60 Degrees Pharmaceuticals, Inc. (NASDAQ:SXTP, SXTPW))))) (“60P” or the “Company”), a pharmaceutical company focused on developing new medicines for infectious diseases, announced today that on January 10, 2024 it received written notice from the Nasdaq Listing Qualifications Staff of the Nasdaq Stock Market LLC (“Nasdaq”) stating the Company has regained compliance with the minimum bid price requirement (the “Minimum Bid Price Requirement”), as set forth in Nasdaq Listing Rule 5550(a)(2) for continued listing on The Nasdaq Capital Market.
The Company had been notified by Nasdaq on November 2, 2023 that it was not in compliance with the Minimum Bid Price Requirement because its common stock had failed to maintain a minimum bid price of $1.00 for 30 consecutive business days. In order to regain compliance with the Minimum Bid Price Requirement, the Company was required to maintain a minimum closing bid price of $1.00 or more for at least 10 consecutive trading days, which was achieved during the period between December 26, 2023 and January 9, 2024. The Company’s closing bid price was $1.09 on January 9, 2024.
