Shuttle Pharma Provides Corporate Update
GAITHERSBURG, Md., May 15, 2025 (GLOBE NEWSWIRE) -- Shuttle Pharmaceuticals Holdings, Inc. (Nasdaq: SHPH) ('Shuttle Pharma' or the 'Company'), a discovery and development stage specialty pharmaceutical company focused on improving outcomes for cancer patients treated with radiation therapy (RT), today provided a corporate update.
Shuttle Pharma's recent highlights:
Phase 2 clinical trial of Ropidoxuridine for treatment of patients with glioblastoma highlights include:
Patient enrollment nears milestone as nearly 50% enrollment has been achieved in the initial randomized portion of the trial.
84% of the enrolled patients have completed all seven cycles.
Ropidoxuridine is being reported as well tolerated by treatment sites and toxicity is no greater than 2 on a scale of 1-5.
Analyzing pharmacokinetic/pharmacodynamic samples to compare the relationship between dose and response in terms of the extent and duration of Ropidoxuridine's action has begun.
Enrollment continues at nationally recognized cancer centers, including Georgetown University Medical Center, Allegheny Health Network (AHN) Cancer Institute, UNC Medical Center, the UVA Cancer Center, John Theurer Cancer Center at Hackensack University Medical Center, and Miami Cancer Institute, part of Baptist Health South Florida.
Objective is to finalize enrollment later this year with follow up and data read out in 2026.
Other key activities include:
Continued advancement of the Company's Diagnostics subsidiary through the entry of a sponsored research agreement with the University of California, San Francisco (UCSF) to advance pre-clinical development of a ligand to the prostate-specific membrane antigen (PSMA) as a potential diagnostic and therapeutic, or theranostic, molecule. Theranostic molecules are suitable for diagnosis and therapy of cancers.
Filed a key provisional patent application with the United States Patent and Trademark Office (USPTO) entitled 'PSMA-Targeted PARP Inhibitor Conjugates for Precision Cancer Therapy.' The filing comes through Shuttle Pharma's collaboration with internationally renowned medicinal chemist, Dr. Alan Kozikowski. Dr. Kozikowski's original medicinal chemistry research performed in collaboration with Professor Joseph Neale and conducted at Georgetown University Medical Center were a component in the creation of both Pylarify and Pluvitco.
Appointed three new members to the Company's board of directors (George Scorsis, Oleh Nabyt and Joseph Tung), offering business and legal backgrounds to help guide the Company going forward.
Strengthened the Company's balance sheet through the completion of an underwritten public offering. Cash and cash equivalents at March 31, 2025 were $4.5 million.
'We are thrilled with the progress of our Phase 2 clinical trial for Ropidoxuridine in treating glioblastoma, a devastating brain cancer,' commented Shuttle Pharma's interim Chief Executive Officer, Chris Cooper. 'With nearly 50% of patient enrollment achieved in the initial randomized portion and 84% of enrolled patients completing all seven cycles, the trial is advancing steadily at esteemed cancer centers. Ropidoxuridine has been well-tolerated and we have begun analyzing pharmacokinetic and pharmacodynamic samples to optimize dosing and response. Our goal is to complete enrollment later this year, with follow-up and data readouts anticipated in 2026.'
"In parallel, Shuttle Pharma is making significant strides in our Diagnostics subsidiary through a sponsored research agreement with UCSF to develop a PSMA-targeted ligand for potential theranostic applications in prostate cancer. We've also filed a provisional patent for 'PSMA-Targeted PARP Inhibitor Conjugates for Precision Cancer Therapy,' in collaboration with Dr. Alan Kozikowski, an internationally renowned medicinal chemist. Additionally, we have enhanced our business focus through the addition of new board members and a strengthened balance sheet through our recent public offering. These actions help prepare us for the accelerated achievement of key milestones in the future.'
On Friday, May 9, 2025, Dr. Anatoly Dritschilo announced his resignation from the Company's Board of Directors and as Chief Scientific Officer. Additionally, Michael Vander Hoek, the Company's Vice President, Regulatory, announced his retirement with an effective date of June 10, 2025.
'Finally, I want to thank Dr. Dritschilo and Michael Vander Hoek for their many contributions to Shuttle Pharma since its inception. We look forward to building off the work completed to date to bring us closer to offering hope for patients battling this aggressive disease," Mr. Cooper concluded.
About Shuttle Pharmaceuticals
Founded in 2012 by faculty members of the Georgetown University Medical Center, Shuttle Pharma is a discovery and development stage specialty pharmaceutical company focused on improving the outcomes for cancer patients treated with radiation therapy (RT). Our mission is to improve the lives of cancer patients by developing therapies that are designed to maximize the effectiveness of RT while limiting the side effects of radiation in cancer treatment. Although RT is a proven modality for treating cancers, by developing radiation sensitizers, we aim to increase cancer cure rates, prolong patient survival and improve quality of life when used as a primary treatment or in combination with surgery, chemotherapy and immunotherapy. For more information, please visit our website at www.shuttlepharma.com.
Safe Harbor Statement
Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute 'forward-looking statements.' These statements include, but are not limited to, statements concerning the development of our company. The words 'anticipate,' 'believe,' 'continue,' 'could,' 'estimate,' 'expect,' 'intend,' 'may,' 'plan,' 'potential,' 'predict,' 'project,' 'should,' 'target,' 'will,' 'would' and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including factors discussed in the 'Risk Factors' section of Shuttle Pharma's Annual Report on Form 10-K for the year ended December 31, 2024, filed with the SEC on February 26, 2025, as well other SEC filings. Any forward-looking statements contained in this press release speak only as of the date hereof and, except as required by federal securities laws, Shuttle Pharmaceuticals specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.
Shuttle PharmaceuticalsChris CooperChief Executive Officerinfo@shuttlepharma.com
Investor ContactsLytham Partners, LLCRobert Blum602-889-9700shph@lythampartners.com
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
13 minutes ago
- Yahoo
Former head trader of Denver-based investing company pleads guilty to insider trading
DENVER (KDVR) — A Connecticut man pleaded guilty to an insider trading charge on Friday for actions he took while employed at Denver-based firm Irving Investors. Ryan Squillante, 40, of Weston, Connecticut, was employed as the head of equity trading at Irving Investors at the time of the offense, according to the U.S. Attorney's Office for the District of Connecticut. While there, he received 'material non-public information' about some publicly traded companies. Australian hacker sentenced in May arrested by HSI Denver, faces deportation Prosecutors say that Squillante used MNPI on 15 different occasions between August 2022 and May 2023 for his own benefit, profiting about $220,912 from the transactions, according to the attorney's office. The U.S. Attorney's Office for the District of Connecticut provided an example of one of the times Squillante reportedly received MNPI about a clinical-stage biopharmaceutical company called Praxis Precision Medicines. Praxis is traded on the NASDAQ. The prosecutors said that between Feb. 27, 2023, and March 2, 2023, Squillante 'sold short' over 38,000 shares of Praxis for an average price per share of $3.04. On March 3, prosecutors say Squillante announced poor results of the company's drug trial before the market opened. Following that announcement, Squillante 'covered' the same number of shares at an average price of $1.82 per share, making a profit of about $46,421. Squillante pleaded guilty to securities fraud, which has a maximum term of imprisonment of 20 years. He's scheduled to be sentenced on Aug. 29. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
2 hours ago
- Yahoo
Quantum Computing Inc. Reports First Quarter 2025 Financial Results
HOBOKEN, N.J., May 15, 2025 /PRNewswire/ -- Quantum Computing Inc. ("QCi" or the "Company") (Nasdaq: QUBT), an innovative, integrated photonics and quantum optics technology company, today released financial results for the three-month period ended March 31, 2025. Dr. Yuping Huang, Interim Chief Executive Officer of QCi, commented, "QCi delivered solid operational and financial progress in the first quarter, strengthening our balance sheet and advancing key strategic initiatives. We completed construction during the quarter of our Quantum Photonic Chip Foundry in Tempe, Arizona, a major milestone that positions us to meet growing demand for thin film lithium niobate (TFLN) photonic chips, underscored by the announcement of a fifth purchase during the period. We're encouraged by our early traction, which is the first step in what we believe is a significant, multi-year opportunity to serve the expanding markets in datacom, telecom, and quantum-enabled applications. In parallel, we continued to deepen engagement with both government and commercial partners, reinforcing the growing interest in our quantum and photonic machines and positioning QCi to capitalize on emerging opportunities ahead." First Quarter 2025 Financial Highlights First quarter 2025 revenues totaled approximately $39,000 (33% gross margin) compared to $27,000 (41% gross margin) generated in the first quarter of 2024. Gross margin can vary at our current revenue levels. As such, the year-over-year decrease is not unexpected. First quarter 2025 operating expenses totaled $8.3 million compared to the previous year's first quarter operating expenses of $6.3 million. The year-over-year increase was primarily driven by higher employee-based expenses. The Company reported net income attributable to common stockholders of $17.0 million, or $0.13 per basic share for the first quarter of 2025, compared to a net loss attributable to common stockholders of $6.4 million or $(0.08) per basic share for the same period of the previous year. The increase in net income this quarter was primarily due to a $23.6 million non-cash gain on the mark-to-market valuation of the Company's warrant liability as a result of our merger with QPhoton in June 2022. Total assets at March 31, 2025 were $242.5 million, increasing from $153.6 million at December 31, 2024. Cash and cash equivalents at March 31, 2025 increased by $87.5 million to $166.4 million from year-end 2024. During the first quarter, the Company raised total net proceeds of $93.6 million through a private placement offering of common stock. Total liabilities at March 31, 2025 were $21.7 million, a decrease of $24.6 million compared to year-end 2024, driven primarily by the previously-mentioned non-cash changes in the fair value of the Company's warrant liability. As of March 31, 2025, the Company had shareholders' equity totaling $220.8 million. First Quarter 2025 Operational Highlights Quantum Photonic Chip Foundry Update: During the quarter, QCi completed construction of its Quantum Photonic Chip Foundry in Tempe, Arizona, achieving a key milestone in scaling its U.S.-based TFLN manufacturing services. The Company is now establishing its process design kit (PDK) and filling customer orders. To date, the Company has received five initial orders for its foundry services. Advancing Quantum Machine Adoption: On January 15, 2025, QCi announced a collaboration with Sanders Tri-Institutional Therapeutics Discovery Institute (Sanders TDI), a non-profit drug discovery institute comprising Memorial Sloan Kettering Cancer Center, The Rockefeller University, and Weill Cornell Medicine. Through this partnership, Sanders TDI will leverage cloud-based access to QCi's Dirac-3 quantum optimization machine to support computational chemistry and biomolecular modeling research. This collaboration highlights growing adoption of QCi's quantum systems in real-world biomedical applications. Board Appointment Strengthens Strategic Leadership: On March 26, 2025, QCi appointed Eric Schwartz to its Board of Directors. Mr. Schwartz brings over 20 years of experience in corporate finance, mergers and acquisitions, and corporate strategy, with a strong track record guiding companies through commercialization and manufacturing scale-up. His expertise will support QCi's growth initiatives as the Company advances its TFLN chip foundry and drives market adoption of its quantum machines. Strengthening Sales & Market Presence: The Company continued to expand its commercial and government engagement, participating in numerous trade shows and conferences during the quarter to showcase its quantum optimization and photonic chip solutions to prospective customers and partners. Advancing Strategic Partnerships with NASA: Subsequent to the quarter on April 30, 2025, QCi was awarded a subcontract valued at approximately $406,000 through Analytical Mechanics Associates (AMA) to support NASA's Langley Research Center. Under the project, QCi will use its Dirac-3 quantum computer to develop a quantum-based technique for removing sunlight noise from space-based LIDAR data, an obstacle that has historically limited NASA's ability to conduct reliable daytime Earth observation. This project builds on QCi's prior work with NASA. Expanding Commercial Adoption of Quantum Solutions: Subsequent to the quarter, QCi secured two additional customer orders, reflecting growing global demand for its quantum machines. On April 1, 2025, the Company announced the sale of a Quantum Photonic Vibrometer to the Department of Aerospace Structures and Materials at Delft University of Technology in the Netherlands, supporting advanced research in non-destructive testing and structural health monitoring. Later in the month, on April 22, 2025, QCi announced the sale of an EmuCore reservoir computing device to a major automotive manufacturer for research and development use. These orders underscore QCi's strategy to broaden awareness and adoption of its quantum solutions across both academic and industrial markets globally. Earnings Conference Call The Company will host its first quarter conference call on Thursday, May 15, 2025, at 4:30 p.m. To access the live webcast of the conference call, visit the QCi Investor Relations page at Investors may also access the webcast via the following link: To participate in the call by phone, dial (888) 506-0062 approximately five minutes prior to the scheduled start time. International callers please dial (973) 528-0011. Callers should use access code: 832763. A replay of the teleconference will be available until May 22, 2025, and may be accessed by dialing (877) 481-4010. International callers may dial (919) 882-2331. Callers should use conference ID: 52325. About Quantum Computing Inc. Quantum Computing Inc. (Nasdaq: QUBT) is an innovative, integrated photonics and quantum optics technology company that provides accessible and affordable quantum machines to the world today. QCi's products are designed to operate at room temperature and low power at an affordable cost. The Company's portfolio of core technologies and products offer unique capabilities in the areas of high-performance computing, artificial intelligence, and cybersecurity, as well as remote sensing applications. Company Contact:Rosalyn Christian/John NesbettIMS Investor Relationsinvestors@ Forward-Looking Statements This press release contains forward-looking statements as defined within Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements, generally identified by terms such as "may," "will," "expect," "believe," "anticipate," "estimate," "intends," "goal," "objective," "seek," "attempt," "aim to," or variations of these or similar words, involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the future. Those statements include statements regarding the intent, belief or current expectations of QCi and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, including the timing of orders and revenue, and the outcome of ongoing collaborations and demonstration projects with certain U.S. government agencies, academic institutions and commercial customers, and that actual results may differ materially from those contemplated by such forward-looking statements. Except as required by federal securities law, QCi undertakes no obligation to update or revise forward-looking statements to reflect changed conditions. IMPORTANT NOTICE TO USERS (summary only, click here for full text of notice): All information is unaudited unless otherwise noted or accompanied by an audit opinion and is subject to the more comprehensive information contained in our SEC reports and filings. We do not endorse third-party information. All information speaks as of the last fiscal quarter or year for which we have filed a Form 10-K or 10-Q, or for historical information the date or period expressly indicated in or with such information. We undertake no duty to update the information. Forward-looking statements are subject to risks and uncertainties described in our Forms 10-Q and 10-K. QUANTUM COMPUTING INC. Consolidated Balance Sheets (in thousands, except par value data)March 31, December 31,2025 2024Assets Current assets: Cash and cash equivalents$ 166,429 $ 78,945 Accounts receivable, net 2027 Inventory 13118 Prepaid expenses and other current assets 660161Total current assets 167,24079,151Property and equipment, net 9,9768,212Operating lease right-of-use assets 1,4191,522Intangible assets, net 8,1968,972Goodwill 55,57355,573Other non-current assets 129129Total assets$ 242,533 $ 153,559 Liabilities and Stockholders' Equity Current liabilities: Accounts payable$ 2,022 $ 1,372 Accrued expenses 6472,134 Deferred revenue 8379 Other current liabilities 990974Total current liabilities 3,7424,559Derivative liability 16,90240,532Operating lease liabilities 1,0621,181Total liabilities 21,70646,272Stockholders' equity: Common stock, $0.0001 par value, 250,000 thousand shares authorized; 137,322 thousand and 129,012 thousand shares issued and outstanding as of March 31, 2025 and December 31, 2024, respectively 1413 Additional paid-in capital 404,313307,756 Accumulated deficit (183,500)(200,482)Total stockholders' equity 220,827107,287Total liabilities and stockholders' equity$ 242,533 $ 153,559 QUANTUM COMPUTING INC. Consolidated Statements of Operations (in thousands, except per share data)Three Months EndedMarch 31,2025 2024Total revenue$ 39 $ 27Cost of revenue 2616Gross profit 1311Operating expenses Research and development 2,9852,220Sales and marketing 672451General and administrative 4,6423,659Total operating expenses 8,2996,330Loss from operations (8,286)(6,319)Non-operating income (expense) Interest and other income 1,69638Interest expense, net (58)(155)Change in fair value of warrant liabilities 23,630-Income (loss) before income tax provision 16,982(6,436)Income tax provision --Net income (loss) 16,982(6,436) Net income (loss) attributable to common stockholders$ 16,982 $ (6,436) Earnings (loss) per share: Basic$ 0.13 $ (0.08)Diluted$ 0.11 $ (0.08)Weighted average shares used in computing net earnings (loss) per common share: Basic 135,21781,934Diluted 153,00681,934 View original content to download multimedia: SOURCE Quantum Computing Inc. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
4 hours ago
- Yahoo
Dow futures dip as stocks eye record highs ahead of U.S.-China talks and inflation reports
Stock futures ticked lower on Sunday night as the S&P 500's recent rally has brought it within 2.4% of its all-time high reached in February, before President Donald Trump's trade war ravaged markets. That comes ahead of a big week, which will see another round of U.S.-China trade talks and key inflation reports. U.S. stock futures pointed down on Sunday night ahead of a big week that will be highlighted by more U.S.-China trade talks and fresh inflation data. A strong jobs report on Friday added more fuel to a rally that has lifted the S&P 500 to within 2.4% of its all-time high reached in February, before President Donald Trump's trade war sank markets. Futures for the Dow Jones Industrial Average fell 44 points, or 0.10%. S&P 500 futures slipped 0.15%, and Nasdaq futures eased 0.23%. Tesla stock may see more downside after Trump said his relationship with CEO Elon Musk is over. The yield on the 10-year Treasury slipped less than 1 basis point to 4.506%. The dollar fell 0.11% against the euro and 0.15% against the yen. While Wall Street may not react to Trump sending National Guard troops to Los Angeles, his overall immigration crackdown represents a labor-supply shock to the economy that has implications for the dollar. Gold dipped 0.28% to $3,337.20 per ounce. U.S. oil prices climbed 0.08% to $64.63 per barrel, and Brent crude gained 0.05% to $66.50. On Monday, U.S. and Chinese officials will meet in London to begin another round of trade talks after agreeing last month in Geneva to pause their prohibitively high tariffs. Since that de-escalation in the trade war, both sides have accused the other reneging on their deal. For the U.S., a key sticking point has been the availability of rare earths, which are dominated by China and are critical for the auto, tech, and defense sectors. Kevin Hassett, director of the National Economic Council, sounded upbeat on Sunday that the London talks could result in a resolution. 'I'm very comfortable that this deal is about to be closed,' he told CBS News. Meanwhile, new inflation data are due as the Federal Reserve remains in wait-and-see mode to assess how much Trump's tariffs are moving the needle on prices. The better-than-expected jobs report on Friday eased fears of a recession, taking pressure off the Fed to cut rates to support the economy. That means that any rate cuts may have to come as a result of cooler inflation. The Labor Department will release its monthly consumer price index on Wednesday and its producer price index on Thursday. Also on Wednesday, the Treasury Department will issue its monthly update on the budget, offering clues on how much debt the federal government is issuing amid concern about bond supply and demand. This story was originally featured on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
