Shuttle Pharmaceuticals (NASDAQ:SHPH) Faces Potential Delisting from Nasdaq due to Minimum Bid Price Requirement Noncompliance

Shuttle Pharmaceuticals Holdings, Inc. (NASDAQ:SHPH) recently disclosed in an 8-K filing that it received a letter from the Nasdaq Listing Qualifications Staff on December 31, 2024. The letter states that for a 30-day period between November 15, 2024, and December 30, 2024, the company’s common stock failed to maintain a minimum closing bid price of $1.00 per share, as required for continued listing on The Nasdaq Capital Market, following Nasdaq Listing Rule 5550(a)(2).

According to Nasdaq Listing Rule 5810(c)(3)(A), Shuttle Pharmaceuticals has until June 30, 2025, a 180-day Compliance Period, to regain compliance with the Minimum Bid Price Requirement. The company must achieve a closing bid price of $1.00 per share or higher for at least 10 consecutive business days within this period.

In the event that compliance is not achieved by the deadline, Shuttle Pharmaceuticals may qualify for an additional 180-day period if it meets the market value of publicly held shares and other listing standards for Nasdaq Capital Market, excluding the Minimum Bid Price Requirement. During this extension, the company may need to indicate its intent to rectify the deficiency by possibly implementing a reverse stock split.

Failure to regain compliance during the initial or extended period could result in a notice of delisting from Nasdaq. In such a scenario, the company has the option to appeal the delisting determination to a Nasdaq Hearings Panel.

The company clarified that Nasdaq’s notice of noncompliance does not affect the immediate listing status of Shuttle Pharmaceuticals on The Nasdaq Capital Market under the symbol “SHPH.” However, there is no guarantee of regaining compliance with the Minimum Bid Price Requirement or any other continued listing obligations. Shuttle Pharmaceuticals intends to vigilantly monitor its stock price and explore available alternatives to ensure compliance.

In a separate development, on January 7, 2025, the company announced that its CEO, Dr. Anatoly Dritschilo, will participate in a webcasted fireside chat at the Lytham Partners 2025 Investor Healthcare Summit on January 13, 2025. The discussion is expected to cover the company’s plans for 2025, including advancements in its Phase 2 Clinical Trial of Ropidoxuridine for glioblastoma patients.

Investors can access the webcast on the Lytham Partners conference homepage or through provided links. A replay of the chat will also be accessible via the same platforms. Further details can be obtained by contacting 1×[email protected].

Shuttle Pharmaceuticals, established in 2012, focuses on developing therapies to enhance outcomes for cancer patients undergoing radiation therapy. For additional information, visit www.shuttlepharma.com.

The company emphasizes caution regarding forward-looking statements and advises that actual results may vary from predictions due to various factors, including those detailed in its regulatory filings. Shuttle Pharmaceuticals commits to updating information responsibly according to legislative requirements.

Please note that the content of the press release has been included for reference alongside this report.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Shuttle Pharmaceuticals’s 8K filing here.

About Shuttle Pharmaceuticals

Shuttle Pharmaceuticals Holdings, Inc, a clinical stage pharmaceutical company, develops novel therapies to cure cancers. It develops Ropidoxuridine, an oral halogenated pyrimidine to treat patients with brain tumors and sarcomas SP-1-161, an HDAC inhibitor that initiates the mutated in ataxia-telangiectasia response pathway for radiation sensitizing cancer cells and protecting normal cells; SP-2-225, a pre-clinical class IIb that effects on the regulation of the immune system; and SP-1-303, a pre-clinical selective Class I HDAC for the treatment of ER positive cancers .