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Shuttle Pharmaceuticals Holdings, Inc. (NASDAQ:SHPH) announced that Steven Richards resigned from its board of directors on August 31, 2025. According to a company statement included in a recent SEC filing, Richards’ resignation was not due to any disagreements with the company regarding its operations, policies, or practices.
Shuttle Pharmaceuticals , based in Gaithersburg, Maryland, reported the departure in a Form 8-K filed with the Securities and Exchange Commission. The company did not disclose plans for a replacement or further details regarding the board composition following Richards’ resignation.
This information is based on a press release statement included in the company’s SEC filing.
In other recent news, Shuttle Pharmaceuticals Holdings, Inc. has raised $4.25 million through a private placement agreement with an accredited investor. The company will issue 1,180,877 shares of common stock or pre-funded warrants at a price of $3.60 per share, set at-the-market under Nasdaq rules. Additionally, Shuttle Pharmaceuticals has announced a proposed 25-for-1 reverse stock split of its common stock, which is pending approval from Nasdaq. This reverse split is intended to reduce the company’s outstanding shares from approximately 26.2 million to about 1.05 million. The company has stated that this action is part of its strategic plan to maintain compliance with Nasdaq’s continued listing requirements. These developments reflect Shuttle Pharmaceuticals’ ongoing efforts to strengthen its financial position and adhere to regulatory standards.
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