Company: SHPH
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001493152-25-008300
Chunk: 261

Company: Shuttle Pharmaceuticals Holdings, Inc.
Filing Date: 2025-02-26
Form: 10-K
Item: Item 1A
Chunk 261
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 regain compliance prior
to March 10, 2025, or if the Company fails to satisfy another Nasdaq requirement for continued listing, Nasdaq could provide notice that
the Company’s securities will become subject to delisting. In that event, the Company will have an opportunity to appeal Nasdaq’s
decision to a hearings panel.

58

Results
of Operations

Comparison
of the year ended December 31, 2024 and 2023

The
following table summarizes the results of our operations:

    Years Ended  

    December 31,  

    2024  
    2023  
    Change  
    % 
  
    Revenue 
    $—  
    $—  
    $—  
     — 
  
    Operating expenses: 

    Research and development 
     3,618,796  
     3,517,093  
     101,703  
     3%
  
    General and administrative 
     1,392,709  
     1,046,854  
     345,855  
     33%
  
    Legal and professional 
     2,684,665  
     1,328,435  
     1,356,230  
     102%
  
    Total operating expenses and loss of operations 
     7,696,170  
     5,892,382  
     1,803,788  
     31%

    Other income (expense): 

    Interest expense - related parties 
     (8,692) 
     (6,825) 
     (1,867) 
     27%
  
    Interest expense 
     (1,198,738) 
     (2,484,193) 
     1,285,455  
     (52)%
  
    Interest income 
     38,138  
     79,117  
     (40,979) 
     (52)%
  
    Finance fee 
     (152,726) 
     (104,245) 
     (48,481) 
     47%
  
    Change in fair value of derivative liabilities 
     555,789  
     2,216,488  
     (1,660,699) 
     (75)%
  
    Change in fair value of convertible notes