Company: SXTPW
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-043779
Chunk: 169

Company: 60 DEGREES PHARMACEUTICALS, INC.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 2
Chunk 169
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 USAMMDA contract we were awarded in July 2024 to facilitate commercial validation of a new bottle and replacement
blister packaging of Arakoda. We recognized research revenues of $77,966 related to this grant for the three months ended March 31, 2025
($0 for the three months ended March 31, 2024). We also recognized research revenues from the Australian Tax Authority for research activities
conducted in Australia of $5,138 for the three months ended March 31, 2025 ($29,631 for the three months ended March 31, 2024).

Operating Expenses

    For the Three Months Ended March 31,  

    Consolidated Statements of Operations Data: 
    2025  
    2024  
    $ Change  
    % Change 
  
    Research and Development 
    $407,622  
    $337,182  
    $70,440  
     20.89%
  
    General and Administrative Expenses 
     1,686,264  
     1,075,134  
     611,130  
     56.84 
  
    Total Operating Expenses 
    $2,093,886  
    $1,412,316  
    $681,570  
     48.26%

Research and Development 

Research and development costs increased by $70,440
for the three months ended March 31, 2025 when compared to the three months ended March 31, 2024. Research and development costs incurred
for the three months ended March 31, 2025 and 2024 primarily consisted of costs related to our babesiosis trial for tafenoquine. 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