Shuttle Pharma's 1-for-10 Reverse Stock Split Effective June 11 to Maintain Nasdaq Listing
SHPH sits 17% above its 52-week low of $0.383.
Summary
Shuttle Pharmaceuticals announced its 1-for-10 reverse stock split will become effective on June 11, 2026, with shares trading on a split-adjusted basis that day. This follows shareholder approval on May 27th and is intended to help the company maintain compliance with Nasdaq's listing requirements. The split will reduce outstanding shares from approximately 6.37 million to 637,108. This corporate action is critical for the company, which recently pivoted to Dogecoin mining and has reported ongoing financial distress and a going concern warning.
At the time of this announcement, SHPH was trading at $0.45 on NASDAQ in the Crypto Assets sector, with a market capitalization of approximately $2.8M. The 52-week trading range was $0.38 to $6.19. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: TMX Newsfile.