Company: SXTPW
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001013762-25-003343
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Company: 60 DEGREES PHARMACEUTICALS, INC.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 1
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Item
1. Description of Business.

Overview

We
are a specialty pharmaceutical company with a goal of using cutting-edge biological science and applied research to further develop and
commercialize new therapies for the prevention and treatment of infectious diseases. We have successfully achieved regulatory approval
of Arakoda, a malaria preventative treatment that has been on the market since late 2019. Currently, 60P’s pipeline under development
covers development programs for vector-borne, fungal, and viral diseases utilizing three of the Company’s future products: (i)
new products that contain the Arakoda regimen of Tafenoquine; (ii) new products that contain Tafenoquine; and (iii) Celgosivir. Additionally,
we are conducting due diligence activities in relation to potential in-licensing of a product relevant to Lyme disease and an antimalarial
combination partner for Tafenoquine for P. vivax malaria.

Corporate
History

60
                                            Degrees Pharmaceuticals, Inc. is a Delaware corporation that was incorporated on June 1,
                                            2022. On June 1, 2022, 60 Degrees Pharmaceuticals, LLC, a District of Columbia limited liability
                                            company (“60P LLC”), entered into the Agreement and Plan of Merger with 60 Degrees
                                            Pharmaceuticals, Inc., pursuant to which 60P LLC merged into 60 Degrees Pharmaceuticals,
                                            Inc. The value of each outstanding member’s membership interest in 60P LLC was correspondingly
                                            converted into common stock of 60 Degrees Pharmaceuticals, Inc., par value $0.0001 per share,
                                            with a cost-basis equal to $300.00 per share.

We
also operate one subsidiary. A summary of our majority-owned subsidiary is below.

We
own 97% equity in 60P Australia Pty Ltd, a Sydney-Australia based subsidiary (“60P Australia”). 60P Australia holds sub-licensing
rights for several ex-U.S. territories for our product.

60P
Australia previously solely owned a Singaporean subsidiary company, 60P Singapore Pte. Ltd., which dissolved at our election in the second
quarter of 2022.

1

Recent
Developments

Reverse Split

On November 6, 2024, our Board of Directors (“Board”)
approved a reverse stock split of our Common Stock at a split ratio ranging between 1:3 and 1:5, as determined by the Board in its sole
discretion. On November 6,