Shuttle Pharma Announces Closing of $5.75 Million Underwritten Offering

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GAITHERSBURG, Md., March 13, 2025 (GLOBE NEWSWIRE) -- Shuttle Pharmaceuticals Holdings, Inc.(NASDAQ:SHPH) ("Shuttle Pharma"), a discovery and development stage specialty pharmaceutical company focused on improving outcomes for cancer patients treated with radiation therapy (RT), announced today the closing of its previously announced underwritten public offering of 19,166,667 shares of its common stock (or pre-funded warrants to purchase common stock in lieu thereof) at a public offering price of $0.30 per share (the "Offering").

Shuttle Pharma intends to use the net proceeds from the Offering to fund Shuttle Pharma's Phase II clinical trial for its lead product candidate, for marketing and advertising services, and for working capital and general corporate purposes.

The aggregate gross proceeds to Shuttle Pharma from the Offering was approximately $5.75 million, before deducting underwriting discounts and commissions and other offering expenses payable by Shuttle Pharma.

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Author / Journalist: Globe Newswire

Category: InvestingBusiness

Markets: United States

Topics: News SHPH Press Releases IPOs

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-03-13 @ 20:10:16 (1 days ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 840 words

Reading Time: 5 minutes read

Sentences: 28 lines

Sentence Length: 30 words per sentence (average)

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Copyright Owner: © Benzinga

News ID: 26969688

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