Summary by Moomoo AI
60 Degrees Pharmaceuticals reported FY2024 net product revenues of $607,574, up 140% YoY, driven by organic growth in prescribing for babesiosis treatment. Gross margin improved to 36.7% from -87.2% in 2023. The company ended the year with $1.66 million in cash and cash equivalents.The company advanced its babesiosis clinical programs in 2024, including initiating a Phase II trial evaluating tafenoquine for hospitalized patients and an expanded access study for chronic babesiosis. Research and development expenses increased to $4.99 million from $692,000 in 2023, primarily due to babesiosis trial costs and recognition of share-based payments to research partners.Looking ahead, 60P launched a commercial pilot program in March 2025 to increase Arakoda awareness and drive adoption. The company raised approximately $7.1 million in 2024 through equity offerings to fund operations. Management estimates current cash runway through August 2025, though additional capital may be needed to support ongoing clinical trials and commercialization efforts.
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