Shuttle Pharmaceuticals Reports $3.05 Million Net Loss and Increased R&D Expenses for Q1 2025

Shuttle Pharmaceuticals Holdings, Inc. reported a net loss of approximately $3.05 million for the three months ended March 31, 2025, compared to a net loss of $1.73 million for the same period in 2024, marking a 76% increase in losses year-over-year. The company did not generate any revenue during this period. Total operating expenses surged to $2.95 million, up from $1.38 million in the prior year, driven primarily by increased research and development costs, which rose by 169% to $1.57 million. General and administrative expenses also increased by 84% to $596,886, reflecting higher costs associated with stock-based compensation and marketing efforts.

In terms of financial position, Shuttle Pharmaceuticals reported total current assets of $4.96 million as of March 31, 2025, a significant increase from $2.21 million at the end of 2024. This growth was largely attributed to a successful equity financing completed in March 2025, which raised approximately $5.0 million in net proceeds from the issuance of 1.34 million shares of common stock and pre-funded warrants. Current liabilities also increased to $1.78 million from $1.53 million, resulting in a working capital of $3.18 million, a substantial rise from $677,148 at the end of the previous fiscal year.

Strategically, the company has made notable advancements in its research and development initiatives, particularly with its lead product, Ropidoxuridine, which is being developed as a radiation sensitizer for cancer treatment. The company has completed a Phase I clinical trial and is now progressing into Phase II trials, with the FDA's approval for the clinical study. Additionally, Shuttle Pharmaceuticals has engaged in a consulting agreement with Bowery Consulting Group to assist with growth strategies and capital raising efforts, reflecting its commitment to enhancing operational capabilities.

Operationally, the company has seen a significant increase in its employee headcount, which is indicative of its expanding research and development activities. The increase in R&D expenses is also reflective of the company's focus on advancing its clinical trials and regulatory activities. As of March 31, 2025, the company had approximately $4.51 million in cash and cash equivalents, a substantial increase from $1.92 million at the end of 2024, providing a stronger liquidity position to support ongoing operations.

Looking ahead, Shuttle Pharmaceuticals faces challenges in maintaining compliance with Nasdaq listing requirements, particularly regarding its stock price and equity levels. The company is actively seeking to regain compliance by potentially implementing another reverse stock split if necessary. Management has expressed that the ability to continue as a going concern is contingent upon successfully raising additional equity or debt financing to fund ongoing operations and clinical trials. The company remains focused on its strategic objectives to develop innovative cancer therapies while navigating the complexities of its financial and operational landscape.