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Shuttle Pharmaceuticals Holdings Fall Continues; Stock Down 11%

Shares of Shuttle Pharmaceuticals Holdings, Inc. (SHPH) continues to fall, as it slips over 11% on Wednesday morning. The stock has plunged over 81% since its debut on August 31.

SHPH is currently trading at $7.47, down $1.01 or 11.93%, on the Nasdaq. The stock opened its trading at $9.66 after closing Tuesday's trading at $8.48. The stock has traded between $7.25 and $126.26 in the past 52-week period.

Shuttle Pharmaceuticals is a development stage specialty pharmaceutical company focused on improving the outcomes of cancer patients treated with radiation therapy (RT) while reducing its side effects.

On Tuesday, the company said it entered into an agreement with TCG GreenChem, Inc. to manufacture Ropidoxuridine, the company's lead clinical sensitizer drug candidate, for use in formulating the drug product for testing in clinical trials of Ropidoxuridine and RT of cancers.

The company had priced its IPO of 1.2 million shares at $8.125 per unit for proceeds of $9.96 million.

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