60 Degrees Pharmaceuticals Reports Q2 2026 Financial Results with Increased Product Revenues but Net Loss

60 Degrees Pharmaceuticals, Inc. reported its financial results for the second quarter of 2026, revealing a net loss of $2.3 million, compared to a loss of $1.7 million in the same period last year. The company's product revenues for the quarter reached $207,898, a significant increase of 106% from $100,932 in the prior year. For the first half of 2026, total revenues were $133,175, down from $440,831 in the same period of 2025, primarily due to the absence of research revenues that had previously contributed to the total.

The company's operating expenses increased to $2.3 million for the second quarter, up from $1.9 million in the same quarter of 2025. This rise was driven by higher research and development costs, which surged to $598,653 from $231,912, reflecting increased activity in clinical trials. General and administrative expenses also rose slightly, totaling $1.7 million compared to $1.6 million in the previous year. The overall gross profit for the quarter was $56,798, with a gross margin of 27.3%, down from 50.4% in the prior year, attributed to higher costs associated with new product lots and inventory management.

In terms of operational metrics, the company reported that its third-party logistics partner accounted for 92% of total net product sales, a significant increase from 21% in the previous year. The company also noted that it had successfully expanded its distribution channels, including a partnership with Runway Health to enhance access to its malaria prevention product, Arakoda. However, the company faced challenges, including a letter from the FDA objecting to the marketing of Australian Chestnut Extract as a dietary supplement.

As of June 30, 2026, 60 Degrees Pharmaceuticals had cash and cash equivalents of $1.0 million, down from $1.5 million at the end of 2025. The company reported net cash used in operating activities of $4.97 million for the first half of 2026, compared to $3.05 million in the same period of 2025. The company anticipates that it will need to raise additional capital to fund its operations and achieve profitability, as it has not yet generated sufficient revenue to cover its operating expenses. The management expressed concerns about the company's ability to continue as a going concern, highlighting the need for further financing to support its business strategy.