Company: SXTPW
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-043779
Chunk: 9

Company: 60 DEGREES PHARMACEUTICALS, INC.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 9
---
 (tafenoquine), for malaria prevention, in 2018. Currently, 60P’s pipeline under development
covers development programs for tick-borne fungal and other viral diseases utilizing three of the Company’s future products: (i)
new products that contain the Arakoda regimen of tafenoquine; (ii) new products that contain tafenoquine; and (iii) celgosivir and/or
botanical extracts from Australian Chestnut Trees. The Company’s headquarters are located in Washington, D.C., with a majority-owned
subsidiary in Australia.

Initial Public Offering

On July 14, 2023, the Company closed its initial
public offering consisting of 23,585 units at a price of $318.00 per unit for $6,454,325 in net proceeds (the “IPO”). Each
unit consisted of one share of common stock of the Company, par value $0.0001 per share, one tradeable warrant to purchase one share of
common stock at an exercise price of $365.70 per share (a “Tradeable Warrant”), and one non-tradeable warrant to purchase
one share of the Company’s common stock at an exercise price of $381.60 per share (a “Non-tradeable Warrant”). The Tradeable
Warrants and Non-Tradeable Warrants were immediately exercisable on the date of issuance and will expire five years from the date of issuance
(July 12, 2023 to July 12, 2028). The common stock and tradeable warrants began trading on The Nasdaq Capital Market on July 12, 2023
under the symbols “SXTP” and “SXTPW,” respectively. The closing of the IPO occurred on July 14, 2023.

Risks and Uncertainties

The Company is subject to risks common to companies
in the biopharmaceutical industry including, but not limited to, the risks associated with developing product candidates and successfully
launching and commercializing its drug/device combination products, the Company’s ability to obtain regulatory approval of such
products in the United States and other geography markets, the uncertainty of the broad adoption of its approved products by physicians
and consumers, and significant competition.

In addition, higher rates of inflation have resulted
in the U.S. Federal Reserve raising interest rates. Increases in interest rates, especially if coupled with reduced government spending
and volatility in financial markets, may further increase economic uncertainty and heighten these risks