60 Degrees Pharmaceuticals Reports Q1 2026 Financial Results with Increased Net Loss

60 Degrees Pharmaceuticals, Inc. reported its financial results for the first quarter of 2026, revealing a net loss of $2.09 million, or $1.28 per share, compared to a net loss of $1.88 million, or $6.25 per share, in the same period last year. The company's product revenues for the quarter were $162,092, a slight decrease from $163,552 in the prior year. The decline in revenue was attributed to returns associated with expiring product lots, despite the company maintaining a significant market presence with its malaria prevention product, Arakoda.

Total operating expenses increased to $2.17 million from $2.09 million year-over-year, driven primarily by higher general and administrative costs, which rose to $1.89 million from $1.72 million. Research and development expenses decreased to $281,464 from $370,813, reflecting the completion of certain funded activities. The company’s gross profit also fell to $76,377, down from $90,280, resulting in a gross margin of 47.12%, compared to 55.20% in the previous year.

In terms of operational metrics, 60 Degrees Pharmaceuticals reported a significant increase in its cash position, with cash and cash equivalents rising to $3.34 million as of March 31, 2026, up from $1.51 million at the end of 2025. The company utilized $2.74 million in cash for operating activities during the quarter, an increase from $1.60 million in the same period last year. The increase in cash outflows was primarily due to higher general and administrative expenses and vendor prepayments related to new production initiatives.

Strategically, the company has made notable advancements, including a partnership with Runway Health to enhance access to Arakoda for travelers and a collaboration with GoodRx to provide discounts on the product. Additionally, 60 Degrees Pharmaceuticals is negotiating an exclusive license with Florida State University for the extraction of a compound from Australian Chestnut, which could expand its product offerings. The company also submitted a New Dietary Ingredient Notification to the FDA for Australian Chestnut Extract, with a decision expected by May 25, 2026.

Looking ahead, 60 Degrees Pharmaceuticals faces challenges in achieving profitability and maintaining compliance with Nasdaq listing requirements. The company has expressed substantial doubt about its ability to continue as a going concern, emphasizing the need for additional capital to fund operations and support its product development initiatives. The management plans to explore various financing options, including equity raises and potential collaborations, to secure the necessary funds for future growth.