Company: SXTPW
Filing Date: 2025-03-27
Form Type: S-1/A
Source: 0001013762-25-003353
Chunk: 248

Company: 60 DEGREES PHARMACEUTICALS, INC.
Filing Date: 2025-03-27
Form: S-1/A
Chunk 248
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 and Comprehensive Loss for the years ended December 31, 2024 and 2023:

|                                                              |     | For the Year Ended 
 December           
 31,                |      2024 |     |   |      2023 |
|:-------------------------------------------------------------|:----|:-------------------|----------:|:----|:--|----------:|
| Research and Development                                     |     | $                  | 3,227,300 |     | $ |   192,371 |
| General and Administrative Expenses                          |     |                    |   381,348 |     |   | 1,543,803 |
| Total Share-Based Compensation Expense Included in Operating 
 Expenses                                                     |     | $                  | 3,608,648 |     | $ | 1,736,174 |

Share-Based Compensation under 2022 Equity Incentive Plan

On November 22, 2022, the Company adopted the 2022 Equity Incentive Plan (the “2022 Plan”), which provides for the grant of stock options, stock appreciation rights, restricted stock, restricted stock units and performance awards to eligible employees, directors and consultants, to be granted from time to time by the Board of Directors of the Company. The 2022 Plan provides for an automatic increase in the number of shares available for issuance beginning on January 1, 2023 and each January 1 thereafter, by 4% of the number of outstanding shares of common stock on the immediately preceding December 31, or such number of shares as determined by the Board of Directors. Additionally, on July 16, 2024 and November 6, 2024 the Company’s stockholders approved an increase to the number of shares available under the 2022 Plan by 83,334shares and 100,000shares, respectively. As of December 31, 2024, the number of remaining shares available for issuance under the 2022 Plan is equal to 154,392.

Stock Grants

On July 11, 2023, the Company recognized $ 187,200of share-based compensation expense upon the one-time issuance of 668shares of common stock to the Company’s Board of Directors, by virtue of the terms of the agreements described in Note 11, which is reflected in general and administrative expenses in the consolidated statement of operations and comprehensive loss.

Stock Options

The Company grants stock options to employees, non-employees, and Directors with exercise prices equal to the closing price of the underlying shares