05:04 PM EDT, 06/24/2025 (MT Newswires) -- Shuttle Pharmaceuticals ( SHPH ) closed its private placement of securities with an accredited investor for aggregate gross proceeds of $4.25 million.

Net proceeds are expected to be used for potential acquisitions, marketing and other general corporate purposes, the company said Tuesday in a statement.

The company issued 1.18 million shares at $3.60 apiece in connection with the offering.

Shuttle Pharmaceuticals ( SHPH ) shares rose 2.6% in after-hours trading.