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SHUTTLE PHARMACEUTICALS HOLDINGS, INC.

NASDAQ: SHPH

Company: Shuttle Pharmaceuticals Holdings, Inc.
Ticker: Nasdaq: SHPH
Sector: Healthcare
Investor Contact: Robert Blum

Shuttle Pharmaceuticals Financials

Financials – Current & Historical

CONSOLIDATED BALANCE SHEETS
v3.25.0.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2024
Dec. 31, 2023
Current assets    
Cash and cash equivalents $ 1,920,144 $ 2,576,416
Prepaid expenses 290,773 114,473
Marketable securities 2,887,215
Accrued interest income 14,901
Total current assets 2,210,917 5,593,005
Property and equipment, net 19,364 24,827
Operating lease right-of-use asset 276,009 333,904
Total Assets 2,506,290 5,951,736
Current Liabilities    
Convertible notes payable, net 595,999
Operating lease liability 60,909 52,479
Total Current Liabilities 1,533,769 1,042,237
Convertible notes payable non-current, net 135,089
Derivative liabilities 25,281 414,512
Operating lease liability non-current 238,088 304,127
Total Liabilities 1,797,138 1,895,965
Commitments and contingencies (Note 8)
Stockholders’ Equity    
Series A Convertible Preferred Stock, $0.00001 par value; $1,000 per share liquidation value; 20,000,000 shares authorized; no shares outstanding
Common stock, $0.00001 par value; 100,000,000 shares authorized; 4,076,567 shares issued and outstanding at December 31, 2024; 2,008,689 shares issued and outstanding at December 31, 2023 41 20
Additional paid in capital 35,287,212 29,489,055
Accumulated deficit (34,578,101) (25,433,304)
Total Stockholders’ Equity 709,152 4,055,771
Total Liabilities and Stockholders’ Equity 2,506,290 5,951,736
Nonrelated Party [Member]    
Current Liabilities    
Accounts payable and accrued expenses 596,600 282,860
Accrued interest payable 110,453
Convertible notes payable, net – fair value option 478,120
Related Party [Member]    
Current Liabilities    
Accounts payable and accrued expenses 446
Accrued interest payable 1,785
Notes payable to related party 190,270
Convertible notes payable, net – fair value option $ 206,085
CONSOLIDATED BALANCE SHEETS (PARENTHETICAL)
v3.25.0.1
Consolidated Balance Sheets (Parenthetical) - $ / shares
Dec. 31, 2024
Dec. 31, 2023
Statement of Financial Position [Abstract]    
Preferred stock, par value $ 0.00001 $ 0.00001
Preferred stock, liquidation preference per share $ 1,000 $ 1,000
Preferred stock, shares authorized 20,000,000 20,000,000
Preferred stock, shares outstanding 0 0
Common stock, par value $ 0.00001 $ 0.00001
Common stock, shares authorized 100,000,000 100,000,000
Common stock, shares issued 4,076,567 2,008,689
Common stock, shares outstanding 4,076,567 2,008,689
CONSOLIDATED STATEMENTS OF INCOME
v3.25.0.1
Consolidated Statements of Operations - USD ($)
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Defined Benefit Plan Disclosure [Line Items]    
Revenue
Operating expenses    
Research and development, net of contract expense reimbursements 3,618,796 3,517,093
General and administrative 1,392,709 1,046,854
Legal and professional 2,684,665 1,328,435
Total operating expenses 7,696,170 5,892,382
Net loss from operations (7,696,170) (5,892,382)
Other income (expense)    
Interest income 38,138 79,117
Convertible notes finance fee (152,726) (104,245)
Change in fair value of derivative liabilities 555,789 2,216,488
Change in fair value of convertible notes 122,553
Gain on sale of marketable securities 28,550 4,970
Change in fair value of marketable securities 71,568
Loss on settlement of convertible debt (833,501) (477,221)
Total other income (expense) (1,448,627) (700,341)
Net loss $ (9,144,797) $ (6,592,723)
Weighted average common shares outstanding - basic 2,870,120 1,866,275
Net loss per shares - basic $ (3.19) $ (3.53)
Weighted average common shares outstanding - diluted 2,887,268 1,866,275
Net loss per shares - diluted $ (3.30) $ (3.53)
Related Party [Member]    
Other income (expense)    
Interest expense $ (8,692) $ (6,825)
Nonrelated Party [Member]    
Other income (expense)    
Interest expense $ (1,198,738) $ (2,484,193)
CONSOLIDATED STATEMENTS OF CASH FLOWS
v3.25.0.1
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (9,144,797) $ (6,592,723)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 5,463 6,811
Change in fair value of derivative liabilities (555,789) (2,216,488)
Amortization of debt discount and finance fees 1,079,444 2,123,049
Gain on marketable securities (28,550) (4,970)
Change in fair value of marketable securities (71,568)
Accrued interest settled with common stock 54,670 294,927
Loss on settlement of convertible debt 833,501 477,221
Stock-based compensation 259,744 181,960
Expense for debt issuance costs due to fair value election on convertible notes 107,491
Expense for issuance costs due to liability classified warrants 28,477
Loss on issuance of convertible notes – fair value option 16,758
Change in fair value of convertible notes (122,553)
Changes in operating assets and liabilities:    
Accrued interest income 14,901 (14,901)
Prepaid expenses (176,300) 46,675
Accounts payable and accrued expenses 313,741 166,115
Accounts payable and accrued expenses - related parties (446) (12,054)
Accrued interest payable (15,056) 110,453
Accrued interest payable - related parties 1,785 (98,135)
Other assets 6,480
Change in operating lease asset and liabilities 286 16,001
Net cash used in operating activities (7,327,230) (5,581,147)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Investment in marketable securities (43,587) (2,998,572)
Proceeds from disposition of marketable securities 2,959,352 187,895
Purchase of equipment (19,046)
Net cash provided by (used in) investing activities 2,915,765 (2,829,723)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from note payable-related party 250,000
Repayment of note payable-related party (59,730) (685,473)
Proceeds from convertible notes payable 790,000 3,935,000
Proceeds from issuance of common stock, warrants and pre-funded warrants, net of placement agent fees of $504,770 3,992,675
Payment of other issuance costs for issuance of common stock and equity-classified warrants (235,707)
Payment for issuance costs related to liability-classified warrants (28,477)
Proceeds from exercise of pre-funded warrants 729 (345,000)
Payment for convertible notes finance costs (107,491) (334,444)
Payment of convertible note payable (846,806)
Net cash provided by financing activities 3,755,193 2,570,083
Net change in cash and cash equivalents (656,272) (5,840,787)
Cash and cash equivalents, beginning of period 2,576,416 8,417,203
Cash and cash equivalents, end of period 1,920,144 2,576,416
Cash paid for:    
Interest 86,589 164,807
Income taxes
Supplemental non-cash financing activities:    
Common stock issued for settlement of debt 1,947,294 2,697,849
Warrants issued for financing fees, net of issuance fees of $0 and $8,727, respectively 90,816
Initial recognition of right of use asset and liability $ 365,556
CONSOLIDATED STATEMENTS OF CASH FLOWS (PARENTHETICAL)
v3.25.0.1
Consolidated Statements of Cash Flows (Parenthetical) - USD ($)
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Statement of Cash Flows [Abstract]    
Placement agent fees $ 504,770 $ 504,770
Warrants issuance fees $ 0 $ 8,727

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