1. Investment Snapshot
2. Thesis
3. Valuation & Price Target
4. Business & Product Moat
5. People & Governance
6. Market & Macro
7. Financial Quality
8. Risk Register
9. Prediction Market
10. 𝕏 Posts
Discussion
1. Investment Snapshot
2. Thesis
3. Valuation & Price Target
4. Business & Product Moat
5. People & Governance
6. Market & Macro
7. Financial Quality
8. Risk Register
9. Prediction Market
10. 𝕏 Posts
Discussion
1. Investment Snapshot
2. Metrics vs Peers
3. Price Chart
4. Valuation
5. Offer Terms
6. Financial Statements
Discussion
Research report, target price, DCF and forensic scores are for subscribers. View plans
Symbol
SXTP
Listed on
2023-07-12
Sector
Health Care
Subsector
Pharmaceuticals
Offer Price
$5.30
first filed $4.15–$6.15Shares Offered
1.42M
5.57M
$29.5M
25.4%
Implied Upside vs Midpoint
Description
We are a growth-oriented specialty pharmaceutical company with a goal of using cutting-edge biological science and applied research to further develop and commercialize new therapies for the prevention and treatment of infectious diseases. We have successfully achieved regulatory approval of Arakoda, a malaria preventative treatment that has been on the market since late 2019. Currently, 60P’s pipeline under development covers development programs for COVID-19, fungal, tick-borne, and other viral diseases utilizing three of the Company’s future products: (i) new products that contain the Arakoda regimen of Tafenoquine; (ii) new products that contain Tafenoquine; and (iii) Celgosivir. Our mission is to address the unmet medical need associated with infectious diseases, through the development and commercialization of new small molecule therapeutics, focusing on synthetic drugs (made by chemists in labs, excluding biologics) with good safety profiles based on prior clinical studies, in order to reduce cost, risk, and capitalize on existing research. We are seeking to expand Arakoda’s use for malaria prevention and to demonstrate clinical benefit for other disease indications. We are further testing the viability of another product (Celgosivir) to determine whether to advance it into further clinical development, and may seek to develop and license other molecules in the future. Celgosivir is being developed for COVID-19, RSV and Dengue. --- Our principal executive offices are located at 1025 Connecticut Avenue NW Suite 1000, Washington, D.C. 20036. Our corporate website address is www.60degreespharma.com. Our telephone number is (202) 327-5422.
| Metric | Value | Peer median | Among peers | Trend |
|---|---|---|---|---|
EV / revenue | >100x | >100x | ||
Gross margin | -93.7% | — | — | |
Operating margin | -784% | -136% | ||
Net margin | -2769% | -119% | ||
Free cash flow margin | -452% | — | — | |
Net cash / market cap | -9.3% | 0.7% | ||
Debt / equity | neg. equity | 0.00 | ||
Current ratio | 0.05 | 0.27 | ||
Stock comp / revenue | 0.0% | — | — | |
9 premium metrics: DCF value / price, Growth the price needs: how common, Last 12 months vs full year and 6 more Unlock | ||||
▲ Priced at $5.30, 3% above the midpoint of the first filed range ($4.15–$6.15, 2023-01-31).
Each filing is plotted ahead of the first trading day on the price chart.
| Filed | Form | Price range | Price | Shares offered | Deal size |
|---|---|---|---|---|---|
| 2023-01-31 | S-1 | $4.15–$6.15 | — | 1,912,202 | $9.8M |
| 2023-04-03 | S-1/A | $4.15–$6.15 | — | 1,925,202 | $9.9M |
| 2023-04-28 | S-1/A | $4.30–$6.30 | — | 1,856,580 | $9.8M |
| 2023-05-19 | S-1/A | $4.30–$6.30 | — | 2,224,765 | $11.8M |
| 2023-06-01 | S-1/A | $4.30–$6.30 | — | 2,224,763 | $11.8M |
| 2023-06-08 | S-1/A | — | $5.30 | 2,224,763 | $11.8M |
| 2023-07-13 | 424B4 | — | $5.30 | 1,415,095 | $7.5M |
60 DEGREES PHARMACEUTICALS, INC. income statement and balance sheet, FY Dec 2022 to FY Dec 2025, as reported in SEC filings.
| Metric | FY Dec 2022 | FY Dec 2023after listing | FY Dec 2024after listing | FY Dec 2025after listing |
|---|---|---|---|---|
| Revenue | $223K | $254K | $608K | $1.0M |
| Gross profit | ($209K) | ($221K) | $223K | $224K |
| Operating income | ($1.8M) | ($5.2M) | ($9.7M) | ($7.8M) |
| Net income | ($6.2M) | ($3.8M) | ($7.9M) | ($7.4M) |
| Revenue growth | — | 13.6% | 140% | 65.5% |
| Gross margin | −93.7% | −87.1% | 36.7% | 22.3% |
| Operating margin | −784% | −2033% | −1599% | −772% |
| Net margin | −2769% | −1485% | −1308% | −733% |
| Metric | FY Dec 2022 | FY Dec 2023after listing | FY Dec 2024after listing | FY Dec 2025after listing |
|---|---|---|---|---|
| Total assets | $1.3M | $7.8M | $5.8M | $5.4M |
| Total liabilities | $25.4M | $3.0M | $1.8M | $2.0M |
| Total equity | ($24.1M) | $4.8M | $4.0M | $3.4M |
| Cash & equivalents | $265K | $2.1M | $1.7M | $1.5M |