Summary by Futu AI
On February 27, 2024, 60 Degrees Pharmaceuticals, Inc. received notification from Nasdaq Listing Qualifications Staff that the company's common stock had not met the minimum closing bid price of $1.00 per share over a 31 consecutive business day period from January 11, 2024, to February 27, 2024. This failure to comply with the Bid Price Rule puts the company at risk of being delisted from The Nasdaq Capital Market. The company has been granted an initial 180-day compliance period, ending on August 26, 2024, to rectify the bid price deficiency. If compliance is not achieved by this deadline, 60 Degrees Pharmaceuticals may be eligible for an additional 180-day period, provided it meets certain conditions, including a potential reverse stock split. The company's common stock and warrants will continue to trade on The Nasdaq under the symbols 'SXTP' and 'SXTPW' while it evaluates options to regain compliance. There is no certainty that the company will be able to meet the Nasdaq's continued listing requirements in the future.