Company: SXTPW
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-043779
Chunk: 40

Company: 60 DEGREES PHARMACEUTICALS, INC.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 40
---
 common stock and paid $60,000 in cash to our
executives in settlement of 2024 performance bonuses, as approved by our Board in December 2024.

23

●On January 28, 2025, we announced the approval by an Investigational Review Board (IRB) of a new Phase
II clinical study. The study (NCT06656351) will evaluate the efficacy and safety of the ARAKODA® regimen (tafenoquine) over 90 days
for treating patients with a presumptive diagnosis of chronic babesiosis who have experienced severe fatigue with significant functional
impairment for at least six months upon enrollment. Patient enrollment is expected to begin in Q3 2025.

●In February 2025, the FDA authorized the importation of Kodatef from Australia, to cover any future disruption
of Arakoda in the U.S. market. Kodatef is the branded version of tafenoquine for malaria prevention approved by the TGA for use in Australia.
The Company made this request of the FDA due to robust demand for Arakoda in late 2024 and early 2025, and the potential for delays in
the completion of new lots of Arakoda currently being commercially validated by our key supplier, PCI. Although we anticipate that new
commercial Arakoda lots will enter the supply chain prior to the exhaustion of existing inventory, Kodatef will be available to cover
any shortage through a specialty pharmacy that already carries Arakoda, and has the capacity to ship to customers in all 50 states.

●We issued an aggregate of 385,200 shares of common stock during the quarter upon the exercise of 385,200
pre-funded warrants issued in September 2024, resulting in proceeds of $1,926.

1:5 Reverse Stock 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, 2024, a majority of our stockholders approved the proposed reverse stock split. On February 10, 2025, the Board
approved a 1-for-5 reverse split ratio. On February 18, 2025, we filed a Certificate of Amendment to the Certificate of Incorporation,
as corrected, with the Secretary of State of the State of