Shuttle Pharmaceuticals Stock Drops 25% After Announcing Non-Binding AI Acquisition Intent

(RTTNews) - Shuttle Pharmaceuticals Holdings, Inc. (SHPH) fell 25.86 percent, declining $1.22 to $3.53 on Friday, after the company announced it signed a non-binding letter of intent to acquire Molecule.ai, an artificial intelligence firm focused on accelerating drug discovery and development. The stock is currently trading at $3.94, compared with a previous close of $4.76 on the Nasdaq. Shares opened at $5.55 and have traded between $3.75 and $5.59 so far today, with trading volume rising to 1.4 million shares, significantly above the average of 125,000. Over the past 52 weeks, Shuttle Pharmaceuticals shares have ranged between $3.00 and $56.25.