60 DEGREES PHARMACEUTICALS INC
For the period ended Jun 30, 2024. Filed Aug 14, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2024 · Filed Aug 14, 2024
SXTP$0.52-4.7%Stored close · as of Nov 10, 2026
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Consolidated Condensed Statements of Operations and Comprehensive Loss
CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (UNAUDITED)
| For the Three Months Ended June 30, | For the Six Months Ended June 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| Product Revenues – net of Discounts and Rebates | $124,972 | $59,532 | $230,646 | $76,704 |
| Service Revenues | - | - | 10,789 | - |
| Product and Service Revenues, net | 124,972 | 59,532 | 241,435 | 76,704 |
| Cost of Revenues | 89,564 | 183,977 | 155,001 | 257,097 |
| Gross Profit (Loss) | 35,408 | (124,445) | 86,434 | (180,393) |
| Research Revenues | 728 | 3,116 | 30,359 | 7,408 |
| Net Revenue (Loss) | 36,136 | (121,329) | 116,793 | (172,985) |
| Operating Expenses: | ||||
| Research and Development | 3,095,326 | 203,872 | 3,432,508 | 327,866 |
| General and Administrative Expenses | 1,129,560 | 462,795 | 2,204,694 | 1,237,809 |
| Total Operating Expenses | 4,224,886 | 666,667 | 5,637,202 | 1,565,675 |
| Loss from Operations | (4,188,750) | (787,996) | (5,520,409) | (1,738,660) |
| Interest Expense | (3,621) | (1,099,656) | (5,023) | (2,241,085) |
| Derivative Expense | - | (399,725) | - | (399,725) |
| Change in Fair Value of Derivative Liabilities | (1,101) | 7,968 | 1,739,746 | 2,834 |
| Loss on Debt Extinguishment | - | - | - | (839,887) |
| Change in Fair Value of Promissory Note | - | (1,064,849) | - | (725,797) |
| Other Income, net | 19,684 | 730 | 39,946 | 1,321 |
| Total Interest and Other Income (Expense), net | 14,962 | (2,555,532) | 1,774,669 | (4,202,339) |
| Loss from Operations before Provision for Income Taxes | (4,173,788) | (3,343,528) | (3,745,740) | (5,940,999) |
| Provision for Income Taxes (Note 9) | 438 | 63 | 501 | 126 |
| Net Loss including Noncontrolling Interest | (4,174,226) | (3,343,591) | (3,746,241) | (5,941,125) |
| Net Loss – Noncontrolling Interest | (1,471) | (7,036) | (3,956) | (4,509) |
| Net Loss – attributed to 60 Degrees Pharmaceuticals, Inc. | (4,172,755) | (3,336,555) | (3,742,285) | (5,936,616) |
| Comprehensive Loss: | ||||
| Net Loss | (4,174,226) | (3,343,591) | (3,746,241) | (5,941,125) |
| Unrealized Foreign Currency Translation Gain (Loss) | 3,137 | (374) | (757) | (1,664) |
| Total Comprehensive Loss | (4,171,089) | (3,343,965) | (3,746,998) | (5,942,789) |
| Net Loss – Noncontrolling Interest | (1,471) | (7,036) | (3,956) | (4,509) |
| Comprehensive Loss – attributed to 60 Degrees Pharmaceuticals, Inc. | (4,169,618) | (3,336,929) | (3,743,042) | (5,938,280) |
| Cumulative Dividends on Series A Preferred Stock | (117,881) | - | (235,762) | - |
| Net Loss - attributed to Common Shareholders | $(4,287,499) | $(3,336,929) | $(3,978,804) | $(5,938,280) |
| Net Loss per Common Share: | ||||
| Basic and Diluted (1) | $(4.23) | $(16.84) | $(4.28) | $(30.44) |
| Weighted average number of common shares outstanding | ||||
| Basic and Diluted (1) | 1,014,779 | 198,170 | 929,252 | 195,109 |
| (1) | Periods presented have been adjusted to reflect the 1:12 reverse stock split on August 12, 2024. See Note 12 - Subsequent Events for more information. |
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