WASHINGTON, Feb. 20, 2025 (GLOBE NEWSWIRE) -- 60 Degrees Pharmaceuticals, Inc. (NASDAQ: SXTP; SXTPW) (the “Company”), a pharmaceutical company focused on developing new medicines for infectious diseases, announced today that it will effect a 1-for-5 reverse stock split (“Reverse Stock Split”) of its common stock, par value $0.

0001 per share (“Common Stock”). The Common Stock will continue to trade on The Nasdaq Capital Market under the existing symbol “SXTP” and will begin trading on a split-adjusted basis when the market opens on February 24, 2025. The new CUSIP number for the Common Stock following the Reverse Stock Split will be 83006G401.

The Reverse Stock Split is primarily intended to bring the Company into compliance with The Nasdaq Stock Market LLC’s (“Nasdaq”) $1.00 minimum bid price requirement for maintaining its Nasdaq listing. There is no guarantee the Company will meet the minimum bid price requirement.

On November 6, 2024, the Company’s stockholders approved a proposal to authorize a reverse stock split of the Common Stock at a ratio within the range of 1-for-3 and 1-for-5 with the authority delegated to the Board of the Directors of the Company to determine the exact reverse split ratio and when to file the Certificate of Amendment with the Secretary of State of the State of Delaware. On February 10, 2025, the Company’s Board of Directors approved a 1-for-5 reverse split ratio and on February 18, 2025, the Company filed a Certificate .