60 Degree Pharmaceuticals, Inc. (SXTP) is preparing to consolidate its shares in a one-for-four (1:4) reverse stock split, a step aimed at regaining compliance with Nasdaq's minimum bid price requirement and stabilizing its capital-market position.
The company said the reverse split will become effective on January 20, 2026, at 12:01 a.m. Eastern Time, after which its common stock will begin trading on a post-split basis under the existing ticker symbol SXTP.
The move follows shareholder approval at a special meeting in October 2025 and subsequent authorization by the board in December.
The reverse split will reduce the number of outstanding common shares from roughly 5.15 million to about 1.29 million, with no change to the stock's par value or the company's authorized share count. All outstanding equity awards, warrants and similar securities will be adjusted proportionally to reflect the new share structure.
The company emphasized that the action would affect all shareholders uniformly and will not alter their percentage ownership, aside from minor adjustments due to rounding. Fractional shares will not be issued; instead, any fractional positions will be rounded up to the nearest whole share.
60 Degree Pharmaceuticals said the move is intended to support continued listing on the Nasdaq Capital Market as it advances its portfolio of vector-borne disease programs, including its FDA-approved malaria prevention therapy, ARAKODA.
SXTP has traded between $0.34 and $6 over the past year. The stock closed yesterday's trading at $0.46, down 2.39%.
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