Company: SXTPW
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001013762-25-003343
Chunk: 597

Company: 60 DEGREES PHARMACEUTICALS, INC.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 1C
Chunk 597
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 higher during the year ended December 31, 2023 at $191,111, as compared to $22,046 during the
year ended December 31, 2024. Due to these factors, the Gross Margin % increased significantly from (87.15%) for the year ended December
31, 2023 to 37.78% for the year ended December 31, 2024. 

Other Operating Revenues

    For the Year Ended
    December 31,  

    Consolidated Statements of Operations Data: 
    2024  
    2023  
    $ Change  
    % Change 
  
    Research Revenues 
    $73,771  
    $-  
    $73,771  
     N/A 

The research revenues earned by us were $73,771
for the year ended December 31, 2024, as compared to $0 for the year ended December 31, 2023. Our research revenues for the year ended
December 31, 2024 primarily relate to research revenues earned from the Australian Tax Authority for research expenses conducted in Australia,
and we earned $55,395 during the year ended December 31, 2024 ($0 during the year ended December 31, 2023). We did not earn research
revenues from the Australian Tax Authority in 2023 due to the cancellation of our COVID-19 trial, after which we made the decision not
to file for the research rebate. In 2024, we also began to recognize research revenues related to the new USAMMDA contract we were awarded
in July 2024 to facilitate commercial validation of a new bottle and replacement blister packaging of Arakoda.

Operating Expenses

    For the Year Ended December 31,  

    Consolidated Statements of Operations Data: 
    2024  
    2023  
    $ Change  
    % Change 
  
    Research and Development 
    $4,986,526  
    $691,770  
    $4,294,756  
     620.84%
  
    General and Administrative Expenses 
     5,024,985  
     4,241,836  
     783,149  
     18.46 
  
    Total Operating Expenses 
    $10,011,511  
    $4,933,606  
    $5,077,905