Company: SHPH
Filing Date: 2025-01-24
Form Type: 424B3
Source: 0001493152-25-003508
Chunk: 106

Company: Shuttle Pharmaceuticals Holdings, Inc.
Filing Date: 2025-01-24
Form: 424B3
Chunk 106
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   |     |   |    (52,504 | ) |     |     | (547 | )% |
| Interest income                                 |     |                    |      2,524 |   |     |   |     20,765 |   |     |   |    (18,241 | ) |     |     |  (88 | )% |
| Change in fair value of derivative liabilities  |     |                    |    286,316 |   |     |   |    442,900 |   |     |   |   (156,584 | ) |     |     |  (35 | )% |
| Loss on settlement of convertible debt          |     |                    |   (762,186 | ) |     |   |    (43,414 | ) |     |   |   (718,772 | ) |     |     | 1656 | %  |
| Total other expense                             |     |                    |   (732,521 | ) |     |   |   (193,608 | ) |     |   |   (538,913 | ) |     |     |  278 | %  |
| Net loss                                        |     | $                  | (3,784,082 | ) |     | $ | (1,792,754 | ) |     | $ | (1,991,328 | ) |     |     |  111 | %  |

Research and Development.Research and development (“R&D”) expenses were $1.4 million for the three months ended September 30, 2024, as compared to $1.0 million for three months ended September 30, 2023. The increase of $0.4 million, or 34%, is primarily related to the Company having completed production of the drug product and the start of work related to the initiation of trials.

| 69 |

R&D compensation related expenses were $0.3 million in the three months ended September 30, 2024 as compared to $0.3 million in the three months ended September 30, 2023. Compensation related expenses were 22% for the three months ended September 30, 2024, representing a decrease from 29% of total R&D in the three months ended September 30, 2023. Subcontract work made up 73% of total R&D expenses in the three months ended September 30, 2024 and 65% of total R&D