Shuttle Pharma Announces Closing of $5.75 Million Underwritten Offering
Shuttle Pharmaceuticals Holdings (Nasdaq: SHPH) has successfully closed its previously announced underwritten public offering, raising $5.75 million in gross proceeds through the sale of 19,166,667 shares of common stock at $0.30 per share.
The company plans to utilize the net proceeds to fund its Phase II clinical trial for its lead product candidate, marketing and advertising services, and working capital. The offering was conducted on a firm commitment basis with WestPark Capital acting as the Sole Book-Runner.
Shuttle Pharma, founded in 2012 by Georgetown University Medical Center faculty members, focuses on developing radiation sensitizers to improve outcomes for cancer patients treated with radiation therapy (RT). Their mission aims to enhance cancer cure rates while limiting radiation side effects when used as primary treatment or in combination with other therapies.
Shuttle Pharmaceuticals Holdings (Nasdaq: SHPH) ha concluso con successo la sua offerta pubblica sottoscritta precedentemente annunciata, raccogliendo 5,75 milioni di dollari in proventi lordi attraverso la vendita di 19.166.667 azioni di azioni ordinarie a 0,30 dollari per azione.
L'azienda prevede di utilizzare i proventi netti per finanziare il suo trial clinico di Fase II per il suo principale candidato prodotto, servizi di marketing e pubblicità, e capitale circolante. L'offerta è stata condotta su base di impegno fermo con WestPark Capital che ha agito come Sole Book-Runner.
Shuttle Pharma, fondata nel 2012 da membri del corpo docente del Georgetown University Medical Center, si concentra sullo sviluppo di sensibilizzatori alla radiazione per migliorare i risultati per i pazienti oncologici trattati con terapia radiante (RT). La loro missione mira a migliorare i tassi di guarigione del cancro limitando al contempo gli effetti collaterali delle radiazioni quando utilizzate come trattamento primario o in combinazione con altre terapie.
Shuttle Pharmaceuticals Holdings (Nasdaq: SHPH) ha cerrado con éxito su oferta pública suscrita previamente anunciada, recaudando 5.75 millones de dólares en ingresos brutos a través de la venta de 19,166,667 acciones de acciones ordinarias a 0.30 dólares por acción.
La compañía planea utilizar los ingresos netos para financiar su ensayo clínico de Fase II para su principal candidato a producto, servicios de marketing y publicidad, y capital de trabajo. La oferta se llevó a cabo sobre la base de compromiso firme con WestPark Capital actuando como Sole Book-Runner.
Shuttle Pharma, fundada en 2012 por miembros de la facultad del Georgetown University Medical Center, se centra en el desarrollo de sensibilizadores a la radiación para mejorar los resultados de los pacientes con cáncer tratados con terapia de radiación (RT). Su misión es mejorar las tasas de curación del cáncer mientras se limitan los efectos secundarios de la radiación cuando se utiliza como tratamiento primario o en combinación con otras terapias.
Shuttle Pharmaceuticals Holdings (Nasdaq: SHPH)는 이전에 발표한 공모를 성공적으로 마감하고 575만 달러의 총 수익을 19,166,667주의 보통주를 주당 0.30달러에 판매하여 확보했습니다.
회사는 순수익을 사용하여 주요 제품 후보의 2상 임상 시험, 마케팅 및 광고 서비스, 운영 자본을 지원할 계획입니다. 이번 공모는 WestPark Capital이 단독 북러너로 활동하며 확정 약정 기반으로 진행되었습니다.
Shuttle Pharma는 2012년에 Georgetown University Medical Center의 교수들에 의해 설립되었으며, 방사선 요법(RT)을 받는 암 환자의 치료 결과를 개선하기 위한 방사선 감작제를 개발하는 데 주력하고 있습니다. 그들의 사명은 암 치료율을 높이는 동시에 주요 치료로 사용되거나 다른 치료와 병행할 때 방사선의 부작용을 제한하는 것입니다.
Shuttle Pharmaceuticals Holdings (Nasdaq: SHPH) a réussi à clôturer son offre publique souscrite précédemment annoncée, levant 5,75 millions de dollars de produits bruts grâce à la vente de 19.166.667 actions ordinaires à 0,30 dollar par action.
L'entreprise prévoit d'utiliser les produits nets pour financer son essai clinique de Phase II pour son principal candidat de produit, des services de marketing et de publicité, et du fonds de roulement. L'offre a été réalisée sur une base d'engagement ferme avec WestPark Capital agissant en tant que Sole Book-Runner.
Shuttle Pharma, fondée en 2012 par des membres du corps professoral du Georgetown University Medical Center, se concentre sur le développement de sensibilisateurs à la radiation pour améliorer les résultats des patients atteints de cancer traités par radiothérapie (RT). Leur mission vise à améliorer les taux de guérison du cancer tout en limitant les effets secondaires des radiations lorsqu'elles sont utilisées comme traitement principal ou en combinaison avec d'autres thérapies.
Shuttle Pharmaceuticals Holdings (Nasdaq: SHPH) hat erfolgreich seine zuvor angekündigte öffentliche Platzierung abgeschlossen und 5,75 Millionen Dollar an Bruttoerlösen durch den Verkauf von 19.166.667 Aktien zu einem Preis von 0,30 Dollar pro Aktie erzielt.
Das Unternehmen plant, die Nettomittel für die Finanzierung seiner Phase-II-Studie für den Hauptproduktkandidaten, Marketing- und Werbedienstleistungen sowie Betriebskapital zu verwenden. Die Platzierung wurde auf der Grundlage einer festen Zusage durchgeführt, wobei WestPark Capital als Sole Book-Runner fungierte.
Shuttle Pharma, 2012 von Mitgliedern der Fakultät des Georgetown University Medical Center gegründet, konzentriert sich auf die Entwicklung von Strahlensensibilisatoren zur Verbesserung der Ergebnisse für Krebspatienten, die mit Strahlentherapie (RT) behandelt werden. Ihre Mission zielt darauf ab, die Heilungsraten von Krebs zu erhöhen und gleichzeitig die Nebenwirkungen der Strahlung zu begrenzen, wenn sie als primäre Behandlung oder in Kombination mit anderen Therapien eingesetzt wird.
- Successfully raised $5.75 million in gross proceeds
- Funding secured for Phase II clinical trial advancement
- Offering conducted on firm commitment basis
- Significant shareholder dilution with 19.17M new shares issued
- Low offering price at $0.30 per share indicates weak market position
Insights
Shuttle Pharmaceuticals' $5.75 million capital raise represents a significant financial development for this small-cap biopharma firm with critical implications for both balance sheet strength and shareholder value.
The offering structure reveals important insights: priced at $0.30 per share, representing a substantial 31% discount to the current market price of $0.4354. This deep discount signals challenging capital-raising conditions and investor risk perception around the company's clinical-stage assets.
This financing introduces substantial dilution - with 19.16 million new shares being issued against Shuttle's small market cap of approximately $1.55 million, existing shareholders face significant ownership percentage reduction. However, this fresh capital provides essential runway to advance their radiation sensitizer programs, particularly funding their Phase II clinical trial.
The firm commitment underwriting structure (versus a best efforts offering) provides some reassurance, as WestPark Capital has purchased all shares outright rather than just agreeing to attempt placement.
For a clinical-stage pharmaceutical company with no revenue-generating products, securing operating capital is essential for survival and advancing through development milestones. This offering simultaneously addresses Shuttle's immediate capital needs while creating share dilution challenges that may impact valuation metrics moving forward.
This financing milestone provides Shuttle Pharmaceuticals important resources to advance its radiation sensitizer platform through the critical Phase II stage. The $5.75 million raised addresses the immediate funding gap for their lead candidate's clinical progression, which represents the company's most significant value-creation opportunity.
Radiation sensitizers represent an important therapeutic approach for improving radiation therapy outcomes by enhancing cancer cell susceptibility to radiation damage while potentially allowing for dose modification that preserves healthy tissue. This approach targets a substantial market opportunity, as approximately 60% of cancer patients receive radiation therapy during their treatment journey.
The Phase II trial this funding enables will generate preliminary efficacy signals beyond the safety data from earlier studies - a critical inflection point for determining whether Shuttle's technology demonstrates meaningful clinical benefit. Positive Phase II data would significantly de-risk the program and potentially position the company for partnership opportunities with larger pharmaceutical companies.
While the financing terms reflect the challenging funding environment for early-stage biotechs without revenue, the successful close provides essential operational runway. The additional allocation toward marketing suggests preparation for increased visibility of trial results and potential partnership outreach. The firm commitment structure of this offering provides additional validation of institutional interest in Shuttle's scientific approach despite the dilutive impact on current shareholders.
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
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 Offering was conducted on a firm commitment basis. WestPark Capital, Inc. acted as the Sole Book-Runner in connection with the Offering.
The securities described above are being offered pursuant to a registration statement on Form S-1 (File No. 333-284889), which was declared effective by the Securities and Exchange Commission (the “SEC”) on March 7, 2025. The Offering is being made only by means of a written prospectus that forms a part of the registration statement. A final prospectus relating to the Offering has been filed with the SEC and is available on the SEC’s website. Copies of the final prospectus relating to the Offering may be obtained from WestPark Capital, Inc., 1800 Century Park East, Suite 220, Los Angeles, CA 90077, tel: 310-203-2919, e-mail: jstern@wpcapital.com.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
About Shuttle Pharmaceuticals
Founded in 2012 by faculty members of the Georgetown University Medical Center, 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. The reader is cautioned not to rely on such forward-looking statements. Such forward-looking statements relate to future events or our future performance. In evaluating these forward-looking statements, you should consider various factors, including our expectations regarding the success and/or completion of our Phase 2 clinical trials; our success in completing any newly initiated clinical trials, commencing new trials and obtaining regulatory approval following such trials; challenges and uncertainties inherent in product research and development; the uncertainty regarding future commercial success; risks and uncertainties associated with market conditions and the Company’s ability to satisfy the closing conditions related to the Offering. These and other factors may cause our actual results to differ materially from any forward-looking statements. Forward-looking statements are only predictions and 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 and Shuttle Pharma’s Prospectus filed with the SEC on March 13, 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
Anatoly Dritschilo, M.D., CEO
240-403-4212
info@shuttlepharma.com
Investor Contacts
Lytham Partners, LLC
Robert Blum
602-889-9700
shph@lythampartners.com
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