Company: SHPH
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001493152-25-008300
Chunk: 371

Company: Shuttle Pharmaceuticals Holdings, Inc.
Filing Date: 2025-02-26
Form: 10-K
Item: Item 1B
Chunk 371
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. Shuttle received approval from the FDA to begin the clinical trial. The FDA made recommendations to expand the clinical trial
to include a randomized dose “optimization” step and we agreed with the recommendation. Meetings with engaged clinical sites
to review the protocol documents have occurred and FDA required IRB approvals have been received. With FDA recommended changes incorporated
into the revised protocol and the completion of site initiation visits, the Company has commenced its Phase II clinical study. The radiation
biomarker project and the health disparities project have been completed and the Company is proceeding with plans for clinical validation
and potential for commercialization of Ropidoxuridine as a radiation sensitizer.

57

Nasdaq
Listing Compliance

On
December 31, 2024, the Company received a letter from the Nasdaq Listing Qualifications Staff of The Nasdaq Stock Market LLC (“Nasdaq”)
stating that for the 30 consecutive business day period between November 15, 2024 to December 30, 2024 the Company’s common stock
had failed to maintain a minimum closing bid price of $1.00 per share, as required for continued listing on The Nasdaq Capital Market
pursuant to Nasdaq Listing Rule 5550(a)(2) (the “Minimum Bid Price Requirement”). Pursuant to Nasdaq Listing Rule 5810(c)(3)(A),
the Company has until June 30, 2025 to regain compliance with the Minimum Bid Price Requirement. To regain compliance, the closing bid
price of the Company’s common stock must meet or exceed $1.00 per share for a minimum of 10 consecutive business days.

If
the Company cannot regain compliance during the Compliance Period by June 30, 2025, whether organically or by completing a reverse stock
split and subsequently trading above $1.00 per share for 10 consecutive trading days, Nasdaq will provide the Company with notice that
its common stock will be subject to delisting. At that time, the Company may appeal Nasdaq’s delisting determination to a Nasdaq
Hearings Panel.

Nasdaq’s
notice to the Company of noncompliance has no immediate effect on the listing of the Company’s common stock and its common stock
will continue to be listed on The Nasdaq Capital Market under the symbol “SHPH.” There can be no assurance that the Company
will regain compliance with the Minimum Bid Price Requirement or maintain compliance with any of the other Nasdaq continued listing requirements.
The