Company: SXTPW
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001013762-25-003343
Chunk: 268

Company: 60 DEGREES PHARMACEUTICALS, INC.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 1A
Chunk 268
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,053,571  
     6,474,565  
     579,006  
     8.94 
  
    Effect of Foreign Currency Translation on Cash Flow 
     499  
     61,853  
     (61,354) 
     (99.19)
  
    Net (Decrease) Increase in Cash and Cash Equivalents 
    $(483,132) 
    $1,877,620  
    $(2,360,752) 
     (125.73)%

Cash Used in Operating Activities

Net cash used in operating activities was $5,648,088
for the year ended December 31, 2024, as compared to $4,542,910 for the year ended December 31, 2023. Our net cash used in operating
activities increased, in part due to higher general and administrative expenses of $5,024,985 for the year ended December 31, 2024 ($4,241,836
for the year ended December 31, 2023) primarily due to higher cash compensation and related expenses, legal and professional fees, insurance
expenses, investor outreach expenses, and advertising and promotion expenses, as discussed above. In addition, we incurred $1,304,183
in costs related to our planned babesiosis trial for tafenoquine during the year ended December 31, 2024 ($0 during the year ended December
31, 2023).

Cash Used in Investing Activities

Net cash used in investing activities was $1,889,114
for the year ended December 31, 2024, as compared to $115,888 for the year ended December 31, 2023. The increase in cash used in investing
activities is primarily driven by purchases of short-term certificates of deposit for a total cost of $1,708,000 during the year ended
December 31, 2024 ($0 during the year ended December 31, 2023), purchased for the purposes of earning interest income. Additionally,
purchases of computer and lab equipment totaled $103,773 during the year ended December 31, 2024 ($57,623 during the year ended December
31, 2023), and capitalized website development costs and patent costs totaled $25,374 and $51,967, respectively, for the year ended December
31, 2024 ($18,283 and $39,982 for the year ended December