Shuttle Pharmaceuticals Holdings Announces Pricing of Public Offering
GAITHERSBURG, Md., March 12, 2025 – Shuttle Pharmaceuticals Holdings, Inc. (Shuttle Pharma), a pioneering specialty pharmaceutical company dedicated to enhancing cancer patient outcomes through radiation therapy, announced the pricing of a public offering of common stock. The offering involves the sale of 19,166,667 shares of common stock, or pre-funded warrants to purchase common stock in lieu thereof, at a public offering price of $0.30 per share.
Company Overview
Shuttle Pharma is a discovery and development-stage pharmaceutical company that specializes in improving outcomes for cancer patients undergoing radiation therapy. The company’s mission is to address the unmet medical needs of cancer patients by developing and commercializing novel therapeutics that enhance the efficacy of radiation therapy and reduce its side effects.
Financial Information
The offering is expected to generate gross proceeds of approximately $5.75 million for Shuttle Pharma before underwriting discounts and commissions and other estimated offering expenses. The closing of the offering is anticipated to occur on March 13, 2025, subject to customary closing conditions.
Impact on Shuttle Pharma
The proceeds from the offering will enable Shuttle Pharma to advance its clinical pipeline, including the ongoing clinical development of its lead product, SP-101, a novel formulation of topotecan for the treatment of small cell lung cancer. The funds will also be used for research and development activities, general and administrative expenses, and working capital and capital expenditures.
Global Implications
The successful completion of this offering represents a significant milestone for Shuttle Pharma as it continues to innovate and develop new therapeutics for cancer patients undergoing radiation therapy. This development could lead to improved cancer treatment outcomes, reduced side effects, and a potential shift in the standard of care for radiation therapy patients. Moreover, the company’s progress may inspire other pharmaceutical companies to invest in the research and development of novel therapeutics for radiation therapy, ultimately benefiting the global cancer community.
Conclusion
Shuttle Pharmaceuticals Holdings’ announcement of the pricing of its public offering marks a significant step forward in its mission to improve outcomes for cancer patients undergoing radiation therapy. The company’s commitment to advancing its clinical pipeline, particularly its lead product SP-101, could lead to groundbreaking advancements in cancer treatment and a potential shift in the standard of care for radiation therapy patients. The offering’s success may inspire other pharmaceutical companies to invest in the development of novel therapeutics for radiation therapy, ultimately benefiting the global cancer community.
- Shuttle Pharma announces pricing of public offering
- Proceeds to be used for clinical pipeline development and general expenses
- Lead product, SP-101, has potential to improve cancer treatment outcomes and reduce side effects
- Success may inspire other pharmaceutical companies to invest in radiation therapy therapeutics
