Company: SXTPW
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-043779
Chunk: 53

Company: 60 DEGREES PHARMACEUTICALS, INC.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 53
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afenoquine. Direct
trial-related costs represent 68% of the total research and development costs at $275,633 for the three months ended March 31, 2025, compared
to 55% of the costs at $186,091 for the three months ended March 31, 2024. We also recorded $63,015 in research and development expenses
related to commercial validation and packaging of Arakoda, for which a majority qualifies for reimbursement under the USAMMDA grant discussed
above.

30

General and Administrative Expenses

For the three months ended March 31, 2025, our general and administrative
expenses increased by approximately 57% or $611,130 from the three months ended March 31, 2024. For the three months ended March 31, 2025,
we incurred significantly higher sales, advertising and promotion expenses and investor outreach expenses at $285,287 and $393,687 for
the three months ended March 31, 2025, up from $104,064 and $182,164 for the three months ended March 31, 2024, respectively. Additionally,
for the three months ended March 31, 2025, we recognized $142,645 in stock-based compensation expense ($0 for the three months ended March
31, 2024). This increase was in part due to new partially vested option grants awarded to two executives in January 2025, as well as the
quarterly expense recognized for additional stock options granted in the third quarter of 2024.

Interest and Other Income, net

    For the Three Months Ended 
March 31,  

    Consolidated Statements of Operations Data: 
    2025  
    2024  
    $ Change  
    % Change 
  
    Interest Expense 
    $(1,790) 
    $(1,402) 
    $(388) 
     27.67%
  
    Change in Fair Value of Derivative Liabilities 
     5,105  
     1,740,847  
     (1,735,742) 
     (99.71)
  
    Other Income, net 
     30,322  
     31,051  
     (729) 
     (2.35)
  
    Total Interest and Other Income, net 
    $33,637  
    $1,770,496  
    $(1,736,859