-- FY 2025 net product revenues increased 65% to $1,005,000
-- Current shelf capacity exhausted after raise of $4 million through an ATM
facility
WASHINGTON, March 31, 2026 (GLOBE NEWSWIRE) -- 60 Degrees Pharmaceuticals, Inc. (NASDAQ: SXTP; SXTPW) (the "Company"), a pharmaceutical company focused on developing new medicines for vector-borne disease, reported today its financial results for the 2025 fiscal year ended December 31, 2025.
Financial Highlights for the Fiscal Year Ended December 31, 2025:
-- Net product revenues increased 65% from $607.6 thousand in 2024 to $1.0
million in 2025, driven by rising sales, price increases, and fewer
returns.
-- The Company achieved a gross profit of approximately $223.8 thousand in
2025, compared with approximately $222.8 thousand in 2024. Gross profit
remained relatively stable despite inventory write-offs associated with a
final batch of short-dated product entering the supply chain. This charge
was a necessary, non-recurring cost incurred as part of scaling
operations.
-- Operating expenses were approximately $8.4 million in 2025, compared with
approximately $10.0 million in 2024. The decrease in Research and
Development costs of $2.9 million was due to 2024 including $3.2 million
of non-cash and non-recurring charges. The increase in general and
administrative expenses of $1.3 million was driven primarily by $967.6
thousand in additional sales advisory, advertising and promotion
expenses.
-- Net loss attributable to common shareholders in 2025 was approximately
$7.37 million, or $11.73 per share, compared with a net loss of
approximately $7.96 million, or $74.17 per share, in 2024 -- an
improvement of approximately $590 thousand. This improvement was driven
primarily by the absence of non-recurring, non-cash Research and
Development charges that burdened fiscal year 2024, partially offset by
higher selling expenses in fiscal year 2025 and a $1.4 million reduction
in the favorable Change in Fair Value of Derivative Liabilities.
Recent Business Highlights:
-- As of March 30, 2026, the Company had 2,636,788 shares outstanding. In
the 12 months through March 27, 2026 the Company had offered and sold
approximately $4,026,722 in common shares using its At-the-Market
facility, exhausting current baby shelf capacity.
-- In March 2026, the Company announced that all patients enrolled in its
expanded access study for relapsing babesiosis were cured after
tafenoquine-based treatment and called for treatment guidelines to be
reviewed in light of the new data. The Company believes that the next
clinical data release, the interim analysis of its randomized hospital
study, could occur as early as late September if recruitment patterns of
the 2026 tick season mirror those of the 2025 season.
-- In February 2026, the Company partnered with GoodRx to provide eligible
consumers savings of up to 30% on ARAKODA$(R)$, expanding sales footprint
to more than 70,000 pharmacies nationwide.
-- In January 2026, the Company partnered with Runway Health to expand sales
of ARAKODA(R) for malaria prevention through a travel-focused telehealth
platform.
-- In January 2026, the Company exercised its Florida State University
license option for large-scale purification of castanospermine and
signaled readiness to commence the regulatory process for Australian
Chestnut Extract as a non-prescription botanical product.
-- In November 2025, the central study site at Mount Sinai opened for
patient enrollment in the Phase 2 B-FREE Chronic Babesiosis Study, which
is designed to run about 12 months and enroll up to 100 patients.
-- In July 2025, the Company entered into a sponsored research agreement
with Tulane University to evaluate tafenoquine activity against Borrelia
(Lyme) and Bartonella bacteria.
-- In April 2025, the Company announced a patent license agreement with Yale
School of Medicine and Yale School of Public Health to jointly advance
the development and commercialization of tafenoquine for babesiosis
treatment and prevention.
About 60 Degrees Pharmaceuticals, Inc.
60 Degrees Pharmaceuticals, Inc., founded in 2010, specializes in developing and marketing new medicines for the treatment and prevention of infectious diseases that affect the lives of millions of people. 60 Degrees Pharmaceuticals, Inc. achieved FDA approval of its lead product, ARAKODA(R) (tafenoquine), for malaria prevention in 2018. 60 Degrees Pharmaceuticals, Inc. also collaborates with prominent research organizations in the U.S., Australia, and Singapore. The 60 Degrees Pharmaceuticals, Inc. mission has been supported through in-kind funding from the U.S. Department of Defense and private institutional investors, including Knight Therapeutics Inc., a Canadian-based pan-American specialty pharmaceutical company. 60 Degrees Pharmaceuticals, Inc. is headquartered in Washington, D.C., with a majority-owned subsidiary in Australia. Learn more at www.60degreespharma.com.
Cautionary Note Regarding Forward-Looking Statements
This press release may contain "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward--looking statements reflect the current view about future events. When used in this press release, the words "anticipate," "believe," "estimate," "expect," "future," "intend," "plan," or the negative of these terms and similar expressions, as they relate to us or our management, identify forward--looking statements. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy, activities of regulators, future regulations, and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: there is substantial doubt as to our ability to continue on a going-concern basis; we might not be eligible for Australian government research and development tax rebates; if we are not able to successfully develop, obtain FDA approval for, and provide for the commercialization of non-malaria prevention indications for tafenoquine (ARAKODA(R) or other regimen), Australian Chestnut Extract or Celgosivir in a timely manner, we may not be able to expand our business operations; we may not be able to successfully conduct planned clinical trials; and we have no manufacturing capacity which puts us at risk of lengthy and costly delays of bringing our products to market. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company's filings with the Securities and Exchange Commission ("SEC"), including the information contained in our Annual Report on Form 10-K filed with the SEC on March 30, 2026, and our subsequent SEC filings. Investors and security holders are urged to read these documents free of charge on the SEC's website at www.sec.gov. As a result of these matters, changes in facts, assumptions not being realized, or other circumstances, the Company's actual results may differ materially from the expected results discussed in the forward-looking statements contained in this press release. Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
Media Contact:
Sheila A. Burke
SheilaBurke-consultant@60degreespharma.com
(484) 667-6330
Investor Contact:
Patrick Gaynes
patrickgaynes@60degreespharma.com
(310) 989-5666
(END) Dow Jones Newswires
March 31, 2026 07:01 ET (11:01 GMT)
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