60 DEGREES PHARMACEUTICALS INC
For the period ended Sep 30, 2024. Filed Nov 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.
Sep 30, 2024 · Filed Nov 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) Income
CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS) INCOME (UNAUDITED)
| For the Three Months Ended September 30, | For the Nine Months Ended September 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| Product Revenues – net of Discounts and Rebates | $135,293 | $51,188 | $365,939 | $127,892 |
| Service Revenues | - | - | 10,789 | - |
| Product and Service Revenues, net | 135,293 | 51,188 | 376,728 | 127,892 |
| Cost of Revenues | 111,687 | 71,196 | 266,688 | 328,293 |
| Gross Profit (Loss) | 23,606 | (20,008) | 110,040 | (200,401) |
| Research Revenues | 12,818 | 75,566 | 43,177 | 82,974 |
| Net Revenue (Loss) | 36,424 | 55,558 | 153,217 | (117,427) |
| Operating Expenses: | ||||
| Research and Development | 940,063 | 263,703 | 4,372,571 | 591,569 |
| General and Administrative Expenses | 1,215,053 | 1,313,617 | 3,419,747 | 2,551,426 |
| Total Operating Expenses | 2,155,116 | 1,577,320 | 7,792,318 | 3,142,995 |
| Loss from Operations | (2,118,692) | (1,521,762) | (7,639,101) | (3,260,422) |
| Interest Expense | (1,467) | (40,106) | (6,490) | (2,281,191) |
| Derivative Expense | - | - | - | (399,725) |
| Change in Fair Value of Derivative Liabilities | (56,712) | 92,490 | 1,683,034 | 95,324 |
| Loss on Debt Extinguishment | - | (391,593) | - | (1,231,480) |
| Change in Fair Value of Promissory Note | - | 6,105,066 | - | 5,379,269 |
| Other Income (Expense), net | 16,623 | (70,490) | 56,569 | (69,169) |
| Total Interest and Other Income (Expense), net | (41,556) | 5,695,367 | 1,733,113 | 1,493,028 |
| (Loss) Income from Operations before Provision for Income Taxes | (2,160,248) | 4,173,605 | (5,905,988) | (1,767,394) |
| Provision for Income Taxes (Note 9) | 250 | 63 | 751 | 189 |
| Net (Loss) Income including Noncontrolling Interest | (2,160,498) | 4,173,542 | (5,906,739) | (1,767,583) |
| Net (Loss) Income – Noncontrolling Interest | (713) | (9,656) | (4,669) | (14,165) |
| Net (Loss) Income – attributed to 60 Degrees Pharmaceuticals, Inc. | (2,159,785) | 4,183,198 | (5,902,070) | (1,753,418) |
| Comprehensive (Loss) Income: | ||||
| Net (Loss) Income | (2,160,498) | 4,173,542 | (5,906,739) | (1,767,583) |
| Unrealized Foreign Currency Translation Gain | 4,403 | 9,342 | 3,646 | 7,678 |
| Total Comprehensive (Loss) Income | (2,156,095) | 4,182,884 | (5,903,093) | (1,759,905) |
| Net Loss – Noncontrolling Interest | (713) | (9,656) | (4,669) | (14,165) |
| Comprehensive (Loss) Income – attributed to 60 Degrees Pharmaceuticals, Inc. | (2,155,382) | 4,192,540 | (5,898,424) | (1,745,740) |
| Cumulative Dividends on Series A Preferred Stock | (116,571) | (101,538) | (352,333) | (101,538) |
| Net (Loss) Income - attributed to Common Shareholders | $(2,271,953) | $4,091,002 | $(6,250,757) | $(1,847,278) |
| Net (Loss) Income per Common Share: | ||||
| Basic and Diluted (1) | $(0.93) | $9.13 | $(4.35) | $(6.59) |
| Weighted average number of common shares outstanding | ||||
| Basic and Diluted (1) | 2,443,198 | 448,174 | 1,437,584 | 280,391 |
| (1) | Periods presented have been adjusted to reflect the 1:12 reverse stock split on August 12, 2024. |
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