Company: SHPH
Filing Date: 2025-02-27
Form Type: 424B3
Source: 0001493152-25-008476
Chunk: 77

Company: Shuttle Pharmaceuticals Holdings, Inc.
Filing Date: 2025-02-27
Form: 424B3
Chunk 77
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&D programs during the year ended December 31, 2024 that resulted in increased cash expenditures. The Company’s current liabilities as of December 31, 2024 are primarily comprised of $0.7 million of convertible notes payable, $0.6 million of accounts payable and accrued expenses, $0.2 million of notes payable to related parties, and the current portion of our operating lease liability of $0.1 million. The increase in current liabilities is primarily due to an increase in accounts payable and accrued expenses of $0.2 million, notes payable to related parties of $0.2 million, and convertible note payable of $0.1 million, primarily attributable to our efforts to preserve cash while we strive to raise funds to finance ongoing business and operations.

Cash Flows

|                                       |     | Years Ended December 31, |            |   |     |      |            |   |     |        |            |   |     |   |     |    |
|                                       |     |                     2024 |            |   |     | 2023 |            |   |     | Change |            |   |     | % |     |    |
| Cash used in operating activities     |     |                          | (7,327,230 | ) |     |      | (5,581,147 | ) |     |        | (1,746,083 | ) |     |   |  31 | %  |
| Cash used in investing activities     |     |                          |  2,915,765 |   |     |      | (2,829,723 | ) |     |        |  5,745,488 |   |     |   | 100 | %  |
| Cash provided by financing activities |     |                          |  3,755,193 |   |     |      |  2,570,083 |   |     |        |  1,185,110 |   |     |   |  46 | %  |
| Cash and cash equivalents on hand     |     |                          |  1,920,144 |   |     |      |  2,576,416 |   |     |        |   (656,272 | ) |     |   | (25 | )% |

Cash Flows from Operating Activities

Our cash flows from operating activities are greatly influenced by our use of cash for operating expenses and working capital requirements to support the business. We have historically