Shuttle Pharmaceuticals Restates Financials
Ticker: SHPH · Form: 8-K · Filed: Jul 16, 2024 · CIK: 1757499
| Field | Detail |
|---|---|
| Company | Shuttle Pharmaceuticals Holdings, Inc. (SHPH) |
| Form Type | 8-K |
| Filed Date | Jul 16, 2024 |
| Risk Level | high |
| Pages | 3 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.00001, $0.0 million, $3.0 million, $0.6 million, $3.1 million |
| Sentiment | bearish |
Sentiment: bearish
Topics: accounting-restatement, financial-reporting, disclosure
TL;DR
Shuttle Pharma won't stand by old financials - big accounting cleanup ahead.
AI Summary
Shuttle Pharmaceuticals Holdings, Inc. announced on July 10, 2024, that it will not rely on previously issued financial statements or related audit reports. This decision impacts financial reporting for periods prior to the current date.
Why It Matters
This filing indicates potential issues with past financial reporting, which could affect investor confidence and require significant accounting adjustments.
Risk Assessment
Risk Level: high — Non-reliance on previously issued financial statements suggests significant accounting errors or control deficiencies, posing a high risk to the company's financial integrity and investor trust.
Key Players & Entities
- Shuttle Pharmaceuticals Holdings, Inc. (company) — Registrant
- July 10, 2024 (date) — Date of earliest event reported
- Delaware (jurisdiction) — State of incorporation
- Gaithersburg, MD (location) — Principal executive offices
FAQ
What specific financial periods are affected by the non-reliance on previously issued financial statements?
The filing states that the company will not rely on previously issued financial statements or related audit reports, implying that all such prior statements are now in question.
What is the primary reason for Shuttle Pharmaceuticals' decision to not rely on its previous financial statements?
The filing does not specify the exact reason but indicates a general non-reliance on previously issued financial statements or a related audit report or completed interim review.
When was the earliest event reported in this 8-K filing?
The earliest event reported was on July 10, 2024.
What is the company's principal executive office address?
The company's 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 for Shuttle Pharmaceuticals Holdings, Inc. is 001-41488.
Filing Stats: 968 words · 4 min read · ~3 pages · Grade level 14.2 · Accepted 2024-07-16 16:59:37
Key Financial Figures
- $0.00001 — ange on which registered Common Stock $0.00001 per share SHPH The Nasdaq Stock Mar
- $0.0 million — dated statement of operations is: (i) a $0.0 million change (net of offsetting increases (de
- $3.0 million — nse components) in the reported loss of $3.0 million for the year ended December 31, 2022 an
- $0.6 million — attributable to common stockholders of $0.6 million from $3.1 million to $3.7 million for t
- $3.1 million — ommon stockholders of $0.6 million from $3.1 million to $3.7 million for the year ended Dece
- $3.7 million — rs of $0.6 million from $3.1 million to $3.7 million for the year ended December 31, 2022. T
- $7.7 million — crease to additional paid-in capital of $7.7 million and an offsetting increase to accumulat
- $7.8 million — of approximately $7.7 million (of which $7.8 million related to the consolidated balance she
Filing Documents
- form8-k.htm (8-K) — 40KB
- 0001493152-24-028031.txt ( ) — 212KB
- shph-20240710.xsd (EX-101.SCH) — 3KB
- shph-20240710_lab.xml (EX-101.LAB) — 33KB
- shph-20240710_pre.xml (EX-101.PRE) — 22KB
- form8-k_htm.xml (XML) — 4KB
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: July 16, 2024 By: /s/ Anatoly Dritschilo Name: Anatoly Dritschilo Title: Chief Executive Officer