By Stephen Nakrosis
60 Degrees Pharmaceuticals on Thursday said it was expecting its previously announced initial public offering would price at $5.30 per unit.
The IPO will consist of 1,415,095 units, consisting on one share of common stock, along with one warrant to purchase a share of common stock and one non-tradeable warrant.
60 Degrees said it is working to develop and commercialize new therapies to prevent and treat infectious diseases. Its pipeline currently includes development programs for Covid-19, as well as for fungal, tick-borne and other viral diseases.
The company said it achieved regulatory approval of Arakoda, “a malaria preventative treatment that has been on the market since late 2019.”
The company said it had product revenues of $17,172 for the three months ended March 31, 2023, and $47,024 for the three months ended March 31, 2022.
Kentucky Technology, Florida State University Research Foundation, Douglas Loock, Trevally, LLC and Knight Therapeutics International S.A. are listed among the company’s principal stockholders.
The company applied to list its common stock and tradeable warrants on the Nasdaq Capital Market.
WallachBeth Capital LLC is listed as the offering’s sole book-running manager.
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
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