Shuttle Pharma Q1 2024 Corporate Update

Shuttle Pharmaceuticals Holdings, Inc. (Nasdaq: SHPH) provided an update following the submission of its Quarterly Report for the first quarter ending March 31, 2024. This specialty pharmaceutical company, which focuses on enhancing cancer treatment outcomes through radiation therapy, has made significant strides in its various projects.

A key milestone achieved by Shuttle Pharma is the FDA’s approval to initiate a Phase 2 Clinical Trial for Ropidoxuridine, targeting glioblastoma, an aggressive brain cancer with limited treatment options. Additionally, the trial has received approval from a central Institutional Review Board (IRB), which will oversee the study across multiple sites. Shuttle Pharma is in the final stages of securing participation from up to six institutions, with the goal of administering the first dose to patients by the second quarter of 2024.

Further expanding its scope, Shuttle Pharma has launched Shuttle Diagnostics, Inc., a subsidiary dedicated to developing diagnostic technologies. This new entity aims to establish a laboratory for metabolite discovery and support clinical trials across various institutions. The subsidiary will primarily focus on creating predictive blood tests for prostate cancer, such as the PC-RAD test, which forecasts treatment outcomes following radiation therapy, and the PSMA-B ligand, which serves both diagnostic and therapeutic purposes for metastatic prostate cancer.

Shuttle Pharma has also entered an exclusive licensing agreement with Georgetown University to advance its predictive biomarker program. This collaboration is directed at developing a diagnostic test for prostate cancer patients considering radiation therapy. Additionally, the company secured rights to intellectual property related to PSMA-B for advancing research into diagnostic and therapeutic applications for metastatic prostate cancer.

As of March 31, 2024, Shuttle Pharma reported a cash balance of approximately $4.2 million, including cash, cash equivalents, and marketable securities.

The company’s CEO, Anatoly Dritschilo, M.D., highlighted recent presentations at prominent events, including the Planet MicroCap Showcase and the Lytham Partners Investor Select Conference. These presentations underscored the potential of Shuttle Pharma's radiation sensitizer portfolio and the new diagnostic subsidiary.

Dr. Dritschilo expressed optimism about the ongoing Phase 2 clinical trial of Ropidoxuridine, emphasizing the anticipated initiation of patient dosing in the upcoming weeks. The trial aims to evaluate the clinical efficacy of Ropidoxuridine as a radiation sensitizer, potentially enhancing cancer cure rates, extending patient survival, and improving the quality of life for those battling glioblastoma.

Shuttle Pharmaceuticals, founded in 2012 by Georgetown University Medical Center faculty, is committed to improving cancer patient outcomes through innovative therapies that enhance the effectiveness of radiation therapy while minimizing its adverse effects. The company's mission is to develop radiation sensitizers that can be used alone or in combination with other treatments such as surgery, chemotherapy, and immunotherapy, ultimately aiming to increase cancer cure rates and improve patient survival and quality of life.