Shuttle Pharmaceuticals Holdings, Inc.

Shuttle Pharmaceuticals' wholly-owned subsidiary, United Dogecoin Inc., announced significant progress in its Dogecoin mining and AI infrastructure strategy. The company purchased its first fleet of ElphaPex DG1+ mining units, which are expected to be operational within approximately 60 days. Additionally, United Dogecoin secured a site with renewable hydroelectric energy at a competitive rate of US$0.064 per kilowatt hour, aiming to become the largest Dogecoin miner by hashrate. The subsidiary is also evaluating data center and power generation opportunities in Idaho and Alberta to support long-term operations and future AI workloads.

Shuttle Pharmaceuticals Holdings, Inc. completed a one-for-ten reverse stock split, effective June 11, 2026. This action followed stockholder approval at the May 21, 2026 annual meeting, which authorized the Board to implement a reverse split within a 1:2 to 1:150 range. The reverse split adjusted the number of outstanding shares and proportionally impacted convertible securities without changing the total authorized shares or par value. Trading on The Nasdaq Capital Market commenced on a split-adjusted basis.

Shuttle Pharmaceuticals Holdings, Inc. reported a net loss of $2.15 million for the three months ended March 31, 2026, an improvement from a $3.05 million loss in the prior year. The company's financial statements include a going concern warning, indicating that existing cash resources are insufficient for the next twelve months. This follows the acquisition of Molecule.ai's AI-driven drug discovery platform in November 2025 and the winding down of Ropidoxuridine clinical trials. In March 2026, the company raised approximately $3.2 million in net proceeds from a public offering of common stock and pre-funded warrants.

Shuttle Pharmaceuticals Holdings, Inc. completed its previously announced merger with United Dogecoin Inc. on May 6, 2026, making United Dogecoin Inc. a direct wholly-owned subsidiary. As consideration, existing United Dogecoin shareholders received 8,403 shares of newly designated Series B-1 convertible preferred stock, convertible into 4,033 shares of Shuttle common stock per share at $1.24, subject to approval. Additionally, up to 122,927,528 Pre-Funded Warrants are issuable upon milestone achievements. The company also closed a PIPE financing, issuing 1,910 shares of Series B-2 preferred stock and common stock purchase warrants exercisable at $1.03 per share.

Shuttle Pharmaceuticals Holdings, Inc. (SHPH) announced a definitive merger agreement to acquire United Dogecoin Inc., aiming to become the world's largest publicly listed Dogecoin mining company. The transaction involves United Dogecoin becoming a wholly-owned subsidiary of Shuttle, with United Dogecoin equity holders receiving Series B-1 Convertible Preferred Stock and pre-funded warrants. A concurrent $11 million PIPE financing will issue Series B-2 Convertible Preferred Stock and common warrants to accredited investors. The combined entity expects to deploy 3,000 new mining rigs, achieving approximately 1.5% of the global Dogecoin mining capacity, and will be co-led by United Dogecoin's CEO, Ryan Trasolini.