Shuttle Pharma Announces Closing of $5.75 Million Underwritten Offering

Core Viewpoint - Shuttle Pharmaceuticals Holdings, Inc. has successfully closed a public offering of 19,166,667 shares at a price of $0.30 per share, raising approximately $5.75 million in gross proceeds before expenses [1][2]. Group 1: Offering Details - The public offering consisted of common stock and pre-funded warrants, with the total gross proceeds amounting to about $5.75 million [1]. - The offering was conducted on a firm commitment basis, with WestPark Capital, Inc. serving as the Sole Book-Runner [2]. Group 2: Use of Proceeds - The net proceeds from the offering will be allocated to fund a Phase II clinical trial for the company's lead product candidate, as well as for marketing, advertising services, working capital, and general corporate purposes [2]. Group 3: Company Background - Shuttle Pharmaceuticals, founded in 2012 by faculty members of Georgetown University Medical Center, focuses on improving outcomes for cancer patients undergoing radiation therapy [5]. - The company's mission is to enhance the effectiveness of radiation therapy while minimizing side effects, aiming to increase cancer cure rates and improve patient quality of life [5].