Shuttle Pharma appoints new interim co-CEO

GAITHERSBURG, Md. - Shuttle Pharmaceuticals Holdings, Inc. (NASDAQ:SHPH), a company specializing in cancer treatment enhancement through radiation therapy, announced today the appointment of Christopher Cooper as interim Co-Chief Executive Officer. With a current market capitalization of $1.7 million and an overall "Weak" financial health score according to InvestingPro, the company faces significant challenges. Cooper joins Dr. Anatoly Dritschilo, who will continue his role as Co-CEO overseeing scientific and clinical trial activities.

Cooper brings over 27 years of management and finance experience to Shuttle Pharma. His background spans various industries, including oil and gas, telecommunications, and technology. Cooper’s appointment is part of a strategic move to bolster the company’s business operations and capital markets presence, coming at a critical time as the stock has declined over 87% in the past year.

The new Co-CEO structure is anticipated to facilitate parallel execution of research and development, regulatory compliance, and general business operations. Cooper expressed enthusiasm for joining Shuttle Pharma and contributing to the company’s mission to improve cancer treatment outcomes.

Shuttle Pharma, founded by Georgetown University Medical Center faculty, is currently conducting a key Phase 2 clinical trial of Ropidoxuridine for glioblastoma treatment. The company aims to enhance the effectiveness of radiation therapy while minimizing side effects. InvestingPro data shows the company maintains a healthy current ratio of 1.44 and holds more cash than debt on its balance sheet.

The press release includes forward-looking statements regarding the company’s development and the potential impact of Cooper’s appointment on achieving future milestones. Investors should note that the company’s next earnings report is scheduled for March 25, 2025. These statements are subject to various factors that could cause actual results to differ materially from expectations. For deeper insights into SHPH’s financial health and additional analysis, consider exploring InvestingPro, which offers 12 more exclusive tips about the company.

This announcement is based on a press release statement from Shuttle Pharmaceuticals Holdings, Inc.

In other recent news, Shuttle Pharmaceuticals Holdings, Inc. has made notable progress in its clinical and financial endeavors. The company has reported accelerated enrollment in its Phase 2 clinical trial for Ropidoxuridine, a treatment for glioblastoma, with 40% of the initial randomized portion completed. This trial, conducted at several prominent cancer centers, aims to determine the optimal dose for enhancing radiation therapy in glioblastoma patients. Additionally, Shuttle Pharmaceuticals has amended its agreement with Theradex Systems, Inc. to expand the trial, increasing the number of sites and participants to enhance data monitoring capabilities.

Furthermore, Shuttle Pharmaceuticals has entered into an amendment agreement with Alto Opportunity Master Fund, modifying a prior Securities Purchase Agreement. This amendment includes a $75,000 payment from Shuttle Pharmaceuticals in exchange for Alto Fund waiving its rights to purchase additional notes and warrants, as well as its participation in an upcoming securities offering. The company is also advancing its diagnostic efforts, entering a research agreement with the University of California, San Francisco, to develop a ligand for prostate-specific membrane antigen, which could serve both diagnostic and therapeutic purposes.

These developments highlight Shuttle Pharmaceuticals’ commitment to advancing its research and financial strategies. The company’s recent actions, including the amendment with Alto Fund and the expansion of its clinical trial, demonstrate a focused approach to enhancing its operational scope and capital structure. Investors can find further details in the company’s SEC filings and press releases.

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