Company: SXTPW
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-043779
Chunk: 172

Company: 60 DEGREES PHARMACEUTICALS, INC.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 2
Chunk 172
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 31, 2025, as compared to $1,140,438 for the three months ended March 31, 2024. Our net cash used in operating activities
increased, primarily due to higher general and administrative expenses at $1,686,264 for the three months ended March 31, 2025 ($1,075,134
for the three months ended March 31, 2024), as a result of higher sales, advertising and promotion costs and investor outreach expenses,
as discussed above. In addition, we incurred higher research and development costs at $407,622 for the three months ended March 31, 2025
($337,182 for the three months ended March 31, 2024), primarily related to conducting our tafenoquine-babesiosis trial.

Cash Provided by (Used in) Investing Activities

Net cash provided by investing activities was
$1,702,518 for the three months ended March 31, 2025, as compared to net cash used in investing activities of $9,814 for the three months
ended March 31, 2024. For the three months ended March 31, 2025, we received proceeds of $1,708,000 from maturities of certain short-term
investments in certificates of deposit ($0 for the three months ended March 31, 2024). The cash proceeds are partially offset by higher
capitalized patent costs of $2,804 and fixed asset purchases of $2,678 for the three months ended March 31, 2025 ($726 and $0 for the
three months ended March 31, 2024, respectively). However, we did not capitalize website development costs for the three months ended
March 31, 2025 ($9,088 capitalized for the three months ended March 31, 2024 associated with enhancements to the functionality of our
corporate website).

Cash Provided by Financing Activities

Net cash provided by financing activities was
$1,696,899 for the three months ended March 31, 2025, as compared to $1,903,291 for the three months ended March 31, 2024. The decrease
in net cash provided by financing activities is mainly attributable to net proceeds of $1,898,296 received in connection with our common
stock and warrant offering in January 2024, which exceeded the aggregate net proceeds of $1,712,973 received in connection with our common