11:10 AM EST, 02/20/2025 (MT Newswires) -- 60 Degrees Pharmaceuticals ( SXTP ) on Thursday announced a 1-for-5 reverse stock split of its common stock, effective Monday.

The stock will continue to trade under the symbol "SXTP" on the Nasdaq Capital Market, the company said.

This reverse stock split is intended to help the company meet Nasdaq's $1 minimum bid price requirement for maintaining its listing. However, there's no guarantee the company will meet this requirement, it said.

Shares of 60 Degrees Pharmaceuticals ( SXTP ) fell past 11% in recent trading.

Price: 0.47, Change: -0.06, Percent Change: -11.37