Company: SHPH
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001493152-25-008300
Chunk: 68

Company: Shuttle Pharmaceuticals Holdings, Inc.
Filing Date: 2025-02-26
Form: 10-K
Item: Item 1
Chunk 68
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December 31, 2024, the Company received a letter from Nasdaq stating that for the 30 consecutive business day period between November
15, 2024 to December 30, 2024 the Company’s common stock had failed to maintain a Minimum Bid Price Requirement of $1.00 per share,
as required for continued listing on The Nasdaq Capital Market pursuant to Nasdaq Listing Rule 5550(a)(2). Pursuant to Nasdaq Listing
Rule 5810(c)(3)(A), the Company has a grace period of 180 calendar days, or until June 30, 2025, 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.

Pursuant
the new Nadsaq Rule 5810, which does not allow for more than one reverse split in any 12 month period, because Shuttle Pharma
completed a 1-for-8 reverse stock split in August 2024, the Company must regain compliance with the Minimum Bid Price Requirement by
no later than June 30, 2025, as the Company is not eligible for an additional 180-day compliance period. As a result, if the
Company’s price per share does not organically increase to $1.00 or more prior to the end of May 2025, the Company will be
obligated, upon obtaining stockholder approval, to complete a reverse split in order to regain compliance with the Nasdaq Listing Requirements. If the Company cannot
regain compliance prior to June 30, 2025, Nasdaq will provide the Company with notice that its common stock will be subject to
delisting. At that time, the Company may appeal Nasdaq’s delisting determination to a Nasdaq Hearings Panel.

Nasdaq’s
notice to the Company of noncompliance has no immediate effect on the listing of the Company’s common stock and its common stock
will continue to be listed on The Nasdaq Capital Market under the symbol “SHPH.” There can be no assurance that the Company
will regain compliance with the Minimum Bid Price Requirement or maintain compliance with any of the other Nasdaq continued listing requirements.
The Company will continue to monitor the closing bid price of its common stock and may, if appropriate, consider available options to
regain compliance with the Minimum Bid Price Requirement.

In
addition, on