60 Degrees Pharmaceuticals Inc. (SXTP) reported a Q3 loss of $0.93 per share, missing the consensus estimate of a $0.60 loss, and revenues of $0.04 million, falling short of expectations by 60%. The stock has plummeted 92% this year, with a Zacks Rank #3 indicating it may perform in line with the market moving forward.
60 Degrees Pharmaceuticals reported a 140% increase in ARAKODA® pharmacy deliveries, generating approximately $135,000 in sales for Q3 2024. Despite achieving a gross profit of $24,000, the company faced a net loss of $2.27 million, largely due to changes in liability valuations. Key developments included granting the University of Kentucky rights for FDA review and securing a contract with the U.S. Army for commercial validation of ARAKODA® packaging.
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