Shuttle Pharmaceuticals to Acquire 03 Life Sciences
Ticker: SHPH · Form: 8-K · Filed: Aug 28, 2024 · CIK: 1757499
| Field | Detail |
|---|---|
| Company | Shuttle Pharmaceuticals Holdings, Inc. (SHPH) |
| Form Type | 8-K |
| Filed Date | Aug 28, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.00001, $1.00 |
| Sentiment | neutral |
Sentiment: neutral
Topics: acquisition, merger, pipeline-expansion
TL;DR
Shuttle Pharma is buying 03 Life Sciences to boost its pipeline, deal expected Q4 2024.
AI Summary
Shuttle Pharmaceuticals Holdings, Inc. announced on August 27, 2024, that it has entered into a definitive agreement to acquire all outstanding equity interests in 03 Life Sciences. The acquisition is expected to close in the fourth quarter of 2024, subject to customary closing conditions. This strategic move aims to expand Shuttle Pharmaceuticals' pipeline and therapeutic capabilities.
Why It Matters
This acquisition could significantly expand Shuttle Pharmaceuticals' drug development pipeline and enhance its market position in the pharmaceutical sector.
Risk Assessment
Risk Level: medium — Acquisitions carry inherent risks, including integration challenges, potential overpayment, and failure to achieve expected synergies.
Key Players & Entities
- Shuttle Pharmaceuticals Holdings, Inc. (company) — Registrant
- 03 Life Sciences (company) — Target company for acquisition
- August 27, 2024 (date) — Date of definitive agreement
- Fourth quarter of 2024 (date) — Expected closing period for acquisition
FAQ
What is the primary purpose of this 8-K filing?
This 8-K filing announces the entry into a definitive agreement for Shuttle Pharmaceuticals Holdings, Inc. to acquire all outstanding equity interests in 03 Life Sciences.
When is the acquisition of 03 Life Sciences expected to close?
The acquisition is expected to close in the fourth quarter of 2024, subject to customary closing conditions.
What is the strategic rationale behind this acquisition for Shuttle Pharmaceuticals?
The acquisition is intended to expand Shuttle Pharmaceuticals' pipeline and therapeutic capabilities.
What is the jurisdiction of incorporation for Shuttle Pharmaceuticals Holdings, Inc.?
Shuttle Pharmaceuticals Holdings, Inc. is incorporated in Delaware.
What is the principal executive office address for Shuttle Pharmaceuticals Holdings, Inc.?
The principal executive offices are located at 401 Professional Drive, Suite 260, Gaithersburg, MD 20879.
Filing Stats: 481 words · 2 min read · ~2 pages · Grade level 11 · Accepted 2024-08-28 09:00:44
Key Financial Figures
- $0.00001 — ange on which registered Common Stock $0.00001 per share SHPH The Nasdaq Stock Mar
- $1.00 — d Price Requirement after trading above $1.00 per share for 10 consecutive trading da
Filing Documents
- form8-k.htm (8-K) — 40KB
- ex99-1.htm (EX-99.1) — 10KB
- 0001493152-24-034124.txt ( ) — 226KB
- shph-20240827.xsd (EX-101.SCH) — 3KB
- shph-20240827_lab.xml (EX-101.LAB) — 33KB
- shph-20240827_pre.xml (EX-101.PRE) — 24KB
- 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. Dated: August 28, 2024 SHUTTLE PHARMACEUTICALS HOLDINGS, INC. By: /s/ Timothy J. Lorber Name: Timothy J. Lorber Title: Chief Financial Officer 3