Shuttle Pharmaceuticals Holdings, Inc. (SHPH): restructuring charge — Shuttle Pharma discontinues Ropidoxuridine trial, settles $557K debt for $300K

As previously disclosed by the Company in its Current Report on Form 8-K, filed with the U.S. Securities and Exchange Commission (the “SEC”) on October 21, 2025, on October 15, 2025, Shuttle Pharmaceuticals Holdings, Inc. (the “Company”) received a letter from Theradex Systems, Inc. (“Theradex”), providing written notice of termination of the master agreement, dated November 1, 2018 (the “Master Agreement”), between Shuttle Pharmaceuticals, Inc. (the Company’s wholly-owned subsidiary) and Theradex, and all work orders thereunder.

Pursuant to the notice of termination, on November 20, 2025, the Company and Theradex entered into a release and settlement agreement (the “Settlement Agreement”), pursuant to which the Company will pay a partial payment of $300,000 to Theradex as full and final payment of any and all claims relating to the debt or obligation previously owed by the Company to Theradex, totalling approximately $557,000 (the “Outstanding Liabilities”) and in consideration of such payment, each party will release, acquit and discharge each other from all claims arising from the Outstanding Liabilities and Theradex will properly wind down the Clinical Trials (as defined below) in a manner compliant with the Food and Drug Administration.

On November 20, 2025, in light of the foregoing, the Company committed to a plan to discontinue its clinical trials of Ropidoxuridine (the “Clinical Trials”), as provided for under the Master Agreement.