Shares of Shuttle Pharmaceuticals Holdings, Inc. (NASDAQ: SHPH) are rising on US stock charts today following the company’s release of a corporate update. Shuttle Pharma stock was up 10.55% to $2.62 as of the most recent pre-market check.
Shuttle Pharma Showed Progress in a Clinical Trial
In conjunction with the submission of its Quarterly Report on Form 10-Q for the second quarter ended June 30, 2024, Shuttle Pharma (SHPH) offered a corporate update. After successful agreements with two first site locations, the trial has started, with six planned sites expected to be operational soon. The objective of the Phase 2 trial is to assess the radiation sensitization efficacy of ropidoxuridine in order to improve treatment results for individuals suffering from this difficult cancer.
Strategic Turning Points and Regulatory Developments
Apart from the trial’s advancement, Shuttle Pharmaceuticals has received FDA Orphan Drug Designation. This designation highlights the importance of the company’s novel approach to treating glioblastoma and offers prospective marketing exclusivity following FDA clearance.
The two initial trial sites have completed all preparatory steps and are poised to start patient enrollment. The trial will focus on patients with IDH wild-type, methylation negative glioblastoma, who currently face a bleak prognosis with radiation therapy being the only approved standard of care.
SHPH: Future Expectations and Trial Duration
Shuttle Pharmaceuticals anticipates that the Phase 2 trial will be conducted over an 18 to 24-month period. The study will first determine the optimal dosage of Ropidoxuridine, with an additional 14 patients to be enrolled at this dose to achieve statistical significance regarding survival rates compared to historical controls.
This critical research aims to improve survival rates and quality of life for glioblastoma patients, advancing SHPH’s mission to enhance cancer treatment efficacy while minimizing radiation’s late effects. Through these significant advancements, Shuttle Pharmaceuticals is making strides toward its goal of revolutionizing cancer care and offering new hope to patients battling glioblastoma.