700,341) 
     (748,286) 
     107%
  
    Net loss 
    $(9,144,797) 
    $(6,592,723) 
     (2,552,074) 
     39%

Research
and Development. Total research and development (“R&D”) expense was $3.6 million for the year ended December 31,
2024, as compared to $3.5 million for the year ended December 31, 2023. The increase in total R&D expense of $0.1 million, or 3%,
is primarily related to the Company having completed production of the drug product and the start of work related to the initiation of
trials including contract research organization (“CRO”) expenses, clinical trial sites, other regulatory activities.

R&D
compensation related expenses were $1.3 million in the year ended December 31, 2024 as compared to $1.5 million in the year ended December
31, 2023. For the year ended December 31, 2024, R&D compensation related expenses was 35% as a percent of total R&D expense,
representing a decrease from the 43% of total R&D incurred in the year ended December 31, 2023. Subcontractor expense made up 60%
of total R&D expenses in the year ended December 31, 2024 and 52% of total R&D expenses during the year ended December 31, 2023.

General
and Administrative Expenses. General and Administrative expenses in the year ended December 31, 2024 increased by $0.3 million, or
33%, from $1.0 million in the year ended December 31, 2023 to $1.4 million in the year ended December 31, 2024. The increase