Shuttle Pharma Q2 10-Q: $90K Cash, Going Concern Warning, Material Weaknesses
SHPH sits 53% above its 52-week low of $2.576.
Summary
Shuttle Pharmaceuticals' delayed Q2 10-Q shows a $3.1M quarterly loss, only $90K in cash, a going concern warning, and material weaknesses in internal controls. The company plans a $120M-$150M capital raise and has issued millions of shares and warrants following the September 9 special meeting.
Key Events · Earnings and Guidance · SHPH
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Q2 Net Loss of $3.1M
Net loss was $3,145,539 for the three months ended June 30, 2026, and $5,298,010 for the six months, with no revenue generated.
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Cash Position Critical
Cash and cash equivalents fell to $90,238 as of June 30, 2026, from $334,005 at year-end 2025, with a working capital deficit of approximately $3.1 million.
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Going Concern Warning Reiterated
Management states existing cash resources and equity offering proceeds are not expected to fund operations through the next twelve months, raising substantial doubt about the company's ability to continue as a going concern.
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Material Weaknesses in Internal Controls
The company disclosed material weaknesses in internal controls over financial reporting as of June 30, 2026, including limited accounting policies, IT general control issues, and insufficient technical accounting expertise.
Analysis · SHPH · Life Sciences
Shuttle Pharmaceuticals filed its delayed Q2 2026 10-Q, revealing a $3.1M quarterly net loss, only $90,238 in cash, and a working capital deficit of $3.1M. Management reiterates substantial doubt about the company's ability to continue as a going concern within one year, stating existing cash and equity offering proceeds are insufficient to fund operations through the next twelve months. The filing also discloses material weaknesses in internal controls over financial reporting. Against this backdrop, the company plans a $120M-$150M capital raise contingent on a data center land deal. The subsequent events section confirms the September 9 special meeting approved massive share issuances, with 2.87M shares issued from Series B-1 conversion, 867,887 from Series B-2, 927,185 warrants, and 9.74M pre-funded warrants as of September 14, 2026.
How filings like this one have moved
In the 30 days to Oct 17, 2026, 44.5% of the 301 measured filings Wiseek scored 9 moved their stock by 5% or more by the next session's close. The median move was -0.39%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, SHPH was trading at $3.93 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $15.3M. The 52-week trading range was $2.58 to $55.90. This filing was assessed with negative market sentiment and an importance score of 9 out of 10.