Shuttle Pharmaceuticals Holdings Inc 2025 Nian Du Ji bao gao

FORM10-Q (Mark One) SHUTTLE PHARMACEUTICALS HOLDINGS, INC. (Exact name of registrant as specified in its charter) Shuttle Pharmaceuticals Holdings, Inc. TABLE OF CONTENTS Part I. Financial Information Unaudited Condensed Consolidated Statements of Operations for the three months ended March 31, 2025 and 20244Unaudited Condensed Consolidated Statements of Changes in Stockholders’ Equity for the three months endedMarch 31, 2025 and 20245 Note 1 –Organization and Liquidity Organization and Line of Business Shuttle Pharmaceuticals Holdings, Inc. (“we,” “us,” “our,” or the “Company”) was originally formed as Shuttle Pharmaceuticals, LLCin the State of Maryland on December 18, 2012. On August 12, 2016, the Company filed articles of conversion with the State ofMaryland to convert from an LLC to a C corporation, at which time the Company changed its name to Shuttle Pharmaceuticals, Inc.(“Shuttle”). In connection with the conversion, the Company issued5,625,000shares of common stock in exchange for100% of theoutstanding membership interests in Shuttle prior to conversion. On June 4, 2018, Shuttle completed a reverse merger with ShuttlePharmaceuticals Holdings, Inc. (then known as Shuttle Pharma Acquisition Corp, Inc.), a Delaware corporation, pursuant to which The Company’s primary purpose is to develop and commercialize unique drugs for the sensitization of cancers and protection ofnormal tissues, with the goal of improving outcomes for cancer patients receiving radiation therapy. Shuttle has deployed itsproprietary technology to develop novel cancer immunotherapies, producing a pipeline of selective HDAC inhibitors for cancer andimmunotherapy applications. The Company’s HDAC platform is designed to target candidate molecules with potential roles intherapeutics beyond cancer, including autoimmune, inflammatory, metabolic, neurological and infectious diseases. The Company’sRopidoxuridine product, which is used with radiation therapy to sensitize cancer cells, was initially funded by a Small BusinessInnovation Research (“SBIR”) contract provided by the National Cancer Institute (“NCI”), a unit of the National Institutes of Health The production and marketing of the Company’s products and its ongoing research and development activities will be and are subjectto extensive regulation by numerous governmental authorities in the United States. Prior to marketing in the United States, anyproducts or combination of products developed by the Company must undergo rigorous preclinical (animal) and clinical (human) The Company’s success will depend in part on its ability to obtain patents and product license rights, maintain trade secrets, andoperate without infringing on the proprietary rights of others, both in the United States and in other countries. There can be no Liquidity and Going Concern Our unaudited condensed consolidated financial statements are prepared on a going concern basis, which contemplates the realizationof assets and the satisfaction of liabilities and commitments in the normal course of business. The Company has incurred losses sinceinception and has a net loss of approximately $3.0million andnorevenues for the three months ended March 31, 2025 and working In February 2025, the Company issued a revolving note in the principal amount of up to $2,000,000, which the Company may drawupon at its discretion from time to time. In March 2025, the Company completed an equity raise that provided $5.0million net cashproceeds for the issuance of1.3million shares and17.8million pre-funded warrants. However, the Company’s existing cash resources, The ability of the Company to continue as a going concern is dependent upon its ability to continue to successfully raise additionalequity or debt financing to allow it to fund ongoing operations, conduct clinical trials and bring a drug candidate to commercialization The accompanying unaudited condensed consolidated financial statements do not include any adjustments to reflect the future effectson the recoverability and classification of assets or the amounts and classification of liabilities if the Company is unable to continue as Note 2 –Summary of Significant Accounting Policies Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accountingprinciples generally accepted in the United States of America (“GAAP”) for interim financial statements and with the instructions toForm 10-Q and Rule 8-03 of Regulation S-X of the United States Securities and Exchange Commission (“SEC”). Accordingly, they do In the opinion of the Company’s management, the accompanying unaudited condensed consolidated financial statements contain all ofthe adjustments necessary to present the financial position of the Company as of March 31, 2025 and the results of operations and cashflows for the periods presented. The accompanying condensed consolidated financial statements of the Company have not bee