Company: SXTPW
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001013762-25-003343
Chunk: 938

Company: 60 DEGREES PHARMACEUTICALS, INC.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 3
Chunk 938
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241,836
for the year ended December 31, 2023) primarily due to higher cash compensation and related expenses, legal and professional fees, insurance
expenses, investor outreach expenses, and advertising and promotion expenses, as discussed above. In addition, we incurred $1,304,183
in costs related to our planned babesiosis trial for tafenoquine during the year ended December 31, 2024 ($0 during the year ended December
31, 2023).

Cash Used in Investing Activities

Net cash used in investing activities was $1,889,114
for the year ended December 31, 2024, as compared to $115,888 for the year ended December 31, 2023. The increase in cash used in investing
activities is primarily driven by purchases of short-term certificates of deposit for a total cost of $1,708,000 during the year ended
December 31, 2024 ($0 during the year ended December 31, 2023), purchased for the purposes of earning interest income. Additionally,
purchases of computer and lab equipment totaled $103,773 during the year ended December 31, 2024 ($57,623 during the year ended December
31, 2023), and capitalized website development costs and patent costs totaled $25,374 and $51,967, respectively, for the year ended December
31, 2024 ($18,283 and $39,982 for the year ended December 31, 2023, respectively).

54

Cash Provided by Financing Activities

Net cash provided by financing activities was
$7,053,571 for the year ended December 31, 2024, as compared to $6,474,565 for the year ended December 31, 2023. The increase in net
cash provided by financing activities is primarily attributable to (i) net proceeds of $1,914,513 received for the sale of common stock
and warrants in January 2024, (ii) net proceeds of $1,790,670 from the sale of common stock pursuant to the At-the-Market Sales Agreement
in July and August 2024, and (iii) $3,439,502 received from the sale of warrants in our Private Placement offering that closed in September
2024, in each case partially offset by payment of deferred offering costs. Cash provided by financing activities for the year ended December
31, 2023 related to net proceeds of $6,454