Shuttle Pharmaceuticals Holdings, Inc. (SHPH) has released an update.
Shuttle Pharmaceuticals Holdings, Inc. has entered into an agreement with SRO, LLC to sell $2,250,000 worth of units, which include shares, warrants, and an equity interest in its subsidiary. This is part of a larger effort to raise $4,500,000 through a rights offering to existing stockholders, with SRO LLC providing a backstop to purchase any remaining units. The funds are intended to develop a diagnostics lab for FDA approval of a diagnostic metabolite panel for prostate cancer. The company also signed an agreement with Boustead Securities, LLC for financial and placement agent services for the rights offering.
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