Company: SHPH
Filing Date: 2025-02-13
Form Type: S-1
Source: 0001493152-25-006202
Chunk: 106

Company: Shuttle Pharmaceuticals Holdings, Inc.
Filing Date: 2025-02-13
Form: S-1
Chunk 106
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4, the Company, received a letter from The Nasdaq stating that for the 30 consecutive business day period between November 15, 2024 to December 30, 2024 the Company’s common stock 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 an initial period of 180 calendar days, or until June 30, 2025 (the “Compliance Period”), 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.

Results of Operations

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

The following table summarizes the results of our operations:

|                                                 |     | Three Months Ended 
 September 30,      |       2024 |   |     |   |       2023 |   |     |   |     Change |   |     |     |    % |    |
|:------------------------------------------------|:----|:-------------------|-----------:|:--|:----|:--|-----------:|:--|:----|:--|-----------:|:--|:----|:----|-----:|:---|
| Revenue                                         |     | $                  |          - |   |     | $ |          - |   |     | $ |          - |   |     |     |    - |    |
| Operating expenses:                             |     |                    |            |   |     |   |            |   |     |   |            |   |     |     |      |    |
| Research and development                        |     |                    |  1,400,564 |   |     |   |  1,045,177 |   |     |   |    355,387 |   |     |     |   34 | %  |
| General and administrative                      |     |                    |    328,995 |   |     |   |    265,553 |   |     |   |     63,442 |   |     |     |   24 | %  |
| Legal and professional                          |     |