Shuttle Pharmaceuticals (NASDAQ: SHPH) is a company working towards developing cancer treatments through the use of radiation. The company holds extremely strong prospects, especially in light of some recent developments that have been making the rounds, as of late.
Shuttle Pharmaceuticals Publishes Cancer Research Manuscript
Shuttle Pharmaceuticals (SHPH) released a publication earlier this week entitled “radiation therapy induces innate immune in patients treated for prostate cancer”. This publication is being lauded by many, given its association to the extremely high-profile journal, Clinical Cancer Research (CCR). It shed extremely valuable light into the immune response observed in patients afflicted by prostate cancer, and could potentially act as a guide towards future research into this area. In addition to the tremendous value it brings to research surrounding prostate cancer in general, it points out the strength in the development pipeline of Shuttle Pharmaceuticals. This really amplifies the investment potential of the company and makes it an attractive pharma stock to consider.
SHPH secures $4.3 million
In another update, SHPH made the news with the update of its private placement, which brought in a total of $4.3 million, thus significantly boosting its liquidity position. Having a strengthened balance sheet vastly enhances the future of Shuttle Pharmaceuticals, as it would for any company without a commercialized product entered into the market. The financing comes from a single institutional investor who took in senior secured convertible notes. As a result, its cash and liquid assets have shot up from $9.1 million to almost $13.5 million, thus vastly pushing ahead the company’s runway to development.
Conclusion
SHPH stock has just seen its growth potential increase with a string of recent updates. The release of its prostate cancer journal points to the strength of radiation therapy. This coupled with its recent financing vastly boosts Shuttle Pharmaceuticals’ future.
