Shuttle Pharma shares surge 11.69% after-hours after announcing $3.5M public offering for marketing and working capital.

Shuttle Pharmaceuticals (NASDAQ: SHPH) surged 11.69% in after-hours trading following the announcement of a $3.5 million public offering. The company plans to use up to $1.5 million of the proceeds for marketing efforts and the remainder for working capital. This capital raise, led by E.F. Hutton & Co., signals a strategic move to fund growth initiatives, including expanded marketing for its AI-driven drug discovery platform, Molecule.ai. The offering, which closed its registration statement in early March, aligns with investor optimism about the company’s long-term development prospects. Unrelated news about Uber’s shuttle challenges and a March Madness event in Buffalo had no bearing on the stock’s performance.