Company: SHPH
Filing Date: 2025-01-15
Form Type: S-1
Source: 0001493152-25-002253
Chunk: 111

Company: Shuttle Pharmaceuticals Holdings, Inc.
Filing Date: 2025-01-15
Form: S-1
Chunk 111
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 |   |      1,744 |   |     |   |     98,374 |   |     |     | 5,641 | %  |
| Change in fair value of marketable securities   |     |                   |    (71,568 | ) |     |   |     21,134 |   |     |   |    (92,702 | ) |     |     |  (439 | )% |
| Loss on settlement of convertible debt          |     |                   |   (833,501 | ) |     |   |   (477,221 | ) |     |   |   (356,280 | ) |     |     |   (75 | )% |
| Total other expense                             |     |                   | (1,627,286 | ) |     |   |   (342,665 | ) |     |   | (1,284,621 | ) |     |     |   375 | %  |
| Net loss                                        |     | $                 | (7,546,328 | ) |     | $ | (4,952,223 | ) |     | $ | (2,594,105 | ) |     |     |    52 | %  |

Research and Development.Research and development (“R&D”) expenses were $2.6 million for the nine months ended September 30, 2024, as compared to $2.8 million for nine months ended September 30, 2023. The decrease of $0.2 million, or 6%, is primarily related to the Company having completed production of the drug product in the prior period substantially offset by costs incurred for the start of work related to the initiation of trials in the current period.

| 70 |

R&D compensation related expenses were $0.9 million in the nine months ended September 30, 2024 as compared to $1.2 million in the nine months ended September 30, 2023. Compensation related expenses were 36% for the nine months ended September 30, 2024, representing a decrease from 42% of total R&D in the nine months ended September 30, 2023. Subcontract work made up 57% of total R&D expenses in the nine months ended September 30, 2024 and 53% of total R&D expenses during the nine months ended September 30, 2023.

General and Administrative Expenses.General and Administrative expenses in the nine