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Shuttle Pharma Announces Reverse Stock Split will Become Effective on June 16, 2025, at 12:01 a.m., Eastern Time
Globenewswire· 2025-06-12 16:00
Group 1 - Shuttle Pharmaceuticals Holdings, Inc. will implement a reverse stock split effective June 16, 2025, at 12:01 a.m. Eastern Time, with the common stock continuing to trade under the symbol "SHPH" on Nasdaq [1][2] - The reverse stock split will convert every 25 shares of the Company's common stock into 1 share, reducing the total number of outstanding shares from approximately 26,210,037 to about 1,048,401 shares [2] - This action is part of Shuttle's strategic plan to comply with Nasdaq's continued listing requirements and to strengthen the Company's long-term capital structure [3] Group 2 - Shuttle Pharmaceuticals is focused on improving outcomes for cancer patients undergoing radiation therapy by developing therapies that enhance the effectiveness of radiation while minimizing side effects [4] - The Company aims to increase cancer cure rates, prolong patient survival, and improve quality of life through the development of radiation sensitizers, which can be used alone or in combination with other treatments [4]
Shuttle Pharma Announces Proposed Reverse Stock Split as Part of Strategic Nasdaq Compliance Initiative
Globenewswire· 2025-06-12 12:30
Core Viewpoint - Shuttle Pharmaceuticals Holdings, Inc. has announced a proposed reverse stock split of its common stock at a ratio of 25-for-1, subject to Nasdaq approval, aimed at maintaining compliance with listing requirements and strengthening its capital structure [1][3]. Group 1: Reverse Stock Split Details - At the effective time of the reverse stock split, every 25 shares of the Company's common stock will be combined into 1 share, reducing the total number of shares from 26,210,037 to approximately 1,048,401 shares [2]. - The reverse stock split will also apply to common stock issuable upon the exercise of outstanding RSU grants and warrants, with no fractional shares issued; fractional entitlements will be rounded up to the next highest whole number [2]. Group 2: Company Overview - Shuttle Pharmaceuticals is a discovery and development stage specialty pharmaceutical company focused on improving outcomes for cancer patients treated with radiation therapy [4]. - The Company's mission is to enhance the effectiveness of radiation therapy while minimizing side effects, aiming to increase cancer cure rates, prolong patient survival, and improve quality of life [4].