Lucosky Brookman Represents WestPark Capital in Shuttle Pharmaceuticals' $5.75 Million Public Offering
Shuttle Pharmaceuticals Holdings, Inc. (Nasdaq: SHPH), a discovery and development stage specialty pharmaceutical company focused on improving outcomes for cancer patients treated with radiation therapy (RT), has successfully closed its $5.75 million underwritten public offering, marking a significant milestone in advancing its clinical development program. The transaction, which included 19,166,667 shares of common stock (or pre-funded warrants to purchase common stock in lieu thereof) priced at $0.30 per share, strengthens the company's financial position to progress its innovative radiation sensitizer therapies.
Lucosky Brookman LLP served as legal counsel to WestPark Capital, Inc., the Sole Book-Runner in this strategic financing, which bolsters Shuttle Pharma's ability to advance its clinical pipeline. The offering was conducted on a firm commitment basis pursuant to a registration statement on Form S-1 (File No. 333-284889) that was declared effective by the Securities and Exchange Commission on March 7, 2025.
The successfully completed capital raise will fuel several critical initiatives:
- Funding Shuttle Pharma's Phase II clinical trial for its lead product candidate
- Supporting marketing and advertising services
- Enhancing working capital reserves
- General corporate purposes
This financing supports Shuttle Pharmaceuticals' mission to improve the lives of cancer patients by developing therapies designed to maximize the effectiveness of radiation therapy while limiting side effects in cancer treatment.
The successful closing of this transaction underscores the market's confidence in Shuttle Pharmaceuticals' innovative approach to addressing critical unmet needs in cancer treatment through its specialized portfolio of radiation sensitizer therapies.