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].
60 Degrees Pharmaceuticals Announces 2024 Annual Results