Company: SXTPW
Filing Date: 2025-03-27
Form Type: S-1/A
Source: 0001013762-25-003353
Chunk: 107

Company: 60 DEGREES PHARMACEUTICALS, INC.
Filing Date: 2025-03-27
Form: S-1/A
Chunk 107
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, we recorded higher compensation expenses including $275,114 of bonus expense and $662,951 of salaries, taxes, and benefits expense, respectively (compared to $0 and $492,780 for the year ended December 31, 2023, respectively) due to certain sales and performance bonuses payable to our executives, and higher salaries due to hiring of our new Chief Commercial Officer in February 2024. Additionally, during the year ended December 31, 2024, we incurred $410,016 in legal and professional fees, $549,912 of insurance expenses, $1,019,111 of investor outreach expenses, and $433,884 of advertising and promotion expenses (up from $268,611, $304,581, $668,639, and $172,551 for the year ended December 31, 2023, respectively). These were partially offset by a significant decrease in stock-based compensation, which decreased from $528,926 for the year ended December 31, 2023 to $32,767 for the year ended December 31, 2024. The decrease is, in part, due to a decrease in the average grant date fair value of stock-based awards granted in 2024 as compared to 2023, as well as certain fully vested stock-based awards granted to our directors on the closing date of our IPO, and to our executives at the end of 2023. Interest and Other Income (Expense), Net

| Consolidated Statements of Operations Data:    |     | For the Year Ended 
 December 31,       
 2024               |           |   |     | 2023 |            |   |     | $ Change |            |   |     | % Change |           |    |
|:-----------------------------------------------|:----|:-------------------|----------:|:--|:----|:-----|-----------:|:--|:----|:---------|-----------:|:--|:----|:---------|----------:|:---|
| Interest Expense                               |     | $                  |    (7,912 | ) |     | $    | (2,286,637 | ) |     | $        |  2,278,725 |   |     |          |    (99.65 | )% |
| Derivative Expense                             |     |                    |         - |   |     |      |   (399,725 | ) |     |          |    399,725 |   |