Company: SHPH
Filing Date: 2025-02-27
Form Type: 424B3
Source: 0001493152-25-008476
Chunk: 76

Company: Shuttle Pharmaceuticals Holdings, Inc.
Filing Date: 2025-02-27
Form: 424B3
Chunk 76
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 Ropidoxuridine and the enrollment of the first three patients.

The ability of the Company to continue as a going concern is dependent upon its ability to continue to successfully raise additional equity or debt financing to allow it to fund ongoing operations, conduct clinical trials and bring a drug candidate to commercialization to generate revenues. These conditions raise substantial doubt about the Company’s ability to continue as a going concern within one year after the date that the consolidated financial statements are issued.

Balance Sheet Data:

|                     |     | 2024 | December 31, |     | 2023 | December 31, |     | Change |            |   |     | % |     |    |
|:--------------------|:----|:-----|-------------:|:----|:-----|-------------:|:----|:-------|-----------:|:--|:----|:--|----:|:---|
| Current assets      |     | $    |    2,210,917 |     | $    |    5,593,005 |     | $      | (3,382,088 | ) |     |   | (60 | )% |
| Current liabilities |     |      |    1,533,769 |     |      |    1,042,237 |     |        |    491,532 |   |     |   |  47 | %  |
| Working capital     |     | $    |      677,148 |     | $    |    4,550,768 |     | $      | (3,873,620 | ) |     |   | (85 | )% |

| 60 |

As of December 31, 2024, total current assets were $2.2 million and total current liabilities were $1.5 million, resulting in working capital of $0.7 million. As of December 31, 2023, total current assets were $5.6 million and total current liabilities were $1.0 million, resulting in a working capital of $4.6 million. The Company’s current assets as of December 31, 2024 are comprised of $1.9 million of cash and cash equivalents and $0.3 million of prepaid expenses, with the decrease from December 31, 2023 being primarily due to ongoing cash burn from our R&D programs, filing expenses, reaudits, and general operations.

In addition, we continued progress on our R