60 Degrees Pharmaceuticals Announces First Quarter 2025 Results
60 Degrees Pharmaceuticals (NASDAQ: SXTP) has reported its Q1 2025 financial results, showing mixed performance. The company's net product revenues increased 55% year-over-year to $163.6 thousand, primarily driven by domestic sales of ARAKODA®. Gross profit saw significant growth of 124%, reaching $90.3 thousand compared to $40.2 thousand in Q1 2024.
However, operating expenses rose to $2.09 million from $1.41 million in the previous year, with $535.4 thousand attributed to increased sales, investor-related services, and stock-based compensation. The company reported a net loss of $2.01 million ($1.56 per share) in Q1 2025, compared to a net income of $308.7 thousand ($1.83 per share) in Q1 2024, largely due to a $1.74 million change in fair value of derivative liabilities.
60 Degrees Pharmaceuticals (NASDAQ: SXTP) ha comunicato i risultati finanziari del primo trimestre 2025, mostrando una performance mista. I ricavi netti da prodotti sono aumentati del 55% su base annua, raggiungendo 163,6 mila dollari, principalmente grazie alle vendite nazionali di ARAKODA®. Il profitto lordo è cresciuto significativamente del 124%, arrivando a 90,3 mila dollari rispetto ai 40,2 mila del primo trimestre 2024.
Tuttavia, le spese operative sono aumentate a 2,09 milioni di dollari dai 1,41 milioni dell'anno precedente, con 535,4 mila dollari attribuiti all'incremento delle vendite, ai servizi per gli investitori e alla compensazione basata su azioni. La società ha registrato una perdita netta di 2,01 milioni di dollari (1,56 dollari per azione) nel primo trimestre 2025, rispetto a un utile netto di 308,7 mila dollari (1,83 dollari per azione) nel primo trimestre 2024, principalmente a causa di una variazione di 1,74 milioni di dollari nel valore equo delle passività derivate.
60 Degrees Pharmaceuticals (NASDAQ: SXTP) ha reportado sus resultados financieros del primer trimestre de 2025, mostrando un desempeño mixto. Los ingresos netos por productos aumentaron un 55% interanual hasta 163.6 mil dólares, impulsados principalmente por las ventas nacionales de ARAKODA®. La ganancia bruta creció significativamente un 124%, alcanzando 90.3 mil dólares frente a los 40.2 mil del primer trimestre de 2024.
Sin embargo, los gastos operativos aumentaron a 2.09 millones de dólares desde 1.41 millones el año anterior, con 535.4 mil dólares atribuidos al incremento en ventas, servicios relacionados con inversores y compensación basada en acciones. La compañía reportó una pérdida neta de 2.01 millones de dólares (1.56 dólares por acción) en el primer trimestre de 2025, en comparación con una ganancia neta de 308.7 mil dólares (1.83 dólares por acción) en el primer trimestre de 2024, debido principalmente a un cambio de 1.74 millones de dólares en el valor razonable de pasivos derivados.
60 Degrees Pharmaceuticals (NASDAQ: SXTP)는 2025년 1분기 재무 실적을 발표했으며, 성과는 엇갈렸습니다. 회사의 순제품 매출은 전년 동기 대비 55% 증가한 16만 3,600달러로, 주로 국내 ARAKODA® 판매에 힘입은 결과입니다. 총이익은 124% 크게 증가하여 2024년 1분기의 4만 200달러에서 9만 300달러에 달했습니다.
하지만 영업비용은 전년 141만 달러에서 209만 달러로 상승했으며, 이 중 53만 5,400달러는 판매 증가, 투자자 관련 서비스 및 주식 기반 보상에 기인합니다. 회사는 2025년 1분기에 201만 달러(주당 1.56달러)의 순손실을 기록했으며, 이는 2024년 1분기의 30만 8,700달러(주당 1.83달러) 순이익과 비교할 때, 파생부채 공정가치 변동 174만 달러가 주요 원인입니다.
60 Degrees Pharmaceuticals (NASDAQ : SXTP) a publié ses résultats financiers du premier trimestre 2025, affichant une performance mitigée. Les revenus nets des produits ont augmenté de 55 % en glissement annuel, atteignant 163,6 milliers de dollars, principalement grâce aux ventes nationales d'ARAKODA®. Le bénéfice brut a connu une croissance significative de 124 %, atteignant 90,3 milliers de dollars contre 40,2 milliers au premier trimestre 2024.
Cependant, les charges d'exploitation ont augmenté, passant de 1,41 million de dollars à 2,09 millions, dont 535,4 milliers attribués à l'augmentation des ventes, aux services liés aux investisseurs et à la rémunération en actions. La société a enregistré une perte nette de 2,01 millions de dollars (1,56 dollar par action) au premier trimestre 2025, contre un bénéfice net de 308,7 milliers de dollars (1,83 dollar par action) au premier trimestre 2024, principalement en raison d'une variation de 1,74 million de dollars de la juste valeur des passifs dérivés.
60 Degrees Pharmaceuticals (NASDAQ: SXTP) hat seine Finanzergebnisse für das erste Quartal 2025 veröffentlicht und zeigt eine gemischte Leistung. Die Nettoprodukterlöse stiegen im Jahresvergleich um 55% auf 163,6 Tausend US-Dollar, hauptsächlich getrieben durch Inlandsverkäufe von ARAKODA®. Der Bruttogewinn verzeichnete ein signifikantes Wachstum von 124% und erreichte 90,3 Tausend US-Dollar gegenüber 40,2 Tausend im ersten Quartal 2024.
Die Betriebsausgaben stiegen jedoch von 1,41 Millionen auf 2,09 Millionen US-Dollar, wobei 535,4 Tausend US-Dollar auf erhöhte Verkaufsaktivitäten, investorenbezogene Dienstleistungen und aktienbasierte Vergütungen zurückzuführen sind. Das Unternehmen meldete im ersten Quartal 2025 einen Nettoverlust von 2,01 Millionen US-Dollar (1,56 US-Dollar pro Aktie), verglichen mit einem Nettogewinn von 308,7 Tausend US-Dollar (1,83 US-Dollar pro Aktie) im ersten Quartal 2024, hauptsächlich aufgrund einer Veränderung des beizulegenden Zeitwerts derivativer Verbindlichkeiten in Höhe von 1,74 Millionen US-Dollar.
- Net product revenues grew 55% year-over-year to $163.6K
- Gross profit increased 124% to $90.3K
- Strong growth in domestic sales of ARAKODA®
- Operating expenses increased 48% to $2.09M
- Net loss of $2.01M compared to net income of $308.7K in Q1 2024
- Negative EPS of ($1.56) versus positive $1.83 in previous year
- 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.
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 and 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® or other regimen) 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 27, 2025, and our subsequent SEC filings. Investors and security holders are urged to read these documents free of charge on the SEC’s web site 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
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