GAITHERSBURG, Md. – Shuttle Pharmaceuticals Holdings, Inc. (NASDAQ: SHPH), a pharmaceutical company specializing in cancer treatment enhancement, has announced the publication of research on a new compound, SP-1-303, which shows promising results in inhibiting the growth of estrogen receptor positive breast cancer cells.
The study, led by Dr. Mira Jung from Georgetown University Medical Center and Dr. Scott Grindrod, Shuttle Pharma's Principal Scientist, was published in PLOS ONE journal.
SP-1-303, a pre-clinical asset of Shuttle Pharma, is a selective Class I HDAC inhibitor that has been found to activate the ataxia-telangiectasia mutated protein (ATM) and modulate estrogen receptor expression. This dual-targeting approach has been shown to preferentially inhibit the growth of estrogen receptor positive breast cancer cells. The compound was discovered and synthesized within Shuttle Pharma’s laboratories.
The study's findings suggest that SP-1-303 not only sensitizes cancer cells to radiation therapy but also protects normal tissues from radiation injury and activates the immune system. Moreover, the compound has been observed to increase the expression level of PD-L1 in a time-dependent manner, indicating potential for use in combination with immune checkpoint blockers to enhance therapeutic benefits.
Dr. Anatoly Dritschilo, CEO of Shuttle Pharmaceuticals and a co-author of the report, commented on the strategy of inhibiting cancer cell growth with minimal impact on surrounding normal cells. He emphasized that the research supports further preclinical evaluation of SP-1-303 as a potential therapeutic agent for treating estrogen receptor positive breast cancers.
Shuttle Pharmaceuticals, founded in 2012 by faculty members of the Georgetown University Medical Center, focuses on developing therapies to improve the effectiveness of radiation therapy while minimizing side effects in cancer treatment. The company aims to increase cancer cure rates, prolong patient survival, and improve quality of life for cancer patients.
The press release also contains forward-looking statements regarding the development of the company, cautioning that actual results may vary due to various factors. These statements are based on current expectations and projections about future events.
This article is based on a press release statement from Shuttle Pharmaceuticals Holdings, Inc.
In other recent news, Shuttle Pharmaceuticals Holdings, Inc. announced the restatement of its financial results for the year ended December 31, 2022, and the quarter ended March 31, 2024, due to accounting errors.
The company's re-audit, in consultation with Forvis Mazars LLP and the audit committee, revealed incorrect accounting for certain transactions. Investors have been advised not to rely on the previously issued financial statements for the affected periods, with amended reports expected to be filed soon.
In parallel with these financial developments, Shuttle Pharmaceuticals has made significant changes to its executive team. Timothy Lorber, a Certified Public Accountant with over four decades of finance experience, has been appointed as the new Chief Financial Officer. Concurrently, the current CFO, Michael Vander Hoek, will transition to focus solely on his role as Vice President, Regulatory, aligning with the company's upcoming multi-center Phase 2 clinical trial.
These are the latest developments in Shuttle Pharmaceuticals' ongoing mission to enhance Radiation Therapy effectiveness for cancer patients.
InvestingPro Insights
As Shuttle Pharmaceuticals Holdings, Inc. (NASDAQ: SHPH) continues to make strides in the field of cancer treatment with its promising research on SP-1-303, investors may be interested in the company's financial health and market performance. According to InvestingPro data, the market capitalization of Shuttle Pharma stands at 7.74 million USD.
Despite the potential of their research, the company is not profitable over the last twelve months, with a reported operating income of -5.73 million USD for the same period. This aligns with the lack of profitability indicated by a negative P/E ratio of -0.92.
On a more positive note, the company has shown a significant return over the last week, with a 1 Week Price Total Return of 8.41%. Investors may also find solace in the fact that the company holds more cash than debt on its balance sheet, as per InvestingPro Tips, which is a reassuring sign of financial stability in the short term. Moreover, Shuttle Pharma's liquid assets exceed its short-term obligations, suggesting a healthy liquidity position.
For those interested in further insights and metrics, InvestingPro offers additional tips on Shuttle Pharmaceuticals, which can be explored in detail at https://www.investing.com/pro/SHPH. For readers looking to delve deeper into InvestingPro's analysis, use coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription. With these insights, investors can better gauge the investment potential of Shuttle Pharmaceuticals as it advances its cancer treatment research.
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