Shuttle Pharma Announces Reverse Stock Split will Become Effective on June 16, 2025, at 12:01 a.m., Eastern Time
GAITHERSBURG, Md., June 12, 2025 (GLOBE NEWSWIRE) -- Shuttle Pharmaceuticals Holdings, Inc. (NASDAQ:SHPH) ("Shuttle Pharma" or the "Company"), a discovery and development stage specialty pharmaceutical company focused on improving outcomes for cancer patients treated with radiation therapy (RT) announces that the reverse stock split will become effective on June 16, 2025, at 12:01 a.m., Eastern Time. The Company's common stock will continue to trade on The Nasdaq Capital Market ("Nasdaq") under the existing symbol "SHPH" and will begin trading on a split-adjusted basis when the market opens on June 16, 2025. The new CUSIP number for the common stock following the reverse stock split will be 825693401.
At the effective time of the reverse stock split, every 25 shares of the Company's issued and outstanding common stock will be automatically reclassified and combined into 1 share of common stock. This will reduce the number of issued and outstanding shares of common stock from 26,210,037 shares to approximately 1,048,401 shares, without giving effect to rounding. The split will also apply to Company common stock issuable upon the exercise of the Company's outstanding RSU grants and warrants. No fractional shares will be issued; instead, any fractional entitlements will be rounded up to the next highest whole number at the participant level.
The reverse stock split is part of Shuttle's strategic plan to maintain compliance with Nasdaq's continued listing requirements, while also strengthening the Company's long-term capital structure.
About Shuttle Pharmaceuticals
Shuttle Pharma is a discovery and development stage specialty pharmaceutical company focused on improving the outcomes for cancer patients treated with radiation therapy (RT). Our mission is to improve the lives of cancer patients by developing therapies that are designed to maximize the effectiveness of RT while limiting the side effects of radiation in cancer treatment. Although RT is a proven modality for treating cancers, by developing radiation sensitizers, we aim to increase cancer cure rates, prolong patient survival and improve quality of life when used as a primary treatment or in combination with surgery, chemotherapy and immunotherapy. For more information, please visit our website at www.shuttlepharma.com.
Safe Harbor Statement
Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute "forward-looking statements." These statements include, but are not limited to, statements concerning the development of our company. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "will," "would" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including factors discussed in the "Risk Factors" section of Shuttle Pharma's Annual Report on Form 10-K for the year ended December 31, 2024, filed with the SEC on February 26, 2025, as well other SEC filings. Any forward-looking statements contained in this press release speak only as of the date hereof and, except as required by federal securities laws, Shuttle Pharmaceuticals specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.
Shuttle Pharmaceuticals
Chris Cooper
Chief Executive Officer
[email protected]
Investor Contacts
Lytham Partners, LLC
[email protected]
