Company: SXTPW
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001013762-25-003343
Chunk: 255

Company: 60 DEGREES PHARMACEUTICALS, INC.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 1A
Chunk 255
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, up to the maximum allowable amount.

Operating Expenses

Research and Development

Research and development costs for the periods
presented primarily consist of contracted R&D services and costs associated with preparation for and conducting our Babesiosis trial
in 2024 and, in 2023, related to our halted COVID-19 clinical trial. We expense all research and development costs in the period in which
they are incurred. Payments made prior to the receipt of goods or services to be used in research and development are recognized as prepaid
assets and expensed over the service period as the services are provided. We have also issued shares of our common stock to vendors in
exchange for research and development services.

47

General and Administrative Expenses

Our general and administrative expenses primarily
consist of salaries, advertising and promotion expenses, professional services fees, such as consulting, audit, accounting and legal
fees, general corporate costs and allocated costs, including facilities, information technology and amortization of intangibles.

Interest and Other Income (Expense), Net

Prior to the IPO, our interest expense consisted
of interest accrued on our outstanding debt obligations and amortization of debt discounts and deferred issuance costs. Subsequently,
interest expense is mostly limited to a single, $150,000 SBA loan. Other components of other income and expense include changes in the
fair value of financial instruments, gains and losses on extinguishments of debt, and other miscellaneous income or expenses. We also
earn interest income from cash invested in interest-bearing accounts, as well as cash equivalents and short-term investments consisting
of certificates of deposits with original maturities ranging from three to six months.

3. Results of Operations

The following table sets forth our results of
operations for the periods presented:

    For the Year Ended
    December 31, 
  
    Consolidated Statements of Operations Data: 
    2024  
    2023 
  
    Product Revenues – net of Discounts and Rebates 
    $607,574  
    $253,573 
  
    Cost of Revenues 
     384,765  
     474,550 
  
    Gross Profit (Loss) 
     222,809  
     (220,977)
  
    Research Revenues 
     73,771  
     - 
  
    Net Revenue (Loss) 
     296,580  
     (220,977)

    Operating Expenses: 

    Research and Development 
     4,986,