60 Degrees Pharma taps market for $1M in quick private placement re-raise

What's the deal? 60 Degrees Pharmaceuticals, a Washington-based developer of medicines for vector-borne disease, has raised roughly $1.0 million through a private placement priced at-the-market under Nasdaq rules. The Nasdaq-listed company (SXTP) expects the offering to close on or about July 31, 2026.

The terms: 60 Degrees is selling 574,713 shares of common stock — or pre-funded warrants in lieu — at $1.74 apiece, along with series A and short-term series B warrants. Each warrant carries an exercise price of $1.49 and becomes exercisable on issuance.

Who's involved? H.C. WainwrightDealroom has a profile for this one. Try Dealroom → & Co. is acting as the exclusive placement agent. The gross figure of about $1.0 million comes before fees and expenses, and excludes any proceeds from the exercise of the warrants.

What's the money for? The company intends to use the net proceeds for working capital and general corporate purposes.

Why now? The raise arrives as a quick re-raise, with 60 Degrees returning to the market to shore up its balance sheet. The series A warrants expire five years from the effective date of the planned resale registration statement; the series B warrants expire in 24 months.

The signal: Small at-the-market private placements are a familiar lifeline for micro-cap biotechs that need working capital without committing to a larger, more dilutive raise. For 60 Degrees, the modest $1.0 million round buys runway to keep developing its vector-borne disease pipeline.

Read more: wallstreet-online.de

Image credit: fairfaxcounty