Shuttle Pharmaceuticals (SHPH) stock has reached a new 52-week low, trading at just $0.67. With a market capitalization of $2.51 million and negative EBITDA of $7.2 million, this latest price point underscores a significant downturn for the company, which has seen its stock value plummet by 81.96% over the past year. According to InvestingPro analysis, the RSI suggests the stock is in oversold territory. Investors are closely monitoring the stock as it struggles to regain momentum amidst market challenges and internal company dynamics, with a concerning current ratio of 0.22 indicating potential liquidity issues. The 52-week low serves as a critical indicator for the company's performance and investor sentiment, marking a stark contrast from its previous positions and highlighting the volatility that can impact stocks in the pharmaceutical sector. Discover 14 additional key insights about SHPH with InvestingPro.
In other recent news, Shuttle Pharmaceuticals has accomplished significant milestones in its operations. The biopharmaceutical company recently completed a funding round, raising a total of $790,000. This funding round included the issuance of senior secured convertible notes and warrants, contributing to the company's efforts to advance its pharmaceutical development programs.
Shuttle Pharmaceuticals has also made considerable progress in its glioblastoma treatment trials, expanding its Phase 2 clinical trial to include two additional sites. The trial focuses on the drug Ropidoxuridine, aimed at improving survival rates for patients with aggressive brain tumors. The trial's expansion marks a significant step in addressing the needs of glioblastoma patients.
In addition to these developments, the company has secured a patent for selective histone deacetylase (HDAC) inhibitors, a noteworthy advancement in enhancing cancer treatments. Furthermore, the company has published research on a new compound, SP-1-303, showing potential in inhibiting the growth of estrogen receptor-positive breast cancer cells.
On the financial front, Shuttle Pharmaceuticals is addressing a Nasdaq delisting over an equity shortfall and has entered into an Amendment Agreement with Alto Opportunity (SO:FTCE11B) Master Fund. The company's stockholders have approved a one-for-eight reverse stock split and plan to restate financial statements due to identified accounting errors. Lastly, the company announced executive team changes, with Timothy Lorber assuming the role of Chief Financial Officer.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.