Summary by Futu AI
60 Degrees Pharmaceuticals, trading under the symbol SXTP on The Nasdaq Capital Market, has filed a prospectus supplement on July 24, 2024, to increase the maximum aggregate gross sales price of shares offered under its Sales Agreement with WallachBeth Capital LLC to $1,890,705. This move, referred to as the ATM Offering Size Increase, amends previous registrations of common stock worth $1,253,603 and $1,774,640. As of the filing date, 60 Degrees Pharmaceuticals has sold 4,964,249 shares for a gross sales price of $0.2811 per share. The company's outstanding common stock held by non-affiliates is valued at approximately $5,672,117, based on a share price of $0.351 as of June 7, 2024. The company adheres to the SEC's General Instruction I.B.6 of Form S-3, which limits the sale of securities in a public primary offering to no more than one-third of the public float in a 12-month period, provided the public float is below $75 million. The prospectus supplement also highlights significant investment risks, as detailed in the Risk Factors sections of the accompanying documents and filings with the SEC.