60 DEGREES PHARMACEUTICALS, INC. 8-K

What Happened

• On January 20, 2026 (reported in an 8-K filed January 23, 2026), 60 Degrees Pharmaceuticals, Inc. announced that Nasdaq staff determined to delist its common stock and warrants from The Nasdaq Capital Market. Nasdaq found the company’s common stock failed to maintain a minimum $1.00 bid for 30 consecutive business days, a violation of Nasdaq Listing Rule 5550(a)(2).
• Nasdaq concluded the company is not eligible for the usual 180-calendar-day compliance period because the company completed a 1-for-5 reverse stock split on February 24, 2025, and is therefore subject to immediate delisting under Nasdaq Listing Rule 5810(c)(3)(A)(iv). The company paid a $20,000 hearing fee and requested an appeal to the Nasdaq Hearings Panel, which stays trading suspension and Form 25-NSE filing while the appeal is pending.

Key Details

• Date of Nasdaq determination: January 20, 2026; 8-K filed January 23, 2026.
• Reason: failure to maintain $1.00 minimum bid for 30 consecutive business days (Nasdaq Rule 5550(a)(2)).
• Reverse split: 1-for-5 reverse stock split on February 24, 2025 made the company ineligible for a compliance period (Nasdaq Rule 5810(c)(3)(A)(iv)).
• Company action: paid $20,000 hearing fee and requested an appeal; warrants are subject to delisting if the common stock is delisted (Nasdaq Rule 5560(a)).

Why It Matters

• If Nasdaq ultimately delists the stock and warrants, trading could move off Nasdaq (often to OTC markets), which typically reduces liquidity, may widen bid-ask spreads, and can limit investor access.
• The company’s appeal currently stays any suspension of trading and the formal delisting filing while the Nasdaq Hearings Panel reviews the case, but there is no guarantee the Panel will keep the securities listed.
• Investors should monitor the outcome of the Nasdaq appeal and company updates, as a final delisting decision could materially affect trading, visibility, and liquidity for shareholders and warrant holders.