--- title: "60 Degrees Pharmaceuticals prices $5 million offering" url: "https://aibio.space/news/60-degrees-pharmaceuticals-prices-5-million-offering-warrants-5/" publisher: "aibio.space (Biotech Investor Relations News)" date: "2025-07-18" section: "Financings" tickers: "NASDAQ:SXTP" source: "https://www.sec.gov/Archives/edgar/data/1946563/000121390025065718/ea024943801ex99-1_60degrees.htm" summary: "60 Degrees Pharmaceuticals priced 2,631,578 shares at $1.90 with warrants. About $5 million comes in up front, and the short-term warrants could bring in a" --- By the aibio.space news desk. Sources - [60 Degrees Pharmaceuticals, Inc. 8-K (2025-07-18)](https://www.sec.gov/Archives/edgar/data/1946563/000121390025065718/ea024943801ex99-1_60degrees.htm) - [60 Degrees Pharmaceuticals, Inc. 10-K (2025-03-27): business](https://www.sec.gov/Archives/edgar/data/1946563/000101376225003343/ea0232429-10k_60degrees.htm) [SXTP](https://aibio.space/companies/60-degrees-pharmaceuticals/) 2025-07-18 # 60 Degrees Pharmaceuticals prices $5 million offering, with warrants for $5 million more Tickers [SXTP](https://aibio.space/companies/60-degrees-pharmaceuticals/) 60 Degrees Pharmaceuticals priced 2,631,578 shares at $1.90 with warrants. About $5 million comes in up front, and the short-term warrants could bring in about $5 million more only if fully exercised for cash. ## Key facts - **Company**: 60 Degrees Pharmaceuticals, Inc. (NASDAQ: SXTP) - **News type**: Financings - **Primary source**: [60 Degrees Pharmaceuticals, Inc. 8-K (2025-07-18)](https://www.sec.gov/Archives/edgar/data/1946563/000121390025065718/ea024943801ex99-1_60degrees.htm) *A city skyline in morning haze. CC0, via rawpixel. The picture shows the field, not the companies named.* ## The pricing 60 Degrees Pharmaceuticals, Inc. (Nasdaq: [SXTP](https://aibio.space/companies/60-degrees-pharmaceuticals/)) announced on July 15, 2025 the pricing of a public offering of 2,631,578 shares of common stock, or pre-funded warrants in their place, at a combined offering price of $1.90 per share with accompanying warrants. The company expects gross proceeds of approximately $5 million, before deducting the placement agent's fees and other offering expenses payable by the company. It says it intends to use the net proceeds for working capital and general corporate purposes. The release gives the expected closing as on or about July 16, 2025, subject to customary closing conditions. H.C. Wainwright & Co. is acting as the exclusive placement agent. The release names no legal counsel for the company or the placement agent and does not state the placement agent's fee. The securities are offered under a registration statement on Form S-1 (File No. 333-288550), first filed with the Securities and Exchange Commission on July 7, 2025 and declared effective on July 15, 2025. ## The two warrants Each unit comes with two sets of warrants. The Series A-1 warrants cover up to 2,631,578 shares at an exercise price of $1.90 per share, are exercisable upon issuance and expire five years thereafter. The short-term Series A-2 warrants also cover up to 2,631,578 shares at $1.90 per share, are exercisable upon issuance and expire 18 months thereafter. The headline figure of $10 million depends on the Series A-2 warrants. The company says that if they are fully exercised on a cash basis they would bring in approximately $5 million more, and it adds that no assurance can be given that any of them will be exercised. The money the company can count on is the roughly $5 million of gross proceeds at pricing, before fees and expenses. ## The company and its finances 60 Degrees Pharmaceuticals was founded in 2010 and says it develops and markets new medicines for infectious diseases. Its lead product, ARAKODA (tafenoquine), won FDA approval for malaria prevention in 2018. The company says it collaborates with research organizations in the United States, Australia and Singapore, and that its mission has been supported by in-kind funding from the U.S. Department of Defense and by private institutional investors including Knight Therapeutics Inc. The release lists risk factors, and the first is that there is substantial doubt as to the company's ability to continue on a going-concern basis. Others include possible ineligibility for Australian government research and development tax rebates, the risk that it cannot win FDA approval for non-malaria indications for tafenoquine or for Celgosivir, and the fact that it has no manufacturing capacity, which it says risks lengthy and costly delays. The annual report on Form 10-K, filed March 27, 2025, shows the scale of the need. For 2024 the company recorded a net loss of $7,955,663, against a net loss of $3,813,800 in 2023. It used $5,648,088 in operations in 2024 and ended the year with cash and cash equivalents of $1,659,353. Total shareholders' equity was $3,955,006 at December 31, 2024, down from $4,798,096 a year earlier. Funding in 2024 came largely from selling securities. The company reports net proceeds of $1,898,296 from a January 2024 offering, $1,729,810 from its at-the-market offering and $3,414,502 from warrants issued in a private placement, with net cash provided by financing activities of $7,053,571. The 10-K also records a 1:12 reverse stock split on August 12, 2024 and a 1:5 reverse stock split on February 24, 2025. ## What the release leaves out The release is a pricing notice. It does not give the company's cash balance at the time of the offering or the number of shares outstanding after it, and it does not say whether the company has a plan if the Series A-2 warrants go unexercised. The final prospectus, which the release says can be obtained from H.C. Wainwright & Co., LLC, carries the full terms. The release is dated July 15, 2025 and describes the closing as expected, so it does not confirm that the offering closed. [Report an error](https://aibio.space/reputation/#correction) ## Companies in this story SXTP 60 Degrees Pharmaceuticals, Inc. NASDAQ ยท United States Open the starter desk ## More in Financings Financings ### [INmune Bio raises $4.50 million in registered direct offering with warrants](https://aibio.space/news/inmune-bio-raises-4-50-million-registered-direct-offering-warrants/) Oct 29, 2026 Financings ### [Lexeo Therapeutics files $300 million shelf registration](https://aibio.space/news/lexeo-therapeutics-files-300-million-shelf-registration/) Oct 29, 2026 Financings ### [ProKidney files $650 million shelf with $200 million Jefferies sales program](https://aibio.space/news/prokidney-files-650-million-shelf-200-million-jefferies-sales-program/) Oct 29, 2026 --- Source page: https://aibio.space/news/60-degrees-pharmaceuticals-prices-5-million-offering-warrants-5/. Facts in aibio.space stories are checked against company filings and releases; opinion is labelled. Cite as: aibio.space, "60 Degrees Pharmaceuticals prices $5 million offering", 2025-07-18, https://aibio.space/news/60-degrees-pharmaceuticals-prices-5-million-offering-warrants-5/