Company: SHPH
Filing Date: 2025-02-13
Form Type: S-1
Source: 0001493152-25-006202
Chunk: 108

Company: Shuttle Pharmaceuticals Holdings, Inc.
Filing Date: 2025-02-13
Form: S-1
Chunk 108
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 our public filing requirements, reaudits, contracts, and financing related work.

Other Income Expense. Other expense was $0.7 million for the three months ended September 30, 2024, which consisted primarily of $0.3 million in interest expense on convertible loans, loss on settlement of debt of $0.8 million, and a gain on change in fair value of derivative liabilities of $0.3 million. Other expense was $0.2 million for the three months ended September 30, 2023, which consisted primarily of $0.4 million in interest expense on convertible loans, loss on settlement of convertible debt of $0.8 million, and a gain on change in fair value of derivative liabilities of $0.4 million. The $0.4 million gain in fair value of derivative liability resulted from the fair value measurement using the Monte Carlo pricing model and the impact of the decrease in the market price of warrant shares. These amounts were largely attributable to the Alto Convertible Note conversions and cash management activities.

Comparison of the nine months ended September 30, 2024 and 2023

The following table summarizes the results of our operations:

|                                                 |     | Nine Months Ended 
 September 30,     |       2024 |   |     |   |       2023 |   |     |   |     Change |   |     |     |     % |    |
|:------------------------------------------------|:----|:------------------|-----------:|:--|:----|:--|-----------:|:--|:----|:--|-----------:|:--|:----|:----|------:|:---|
| Revenue                                         |     | $                 |          - |   |     | $ |          - |   |     | $ |          - |   |     |     |     - |    |
| Operating expenses:                             |     |                   |            |   |     |   |            |   |     |   |            |   |     |     |       |    |
| Research and development                        |     |                   |  2,632,387 |   |     |   |  2,806,644 |   |     |   |   (174,257 | ) |     |     |    (6 | )% |
| General and administrative                      |     |                   |    963,642 |   |     |   |    730,186 |   |     |