Company: SXTPW
Filing Date: 2025-02-14
Form Type: S-1
Source: 0001213900-25-014334
Chunk: 123

Company: 60 DEGREES PHARMACEUTICALS, INC.
Filing Date: 2025-02-14
Form: S-1
Chunk 123
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 extinguishments recognized during the three months ended September 30, 2024. Change in Fair Value of Promissory Note For the three months ended September 30, 2023, we recognized a $6,105,066 gain related to the change in the fair value of the promissory note with Knight, which was held at fair value. The gain relates to the mark to market adjustment recognized immediately prior to the automatic conversion of the outstanding debt obligation into our equity shares upon the closing of our IPO. We no longer have any debt obligations measured at fair value on a recurring basis, hence we recorded a $0 change in fair value for the three months ended September 30, 2024. Other Income (Expense), net For the three months ended September 30, 2024, we recognized $16,623 in other income compared to $70,490 in other expense for the three months ended September 30, 2023. As a result of the IPO and recent equity offerings completed in 2024, we now earn interest income as we have invested certain cash proceeds in interest-bearing accounts and short-term certificates of deposit. We recognized interest income of $16,635 during the three months ended September 30, 2024 ($0 during the three months ended September 30, 2023). 71 Comparison of the Nine Months Ended September 30, 2024, and 2023 Product Revenues - net of Discounts and Rebates, Service Revenues, Cost of Revenues, Gross Profit (Loss), and Gross Margin

|                                                 | Consolidated Statements of Operations Data: | Nine Months Ended 
 September 30,     |    2024 |   |     |   |     2023 |    |     |   | $ Change |   |     |     | % Change |    |
|:------------------------------------------------|:--------------------------------------------|:------------------|--------:|:--|:----|:--|---------:|:---|:----|:--|---------:|:--|:----|:----|---------:|:---|
| Product Revenues - net of Discounts and Rebates |                                             | $                 | 365,939 |   |     | $ |  127,892 |    |     | $ |  238,047 |   |     |     |   186.13 | %  |
| Service Revenues                                |                                             |                   |  10,789 |   |     |   |