Core Viewpoint - 60 Degrees Pharmaceuticals, Inc. reported significant growth in net product revenues and gross profit for the fiscal year 2024, driven by increased sales of ARAKODA, while also facing higher operating expenses and net losses attributable to common shareholders [1][4]. Financial Highlights - FY 2024 net product revenues increased 140% to $607.6 thousand from $253.6 thousand in FY 2023 [4]. - FY 2024 gross profit improved to approximately $222.8 thousand, a turnaround from a gross loss of approximately $221 thousand in FY 2023 [4]. - Operating expenses rose to approximately $10.0 million in FY 2024, up from approximately $4.9 million in FY 2023, primarily due to non-recurring R&D charges [4]. - Net loss attributable to common shareholders was approximately $8.43 million, or $18.55 per share, compared to a net loss of approximately $3.925 million, or $59.18 per share in FY 2023 [4]. Recent Business Highlights - The company submitted a regulatory discretion request to the FDA in December 2024 for the importation of Kodatef, which was granted in February 2025, ensuring continuous supply of ARAKODA in the U.S. [4]. - The company is completing validation of two additional lots of ARAKODA for release into the supply chain by early Q2 2025 [4]. - A randomized evaluation of tafenoquine versus placebo in hospitalized patients with babesiosis commenced in 2024, with interim analysis expected in Q1 2026 [4]. - An open label evaluation of Arakoda in immunosuppressed patients with relapsing/persistent babesiosis began in Q1 2025, with plans to enroll up to 15 patients [4]. - The company completed an epidemiological study on the incidence of babesiosis, with results to be submitted to a peer-reviewed journal [4].

Regulatory Approvals and Clinical Trials - The company has successfully achieved regulatory approval for Arakoda, a malaria preventative treatment, which has been on the market since late 2019[21]. - The FDA authorized the importation of Kodatef from Australia to cover potential disruptions of Arakoda in the U.S. market due to robust demand[47]. - An Investigational Review Board (IRB) approved a Phase II clinical study to evaluate the efficacy and safety of Tafenoquine for chronic babesiosis, with patient enrollment expected to begin in Q3 2025[48]. - The first patient has been enrolled in an expanded access clinical study for persistent babesiosis, confirming the activity of Tafenoquine in patients who have failed standard treatment[49]. - The company entered into a clinical trial agreement with Brigham and Women's Hospital to evaluate tafenoquine for hospitalized babesiosis patients, addressing a critical unmet medical need[51]. - The company is planning three clinical trials for Tafenoquine in babesiosis, with the first patient randomized on June 25, 2024, and interim analysis expected by January 31, 2026[99]. - The FDA has requested a new design for a pediatric malaria prophylaxis study, with an estimated cost of $2 million and a potential start date in Q2 2026[108]. - The FDA requires completion of preclinical laboratory tests and animal studies before human clinical trials can begin[134]. - An IND must be submitted to the FDA, which includes preclinical test results and plans for clinical trials, and there is a 30-day waiting period before trials can commence[137]. - Clinical trials are conducted in four phases, with Phase 1 focusing on safety and dosage, Phase 2 on efficacy and safety risks, Phase 3 on large-scale efficacy and safety evaluation, and Phase 4 on post-approval studies[146]. Financial Activities and Market Research - On February 5, 2025, the company sold 300,700 shares of common stock at a purchase price of $3.575 per share, raising net proceeds of $908,627[27][36]. - The company also sold 204,312 shares of common stock at a purchase price of $5.105 per share on January 28, 2025, raising net proceeds of approximately $804,346[37][46]. - In September 2024, the company entered into a securities purchase agreement for the sale of an aggregate of 1,739,133 shares of Common Stock through Pre-Funded Warrants and Series A and B Warrants[54][55]. - The company conducted market research indicating that the total U.S. market for malaria prevention therapies represents around 1.1 million prescriptions, with an accessible market for ARAKODA estimated at about 330,000 prescriptions[61]. - The company is repositioning tafenoquine for the treatment of chronic tick-borne disease (babesiosis), estimating a potential addressable market of 375,000 cases in the U.S.[62]. - The company is conducting market assessments for babesiosis, including qualitative interviews and plans for quantitative research in Q2 2025[92]. - The total operating expense for the development of Arakoda was less than $10 million, showcasing the company's ability to achieve clinical milestones cost-effectively[88]. Product Development and Pipeline - The company's pipeline includes development programs for vector-borne, fungal, and viral diseases, utilizing products such as Tafenoquine and Celgosivir[21]. - The company is evaluating tafenoquine for potential utility in fungal and viral diseases, including Dengue and RSV, which have significant global and U.S. hospitalization rates[70]. - The company has entered into a cooperative research and development agreement with the U.S. Army to complete the development of Arakoda (Tafenoquine) for malaria prevention, with a new drug application submitted to the FDA in 2018[78]. - Arakoda was approved by the FDA and Australia's Therapeutic Goods Administration in 2018 for malaria prevention, featuring convenient once-weekly dosing and good tolerability[80]. - Tafenoquine has shown potential in treating Candida infections, with 50,000 reported cases of candidiasis annually in the U.S., and could become a market-leading therapy for C. auris[74]. - The company is focused on developing treatments that utilize Tafenoquine, with multiple patents pending for its use in various infectious diseases[115]. Intellectual Property and Patents - The company holds exclusive worldwide licenses for Tafenoquine and has submitted patent applications for its use in various diseases, including COVID-19 and fungal infections[111]. - The company holds multiple patents related to the treatment of Dengue and Malaria, with several patents expiring in 2034 and 2035, indicating a strong pipeline in infectious disease therapeutics[112][114]. - The US patent for the treatment of human coronavirus infections is set to expire on February 19, 2041, showcasing the company's focus on addressing viral infections[115]. - The patent for the novel dosing regimens of Celgosivir for Dengue treatment has an estimated expiration in 2034, reflecting ongoing innovation in antiviral therapies[112]. - The patent portfolio includes treatments for Zika virus infections, with patents expiring in May 2037, indicating diversification in viral infection therapeutics[115]. - The anticipated expiration of several patents in 2041 suggests a long-term strategy for maintaining a competitive edge in the pharmaceutical market[116]. Sales and Marketing Strategies - A nine-month promotional pilot for ARAKODA® (tafenoquine) was launched to increase awareness and sales among healthcare providers and patients[52]. - The company plans to focus on increasing sales of Arakoda, conducting clinical trials for new indications, and repositioning small molecule therapeutics with good safety profiles[90]. - A new Chief Commercial Officer was hired in February 2024 to lead efforts in reintroducing Arakoda and planning new products for tick-borne diseases[92]. - The Arakoda commercial pilot program will start on March 17, 2025, aiming to increase awareness, drive trial and usage, and facilitate access and affordability[95]. - The company plans to relaunch Arakoda for malaria prevention in the United States in 2025[126]. Regulatory Compliance and FDA Processes - The FDA aims to review most NDAs within ten months and priority review applications within six months from the date of filing[150]. - Pre-approval inspections of manufacturing facilities are conducted by the FDA to ensure compliance with cGMP requirements before NDA approval[151]. - The FDA may require a Risk Evaluation and Mitigation Strategy (REMS) as a condition of approval to ensure the benefits of a product outweigh its risks[152]. - Fast-track, breakthrough therapy, and priority review designations are available for products addressing unmet medical needs, potentially expediting the review process[154]. - The FDA conducts a preliminary review of an NDA within 60 days and may request additional information before accepting it for substantive review[150]. - Companies must submit progress reports detailing clinical trial results at least annually to the FDA[147]. - The FDA may refer an application for a novel drug to an advisory committee for evaluation and recommendations[153]. Royalties and Financial Obligations - The company is obligated to pay royalties at a rate of 1.5% of gross sales under the 2014 NUS-SHS Agreement[119]. - The company will pay a minimum annual royalty of 3% of net sales for net sales under $35 million, and 5% for net sales exceeding $35 million under the U.S. Army Agreement[120]. - The company will pay Knight a royalty equal to 3.5% of net sales until July 12, 2033, or the conversion of all Series A Preferred Stock[124]. - The company is required to pay a sales-based milestone fee of $75,000 once cumulative net sales exceed $6 million under the U.S. Army Agreement[120]. - The company has a minimum annual royalty payment of $15,000 for the 2016 NUS-SHS Agreement in 2023[121].

Core Viewpoint - 60 Degrees Pharmaceuticals, Inc. announced a 1-for-5 reverse stock split to comply with Nasdaq's minimum bid price requirement of $1.00 for maintaining its listing [1][2]. Group 1: Reverse Stock Split Details - The reverse stock split will convert five current shares into one new share, effective February 24, 2025 [1][4]. - The new CUSIP number for the Common Stock post-split will be 83006G401 [1]. - No fractional shares will be issued; all fractions will be rounded up to the next whole share [5]. Group 2: Compliance and Approval - The reverse stock split was approved by stockholders on November 6, 2024, with the Board of Directors authorized to determine the exact ratio [3]. - The Board approved the 1-for-5 ratio on February 10, 2025, and filed the necessary amendment on February 18, 2025 [3]. Group 3: Company Overview - 60 Degrees Pharmaceuticals, Inc. focuses on developing new medicines for infectious diseases and achieved FDA approval for its lead product, ARAKODA® (tafenoquine), in 2018 [7]. - The company collaborates with research organizations in the U.S., Australia, and Singapore, and has received support from the U.S. Department of Defense and private investors [7].

Core Viewpoint - 60 Degrees Pharmaceuticals, Inc. has received FDA approval to import KODATEF (tafenoquine) from Australia as a precautionary measure to ensure the availability of ARAKODA (tafenoquine) in the U.S. market [1][3] Group 1: Product Information - ARAKODA is an antimalarial drug approved for malaria prophylaxis in patients aged 18 and older in the U.S., while KODATEF is its equivalent in Australia [2][5] - Both ARAKODA and KODATEF share identical dosing regimens, mechanisms of action, safety and efficacy profiles [2][5] - Tafenoquine has a long terminal half-life of approximately 16 days, allowing for less frequent dosing [5] Group 2: Market Demand and Supply Strategy - Demand for ARAKODA has been increasing in the U.S. due to heightened awareness and usage [3] - The company plans to import a five-month supply of KODATEF while also increasing the manufacturing output of ARAKODA in the long term [3] Group 3: Company Background - 60 Degrees Pharmaceuticals, Inc. was founded in 2010 and focuses on developing medicines for infectious diseases [16] - The company achieved FDA approval for ARAKODA in 2018, with both ARAKODA and KODATEF launched commercially in 2019 [5][16]

Raised approximately $2.118 million in gross proceeds since the beginning of 2025WASHINGTON, Feb. 06, 2025 (GLOBE NEWSWIRE) -- 60 Degrees Pharmaceuticals, Inc. (NASDAQ: SXTP; SXTPW) (the “Company”), a pharmaceutical company focused on developing new medicines for infectious diseases, today announced the closing of its previously announced registered direct offering priced at-the-market under Nasdaq rules for the purchase and sale of an aggregate of 1,503,500 shares of its common stock at a purchase price of ...

WASHINGTON, Feb. 05, 2025 (GLOBE NEWSWIRE) -- 60 Degrees Pharmaceuticals, Inc. (NASDAQ: SXTP; SXTPW) (the “Company”), a pharmaceutical company focused on developing new medicines for infectious diseases, today announced that it has entered into definitive agreements for the purchase and sale of an aggregate of 1,503,500 shares of its common stock at a purchase price of $0.715 per share in a registered direct offering priced at-the-market under Nasdaq rules. In addition, in a concurrent private placement, th ...

Core Viewpoint - 60 Degrees Pharmaceuticals, Inc. has successfully closed a registered direct offering, raising approximately $1.043 million through the sale of 1,021,549 shares of common stock at a price of $1.021 per share, along with a concurrent private placement of short-term warrants [1][2]. Group 1: Offering Details - The registered direct offering involved the sale of 1,021,549 shares of common stock at a price of $1.021 per share [1]. - In addition to the common stock offering, the company issued unregistered short-term warrants to purchase up to 2,043,098 shares of common stock at an exercise price of $0.771 per share [1]. - The gross proceeds from the offering were approximately $1.043 million, before deducting fees and expenses [2]. Group 2: Use of Proceeds - The company intends to use the net proceeds from the offering for working capital and other general corporate purposes [2]. Group 3: Regulatory Compliance - The shares of common stock were offered under a "shelf" registration statement filed with the SEC, which became effective on July 18, 2024 [3]. - The short-term warrants were issued in a private placement and have not been registered under the Securities Act, limiting their sale in the U.S. [4]. Group 4: Company Background - 60 Degrees Pharmaceuticals, Inc. specializes in developing new medicines for infectious diseases and achieved FDA approval for its lead product, ARAKODA® (tafenoquine), for malaria prevention in 2018 [6]. - The company collaborates with prominent research organizations in the U.S., Australia, and Singapore, and has received support from the U.S. Department of Defense and private investors [6].

Core Viewpoint - 60 Degrees Pharmaceuticals, Inc. has announced a registered direct offering of 1,021,549 shares of common stock at a price of $1.021 per share, along with a concurrent private placement of short-term warrants to purchase up to 2,043,098 shares at an exercise price of $0.771 per share [1][2]. Group 1: Offering Details - The total gross proceeds from the offering are expected to be approximately $1.043 million before deducting fees and expenses [2]. - The closing of the offering is anticipated to occur on or about January 30, 2025, pending customary closing conditions [1]. - The shares are being offered under a "shelf" registration statement that became effective on July 18, 2024 [3]. Group 2: Use of Proceeds - The net proceeds from the offering are intended for working capital and other general corporate purposes [2]. Group 3: Company Background - 60 Degrees Pharmaceuticals, Inc. specializes in developing new medicines for infectious diseases and received FDA approval for its lead product, ARAKODA® (tafenoquine), in 2018 [6]. - The company collaborates with research organizations in the U.S., Australia, and Singapore and has received support from the U.S. Department of Defense and private investors [6].

Investigational Review Board (IRB) approval has been granted for the open-label study to evaluate tafenoquine for treatment of patients with a presumptive diagnosis of chronic babesiosis in outpatient settings.Enrollment expected to commence Q3 2025. WASHINGTON, Jan. 28, 2025 (GLOBE NEWSWIRE) -- 60 Degrees Pharmaceuticals, Inc. (NASDAQ: SXTP; SXTPW) (the “Company”), a pharmaceutical company focused on developing new medicines for infectious diseases, announced today the approval of an Investigational Review ...

Clinical Study and Market Potential - The first patient has been enrolled in NCT06478641, an expanded access clinical study to confirm the activity of tafenoquine in treating persistent babesiosis in high-risk patients who have failed standard care [1] - Tafenoquine exhibited an 80% cure rate in five high-risk patients with persistent, relapsing babesiosis who had failed prior standard-of-care treatments [2] - The total cumulative accessible market for ARAKODA (tafenoquine) for babesiosis may exceed 400,000 patients through the end of U.S. patent protection in December 2035 [4][8] Tafenoquine and ARAKODA Overview - Tafenoquine is approved for malaria prophylaxis in the U.S. under the product name ARAKODA and in Australia as KODATEF [6] - ARAKODA is indicated for malaria prophylaxis in patients aged 18 years and older, with a long terminal half-life of approximately 16 days, offering potential advantages in less-frequent dosing [6][7] - Tafenoquine was discovered by Walter Reed Army Institute of Research and commercially launched in 2019 [6] Safety and Adverse Reactions - ARAKODA should not be administered to patients with G6PD deficiency, during pregnancy or lactation, or with a history of psychotic disorders [9][10][11][17] - Common adverse reactions include headache, dizziness, back pain, diarrhea, nausea, vomiting, increased alanine aminotransferase, motion sickness, insomnia, depression, abnormal dreams, and anxiety [13] - Serious hypersensitivity reactions, delayed adverse reactions, and psychiatric effects have been observed with ARAKODA use [12] Company Background - 60 Degrees Pharmaceuticals, founded in 2010, specializes in developing and marketing new medicines for infectious diseases [16] - The company achieved FDA approval of ARAKODA for malaria prevention in 2018 and collaborates with research organizations in the U.S., Australia, and Singapore [16] - The company is headquartered in Washington D.C., with a majority-owned subsidiary in Australia [18]