Q1 2024 net product revenues increased 55% year-over-year to $163.6 thousand.
Gross profit increased 124% to $90.3 thousand.
WASHINGTON, May 15, 2025 (GLOBE NEWSWIRE) -- 60 Degrees Pharmaceuticals, Inc. (NASDAQ: SXTP; SXTPW) (the “Company”), a pharmaceutical company focused on developing new medicines for infectious diseases, reported today their financial results for the first fiscal quarter of the 2025 year, ended March 31, 2025.
Financial Highlights for the Quarter Ended March 31, 2025:
Net product revenues increased approximately 55% from $105.7 thousand for the first quarter of 2024 to approximately $163.6 thousand for the first quarter of 2025; the Company credits growth from domestic sales of ARAKODA®.
The Company achieved a gross profit of approximately $90.3 thousand in the first quarter of 2025, compared with an approximate gross profit of $40.2 thousand in the first quarter of 2024.
Operating expenses were approximately $2.09 million in the first quarter of 2025, compared with approximately $1.41 million in the first quarter of 2024. Increased expenditures in sales and investor-related services along with stock-based compensation accounted for $535.4 thousand of the increase.
Net loss attributable to common shareholders in the first quarter of 2025 was approximately $2.01 million, or ($1.56) per share, compared with a net income of approximately $308.7 thousand, or $1.83 per share in the first quarter of 2024. The change in fair value of derivative liabilities accounted for $1.74 million of this difference in income attributable.
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® (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.
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