Shuttle Pharma Announces Pricing of $5.75 Million Underwritten Offering

Core Viewpoint - Shuttle Pharmaceuticals Holdings, Inc. has announced a public offering of 19,166,667 shares at a price of $0.30 per share, aiming to raise approximately $5.75 million to fund its Phase II clinical trial and other corporate purposes [1][2]. Group 1: Offering Details - The public offering is priced at $0.30 per share, with expected gross proceeds of about $5.75 million before expenses [1]. - The offering is set to close on March 13, 2025, pending customary closing conditions [1]. - WestPark Capital, Inc. is acting as the Sole Book-Runner for the offering [2]. Group 2: Use of Proceeds - The net proceeds from the offering will be allocated to fund the Phase II clinical trial for the lead product candidate, marketing and advertising services, and general corporate purposes [2]. Group 3: Company Overview - Shuttle Pharmaceuticals, founded in 2012, focuses on improving outcomes for cancer patients undergoing radiation therapy by developing therapies that enhance the effectiveness of radiation while minimizing side effects [5]. - The company aims to increase cancer cure rates and improve patient quality of life through the development of radiation sensitizers [5].