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Consolidated Condensed Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Product and Service Revenues, net $ 124,972 $ 59,532 $ 241,435 $ 76,704
Cost of Revenues 89,564 183,977 155,001 257,097
Gross Profit (Loss) 35,408 (124,445) 86,434 (180,393)
Research Revenues 728 3,116 30,359 7,408
Net Revenue (Loss) 36,136 (121,329) 116,793 (172,985)
Operating Expenses:        
Research and Development 3,095,326 203,872 3,432,508 327,866
General and Administrative Expenses 1,129,560 462,795 2,204,694 1,237,809
Total Operating Expenses 4,224,886 666,667 5,637,202 1,565,675
Loss from Operations (4,188,750) (787,996) (5,520,409) (1,738,660)
Interest Expense (3,621) (1,099,656) (5,023) (2,241,085)
Derivative Expense (399,725) (399,725)
Change in Fair Value of Derivative Liabilities (1,101) 7,968 1,739,746 2,834
Loss on Debt Extinguishment (839,887)
Change in Fair Value of Promissory Note (1,064,849) (725,797)
Other Income, net 19,684 730 39,946 1,321
Total Interest and Other Income (Expense), net 14,962 (2,555,532) 1,774,669 (4,202,339)
Loss from Operations before Provision for Income Taxes (4,173,788) (3,343,528) (3,745,740) (5,940,999)
Provision for Income Taxes (Note 9) 438 63 501 126
Net Loss including Noncontrolling Interest (4,174,226) (3,343,591) (3,746,241) (5,941,125)
Net Loss – Noncontrolling Interest (1,471) (7,036) (3,956) (4,509)
Net Loss – attributed to 60 Degrees Pharmaceuticals, Inc. (4,172,755) (3,336,555) (3,742,285) (5,936,616)
Comprehensive Loss:        
Net Loss (4,174,226) (3,343,591) (3,746,241) (5,941,125)
Unrealized Foreign Currency Translation Gain (Loss) 3,137 (374) (757) (1,664)
Total Comprehensive Loss (4,171,089) (3,343,965) (3,746,998) (5,942,789)
Net Loss – Noncontrolling Interest (1,471) (7,036) (3,956) (4,509)
Comprehensive Loss – attributed to 60 Degrees Pharmaceuticals, Inc. (4,169,618) (3,336,929) (3,743,042) (5,938,280)
Cumulative Dividends on Series A Preferred Stock (117,881) (235,762)
Net Loss - attributed to Common Shareholders $ (4,287,499) $ (3,336,929) $ (3,978,804) $ (5,938,280)
Net Loss per Common Share:        
Basic (in Dollars per share) [1] $ (4.23) $ (16.84) $ (4.28) $ (30.44)
Weighted average number of common shares outstanding        
Basic (in Shares) [1] 1,014,779 198,170 929,252 195,109
Product Revenues – net of Discounts and Rebates        
Product and Service Revenues, net $ 124,972 $ 59,532 $ 230,646 $ 76,704
Service Revenues        
Product and Service Revenues, net $ 10,789
[1] Periods presented have been adjusted to reflect the 1:12 reverse stock split on August 12, 2024. See Note 12 - Subsequent Events for more information.