60 Degrees Pharmaceuticals Reports Q2 2025 Financial Results with Significant Revenue Growth

60 Degrees Pharmaceuticals, Inc. reported its financial results for the second quarter of 2025, revealing a net revenue of $257,820, a significant increase from $36,136 in the same period last year. The company attributed this growth to a substantial rise in research revenues, which reached $206,939 compared to just $728 in the prior year. Product revenues, however, declined to $100,932 from $124,972, primarily due to a shortage of its Arakoda product in the U.S. market. The gross profit for the quarter was $50,881, reflecting a gross margin of 50.41%, up from 28.33% in the previous year, driven by lower costs associated with product sales.

In terms of operating expenses, 60 Degrees Pharmaceuticals reported a total of $1,862,648 for the quarter, down from $4,224,886 in the same period last year. This decrease was largely due to a significant reduction in research and development costs, which fell to $249,884 from $3,095,326, as the previous year included a non-cash charge related to stock issued for research services. General and administrative expenses increased to $1,612,764, up from $1,129,560, reflecting higher costs associated with sales and marketing efforts.

The company’s total assets decreased to $4,181,938 as of June 30, 2025, down from $5,759,345 at the end of 2024. This decline was primarily due to a reduction in accounts receivable and prepaid assets. Total liabilities increased slightly to $1,836,234 from $1,804,339, with derivative liabilities rising to $776,172 from $640,830, reflecting changes in the fair value of contingent payments related to the company's agreements.

Looking ahead, 60 Degrees Pharmaceuticals expressed concerns regarding its ability to continue as a going concern, citing accumulated losses and the need for additional capital to fund operations. The company plans to raise funds through various means, including debt and equity financing, but acknowledged the uncertainty surrounding its ability to secure such funding on favorable terms. The management indicated that the net proceeds from a recent public offering in July 2025, amounting to approximately $4.46 million, would provide sufficient liquidity to support operations through March 2026, assuming no further capital raises are necessary.