Shuttle Pharmaceuticals announces $3.5 million public offering

Shuttle Pharmaceuticals Holdings, Inc. (NASDAQ: SHPH) announced it has entered into a securities purchase agreement for a public offering expected to raise approximately $3.5 million in gross proceeds before fees and expenses.

The offering includes 2,238,800 shares of common stock and pre-funded warrants to purchase 4,761,200 shares of common stock. The transaction is expected to close on or about March 9, 2026, subject to customary closing conditions.

E.F. Hutton & Co. is serving as the exclusive placement agent for the offering. The company stated it intends to use up to $1.5 million of the net proceeds for future marketing efforts, with the remainder allocated to working capital and general corporate purposes.

The securities are being offered through a registration statement on Form S-1 that was filed with the Securities and Exchange Commission on February 11, 2026, and became effective on February 17, 2026.

Shuttle Pharmaceuticals owns Molecule.ai, an artificial intelligence platform for molecular discovery and early-stage drug development. The platform combines AI techniques with scientific workflows to help researchers explore chemical compounds and make decisions during early drug development stages.

The information is based on a company press release statement.

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