Company: SHPH
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001641172-25-009325
Chunk: 3

Company: Shuttle Pharmaceuticals Holdings, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 2
Chunk 3
---
4, we submitted a plan to Nasdaq to regain compliance and Nasdaq subsequently granted us up until March
10, 2025 to regain compliance.

Following the Company’s March 2025 $5.75 million
equity financing, on March 14, 2025, Nasdaq acknowledged that we had regained compliance with the Listing Rule 5550(b)(1) but indicated
that if we fail to evidence compliance upon filing our next periodic report for the period ended March 31, 2025, we may be subject to
delisting. As evidenced herein, we continue to be in compliance with the Listing Rule 5550(b)(1). However, Nasdaq will continue to monitor
our ongoing compliance with the Minimum Equity Requirement and, subject to a determination that we are not in compliance, we may be subject
to delisting.

Results of Operations

Comparison of the three months ended March 31, 2025 and 2024

The following table summarizes the results of our operations:

    Three Months Ended  

    March 31,  

    2025  
    2024  
    Change  
    % 
  
    Revenue 
    $—  
    $—  
    $—  
     — 
  
    Operating expenses: 

    Research and development 
     1,573,928  
     586,104  
     987,824  
     169%
  
    General and administrative 
     596,886  
     324,609  
     272,277  
     84%
  
    Legal and professional 
     780,427  
     474,134  
     306,293  
     65%
  
    Total operating expenses and loss of operations 
     2,951,241  
     1,384,847  
     1,566,394  
     113%

    Other income (expense): 

    Interest expense - related parties 
     (5,395) 
     —  
     (5,395) 
     —%
  
    Interest expense 
     (6,535) 
     (497,515) 
     490,980  
     (99)%
  
    Interest income 
     —  
     21,453  
     (21,453) 
     (100)%
  
    Change in