Image source: Shutterstock

Highlights:

  • Net product revenue rose 55% year-over-year to $163.6K, driven by U.S. ARAKODA  sales.
  • Gross profit more than doubled to $90.3K in Q1 2025, up from $40.2K in Q1 2024.
  • Net loss of $2.01M attributed largely to a $1.74M change in derivative liabilities.

60 Degrees Pharmaceuticals, Inc. (NASDAQ: SXTP; SXTPW), a company specializing in the development and commercialization of medicines targeting infectious diseases, announced its financial results for the first quarter ended March 31, 2025. The results highlighted continued revenue growth and product traction, particularly in the U.S. market for its malaria prevention drug, ARAKODA.

For the first quarter of 2025, 60 Degrees Pharmaceuticals posted net product revenues of approximately $163.6 thousand, representing a 55% increase from $105.7 thousand during the same period in 2024. This performance was primarily driven by increased domestic sales of ARAKODA, the company’s FDA-approved tafenoquine-based antimalarial.

Gross profit for the quarter also saw substantial growth, reaching approximately $90.3 thousand a 124% increase from the $40.2 thousand recorded in Q1 2024. The improvement in profitability reflects stronger sales volume and better cost efficiencies associated with ARAKODA production and distribution.

However, operating expenses rose significantly, totaling approximately $2.09 million in Q1 2025, up from $1.41 million in Q1 2024. The company attributed the $681,000 increase to elevated spending on sales initiatives, investor-related services, and stock-based compensation. Of this increase, $535.4 thousand was directly linked to these targeted efforts to support future growth and visibility in the capital markets.

Despite the revenue and gross profit gains, 60 Degrees Pharmaceuticals reported a net loss attributable to common shareholders of approximately $2.01 million, or ($1.56) per share, compared to a net income of approximately $308.7 thousand, or $1.83 per share, in the same period last year. The shift into a net loss was largely due to a $1.74 million change in the fair value of derivative liabilities, a non-cash accounting impact that significantly influenced the bottom line. The company maintains strong collaborative ties with top-tier research institutions across the U.S., Australia, and Singapore, which it considers a strategic asset in its pursuit of innovation and global market expansion.