Shuttle Pharmaceuticals Faces Delisting Concerns
Ticker: SHPH · Form: 8-K · Filed: Mar 5, 2024 · CIK: 1757499
| Field | Detail |
|---|---|
| Company | Shuttle Pharmaceuticals Holdings, Inc. (SHPH) |
| Form Type | 8-K |
| Filed Date | Mar 5, 2024 |
| Risk Level | high |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.00001, $1.00 |
| Sentiment | bearish |
Sentiment: bearish
Topics: delisting, listing-standards, regulatory
TL;DR
Shuttle Pharma might get delisted - stock could tank.
AI Summary
Shuttle Pharmaceuticals Holdings, Inc. filed an 8-K on March 5, 2024, reporting a notice of delisting or failure to satisfy a continued listing rule or standard as of February 29, 2024. The filing also includes other events and financial statements and exhibits. The company's principal executive offices are located at 401 Professional Drive, Suite 260, Gaithersburg, MD 20879.
Why It Matters
This filing indicates potential issues with Shuttle Pharmaceuticals' continued listing on an exchange, which could significantly impact its stock value and investor confidence.
Risk Assessment
Risk Level: high — A notice of delisting directly threatens the company's ability to remain publicly traded, posing a significant risk to investors.
Key Players & Entities
- Shuttle Pharmaceuticals Holdings, Inc. (company) — Registrant
- February 29, 2024 (date) — Date of earliest event reported
- March 5, 2024 (date) — Date of report
- 401 Professional Drive, Suite 260, Gaithersburg, MD 20879 (location) — Principal executive offices
FAQ
What specific listing rule or standard has Shuttle Pharmaceuticals Holdings, Inc. failed to satisfy?
The filing states it is a 'Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard' but does not specify which rule or standard has been violated in the provided text.
What is the exact date of the earliest event reported in this 8-K filing?
The earliest event reported is dated February 29, 2024.
What is the company's principal executive office address?
The principal executive offices are located at 401 Professional Drive, Suite 260, Gaithersburg, MD 20879.
What is the SEC file number for Shuttle Pharmaceuticals Holdings, Inc.?
The SEC file number is 001-41488.
What is the SIC code for Shuttle Pharmaceuticals Holdings, Inc.?
The Standard Industrial Classification (SIC) code is 2834, which corresponds to Pharmaceutical Preparations.
Filing Stats: 861 words · 3 min read · ~3 pages · Grade level 12.5 · Accepted 2024-03-05 09:00:29
Key Financial Figures
- $0.00001 — ange on which registered Common Stock $0.00001 per share SHPH The Nasdaq Stock Mar
- $1.00 — mon stock was trading below the minimum $1.00 per share requirement for continued inc
Filing Documents
- form8-k.htm (8-K) — 42KB
- ex99-1.htm (EX-99.1) — 9KB
- 0001493152-24-008796.txt ( ) — 225KB
- shph-20240229.xsd (EX-101.SCH) — 3KB
- shph-20240229_lab.xml (EX-101.LAB) — 33KB
- shph-20240229_pre.xml (EX-101.PRE) — 22KB
- form8-k_htm.xml (XML) — 4KB
01 Notice of Delisting or Failure to Satisfy a Continued
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule; Transfer of Listing. As previously disclosed on August 31, 2023, Shuttle Pharmaceuticals Holdings, Inc., a Delaware corporation (the "Company"), received a deficiency letter from the Listing Qualifications Department (the "Staff") of the Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that, for the preceding 30 consecutive business days, the closing bid price for the Company's common stock was trading below the minimum $1.00 per share requirement for continued inclusion on The Nasdaq Capital Market pursuant to Nasdaq Listing Rule 5550(a)(2) (the "Bid Price Requirement"). The notification from Nasdaq had no immediate effect on the Company's Nasdaq listing and the Company's common stock will continue to trade on Nasdaq under the ticker symbol "SHPH." In accordance with Nasdaq Rules, the Company was provided with an initial period of 180 calendar days, or until February 27, 2024 (the "Initial Grace Period"), to regain compliance with the Bid Price Requirement. Since the Initial Grace Period was coming to an end and the Company had not yet regained compliance, on February 19, 2024, the Company submitted a plan of compliance (the "Plan of Compliance") to Nasdaq seeking an additional 180-day grace period (the "Additional Grace Period") to regain compliance with the Bid Price Requirement. The Plan of Compliance set forth the steps the Company would take to regain compliance with the Bid Price Requirement within the additional 180-day period, including effectuating a reverse split of its common stock, if deemed necessary. On February 29, 2024, the Company received formal approval from Nasdaq granting it an additional 180 days, or until August 26, 2024 (the "Compliance Date"), to regain compliance with the Bid Price Requirement. If at any time before the Compliance Date the closing bid price for the Company's common stock is at least $1.00 for a minimum of 10 consecutive business days
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. SHUTTLE PHARMACEUTICALS HOLDINGS, INC. Dated: March 5, 2024 By: /s/ Anatoly Dritschilo Name: Anatoly Dritschilo Title: Chief Executive Officer