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Shuttle Pharmaceuticals Holdings, Inc. (NASDAQ:SHPH), a Delaware-incorporated pharmaceutical company with a market capitalization of $2.47 million, has entered into a consulting agreement with Bowery Consulting Group Inc., as per a recent SEC filing. According to InvestingPro data, the company maintains a positive cash position relative to its debt obligations, though its overall financial health score indicates challenges. The agreement, effective from March 21, 2025, engages Bowery to provide a range of services aimed at enhancing Shuttle Pharmaceuticals’ business strategies.
Under the six-month contract, Bowery Consulting will conduct research, due diligence, and analysis to advise on the viability of Shuttle Pharmaceuticals’ prospective partnerships and plans for scaling its operations. This strategic move comes as the company faces significant market challenges, with InvestingPro analysis showing the stock has declined nearly 70% over the past six months. The consultant will develop market messaging, growth strategies, and capital raising tactics to potentially deliver significant returns and attract investors. Bowery will also suggest strategies for reducing costs associated with technology platform improvements and marketing expenditures.
Shuttle Pharmaceuticals has agreed to pay Bowery a fee of $260,000 for the services, with payment contingent upon the company’s full compliance with Nasdaq Listing Rules.
The partnership with Bowery Consulting represents a strategic move by Shuttle Pharmaceuticals to bolster its business and financial operations. The consulting agreement is detailed in Exhibit 10.1 of the 8-K filing, which serves as the source for this information.
In other recent news, Shuttle Pharmaceuticals Holdings, Inc. has announced a public offering of its common stock, aiming to raise approximately $5.75 million to fund Phase II clinical trials and other corporate purposes. This financial move is part of the company’s strategy to support its ongoing research and development efforts. Additionally, Shuttle Pharma has made significant progress in its Phase 2 clinical trial of Ropidoxuridine for glioblastoma treatment, reporting accelerated enrollment with 40% of the initial randomized portion completed. The company has also expanded its agreement with Theradex Systems, Inc. to increase the number of trial sites and patient count, enhancing its research capabilities.
In a strategic leadership update, Shuttle Pharma appointed Christopher Cooper as interim Co-CEO, joining Dr. Anatoly Dritschilo in a dual leadership structure aimed at strengthening business operations. The company also amended its agreement with Alto Opportunity (SO:FTCE11B) Master Fund, resulting in waived rights for Alto Fund to purchase additional notes and warrants, potentially simplifying Shuttle Pharma’s capital structure. These developments highlight Shuttle Pharma’s continued focus on enhancing cancer treatment outcomes through both therapeutic and diagnostic advancements.
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