Company: SHPH
Filing Date: 2025-02-13
Form Type: S-1
Source: 0001493152-25-006202
Chunk: 113

Company: Shuttle Pharmaceuticals Holdings, Inc.
Filing Date: 2025-02-13
Form: S-1
Chunk 113
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| Cash provided by (used in) investing activities |     | $                 |  2,915,761 |   |     | $ | (2,916,760 | ) |     | $ |  5,832,521 |   |     |     | (200 | )% |
| Cash provided by (used in) financing activities |     | $                 |   (698,457 | ) |     | $ |  2,904,527 |   |     | $ | (3,602,984 | ) |     |     | (124 | )% |
| Cash on hand                                    |     | $                 |    156,652 |   |     | $ |  3,885,997 |   |     | $ | (3,729,345 | ) |     |     |  (96 | )% |

To date, we have not generated positive cash flows from operating activities. For the nine months ended September 30, 2024, and 2023, net cash flows used in operating activities were $4.6 million and $4.5 million, respectively, with a shift in 2024 from a majority of research and development activity costs in 2023 to additional administrative costs in 2024 associated with financing and financial reporting matters.

Cash Flows from Investing Activities

For the nine months ended September 30, 2024, we invested in trading marketable securities for $44 thousand and received $3.0 million in proceeds from disposition of marketable securities. For the nine months ended September 30, 2023, we invested in trading marketable securities for $3.0 million and received $80 thousand in proceeds from disposition of marketable securities and purchased $19 thousand of equipment.

Cash Flows from Financing Activities

For the nine months ended September 30, 2024, we paid $0.8 million related to payments on a convertible note and $0.1 million for finance costs, and received $0.3 million of proceeds from a related party notes payable. For the nine months ended September 30, 2023, we received a net of $3.6 million from the sale and issuance of convertible notes payable and warrants and repaid $0.7 million in related party notes payable.

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Results of Operations

Comparison of the year ended December 31, 2023 and 2022 (as restated)

The following table summarizes the results of our operations