GAITHERSBURG, Md., March 21,
2024 /PRNewswire/ -- Shuttle Pharmaceuticals
Holdings, Inc. (Nasdaq: SHPH) ("Shuttle Pharma"), a discovery and
development stage specialty pharmaceutical company focused on
improving outcomes for cancer patients treated with radiation
therapy (RT), today provided a corporate update in connection with
the filing of its Annual Report on Form 10-K for the year ended
December 31, 2023.
Recent Highlights
- Received FDA approval to proceed with the Phase 2 Clinical
Trial of Ropidoxuridine for treatment of patients with
glioblastoma, a deadly malignancy of the brain with no known
cure.
- Finalizing site enrollment with 'first patient, first dose'
expected in the second quarter of 2024.
- Created Shuttle Diagnostics, Inc., a wholly owned subsidiary of
Shuttle Pharma, focused on developing a diagnostics laboratory
to develop its metabolite discovery platform technology and to
perform multi-institutional clinical trials.
- Entered into an exclusive agreement to license certain
intellectual property from Georgetown
University to advance the Company's predictive biomarker
program focused on developing a predictive diagnostic test for
prostate cancer patients who are considering elective radiation
therapy.
- Obtained an exclusive license for PSMA-B intellectual
property for advancing research into diagnostic and therapeutic
applications of metastatic prostate cancer. Announced intent to
commence a Rights Offering where it plans to raise up to
$4.5 million through the distribution
of subscription rights and the exercise thereof to advance Shuttle
Diagnostics, Inc. Details of the Rights Offering can be found
here.
- At December 31, 2023,
Shuttle Pharma's cash balance was $5.5
million (including cash, cash equivalents and marketable
securities).
Recent Presentations
- Anatoly Dritschilo, M.D., Chief
Executive Officer of Shuttle Pharma, participated in a fireside
chat at the Lytham Partners 2024 Investor Select Conference. The
webcast can be accessed HERE.
- Shuttle Pharma presented at the Emerging Growth Conference on
March 6, 2024. A webcast link of the
presentation can be found on the investor relations page of Shuttle
Pharma's website or accessed HERE.
- Updated corporate slide presentation to highlight the
opportunity for both Shuttle Pharma's radiation sensitizer
portfolio as well as the diagnostic subsidiary.
"We achieved a significant milestone in January 2024 with the receipt of the 'Safe to
Proceed' letter from the U.S. Food and Drug Administration (FDA) to
commence Ropidoxuridine's Phase 2 clinical trial," stated Shuttle
Pharma's Chairman and CEO, Anatoly
Dritschilo, M.D. "We are currently finalizing site
enrollment with 'first patient, first dose' expected in the second
quarter of 2024. The results of this Phase 2 clinical trial will be
important as we look to leverage radiation sensitizers to increase
cancer cure rates, prolong patient survival, and improve the
quality of life for patients suffering from glioblastoma.
"Beyond our focus on radiation sensitizers through both our
Ropidoxuridine and HDAC6 development, we also announced the
formation of Shuttle Diagnostics, which is focused on developing
pretreatment predictive blood tests for prostate cancer patients.
These tests will allow for the assessment of risk for cancer
treatment success or failure, while informing therapeutic decision
making and follow-up management. In 2019, the estimated global
prostate cancer diagnostic market was $2.83
billion, however, none of the currently available tests are
predictive of success of a specific treatment. We aim to meet this
key unmet need for a minimally invasive diagnostic test that
provides the clinician and patient with a measurement of the
potential success of RT for their cancer treatment.
"We expect the coming few months will be filled with key
developments and milestones, including the commencement of our
Phase 2 clinical trial for Ropidoxuridine for treatment of patients
with glioblastoma and the advancement of our opportunity within
diagnostics. Our team is laser-focused on execution of the key
deliverables that we believe will drive value for both patients and
shareholders," Dr. Dritschilo concluded.
About Shuttle Pharmaceuticals
Founded in 2012 by faculty members of the Georgetown
University Medical Center, Shuttle Pharma is a discovery and
development stage specialty pharmaceutical company focused on
improving the outcomes for cancer patients treated with radiation
therapy (RT). Our mission is to improve the lives of cancer
patients by developing therapies that are designed to maximize the
effectiveness of RT while limiting the side effects of radiation in
cancer treatment. Although RT is a proven modality for treating
cancers, by developing radiation sensitizers, we aim to increase
cancer cure rates, prolong patient survival and improve quality of
life when used as a primary treatment or in combination with
surgery, chemotherapy and immunotherapy. For more information,
please visit our website at www.shuttlepharma.com.
Safe Harbor Statement
Statements in this press release about future expectations,
plans and prospects, as well as any other statements regarding
matters that are not historical facts, may constitute
"forward-looking statements." These statements include, but are not
limited to, statements concerning the development of our company.
The words "anticipate," "believe," "continue," "could," "estimate,"
"expect," "intend," "may," "plan," "potential," "predict,"
"project," "should," "target," "will," "would" and similar
expressions are intended to identify forward-looking statements,
although not all forward-looking statements contain these
identifying words. Actual results may differ materially from those
indicated by such forward-looking statements as a result of various
important factors, including factors discussed in the "Risk
Factors" section of Shuttle Pharma's Annual Report on Form 10-K for
the year ended December 31, 2023,
filed with the SEC on March 21, 2024,
as well other SEC filings. Any forward-looking statements contained
in this press release speak only as of the date hereof and, except
as required by federal securities laws, Shuttle Pharmaceuticals
specifically disclaims any obligation to update any forward-looking
statement, whether as a result of new information, future events or
otherwise.
Shuttle Pharmaceuticals
Anatoly Dritschilo, M.D.,
CEO
240-403-4212
info@shuttlepharma.com
Investor Contacts
Lytham Partners, LLC
Robert Blum
602-889-9700
shph@lythampartners.com
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SOURCE Shuttle Pharmaceuticals Holdings, Inc.