60 Degrees Pharmaceuticals prices $5 million public offering

60 Degrees Pharmaceuticals Inc. (NASDAQ: SXTP) announced the pricing of a public offering of 2,631,578 shares of common stock and accompanying warrants at $1.90 per share. The pharmaceutical company focused on infectious disease treatments expects to raise approximately $5 million in gross proceeds before fees and expenses.

The offering includes Series A-1 warrants and short-term Series A-2 warrants, both exercisable at $1.90 per share. The Series A-1 warrants expire in five years, while the Series A-2 warrants expire in 18 months. If the short-term warrants are fully exercised, the company could receive an additional $5 million in proceeds.

H.C. Wainwright & Co. serves as the exclusive placement agent for the offering. The closing is expected to occur on July 16, 2025, subject to customary closing conditions.

The company plans to use net proceeds for working capital and general corporate purposes. The offering is being conducted under a registration statement on Form S-1 filed with the Securities and Exchange Commission on July 7, 2025, and declared effective on July 15, 2025.

60 Degrees Pharmaceuticals received FDA approval for its lead product ARAKODA (tafenoquine) for malaria prevention in 2018. The company, founded in 2010 and headquartered in Washington D.C., develops medicines for infectious diseases and maintains a majority-owned subsidiary in Australia.

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