0001554855-26-000467 | 10-K | XBRL Viewer | 60 Degrees Pharmaceuticals INC

DERIVATIVE LIABILITIES

12 Months Ended

Dec. 31, 2025

8. DERIVATIVE LIABILITIES

In accordance with the provisions of ASC 815, derivative liabilities are initially measured at fair value at the commitment date and subsequently remeasured at each reporting period, with any increase or decrease in the fair value recorded in the results of operations within other income (expense), net as the change in fair value of derivative liabilities.

As of December 31, 2025 and 2024, derivative liabilities consist of the contingent milestone payment due to Knight Therapeutics, Inc. (“Knight”), a former lender of the Company, as required by the Debt Conversion Agreement executed between the Company and Knight on January 9, 2023, as subsequently amended (the “Knight Debt Conversion Agreement”). Key points of this agreement were as follows:

 The Parties agreed to fix Knight’s cumulative debt to the value as it stood on March 31, 2022, which consisted of principal and accumulated interest. As a result of the completion of the IPO, the cumulative outstanding principal as of March 31, 2022 converted into 4,619 shares of common stock (representing 19.9% ownership of the Company’s common stock after giving effect to the IPO), and the entirety of the accumulated interest as of March 31, 2022 converted into 80,965 shares of Series A Preferred Stock, in full satisfaction of the Company’s obligations with respect to the outstanding principal and accumulated interest.

 The Parties agreed that the Company will make a milestone payment of $10 million to Knight if, after the IPO, the Company sells Arakoda™ or if a Change of Control (as per the definition included in the original loan agreement dated on December 10, 2015) occurs, provided that the purchaser of Arakoda™ or individual or entity gaining control of the Borrower is not the Lender or an affiliate of the Lender.

 For the period ending upon the earlier of (i) 10 years after the closing of the IPO, or (ii) the conversion or redemption in full of the Series A Preferred Stock, the Company will pay to Knight a royalty equal to 3.5% of the Company’s net sales (the “Royalty”) on a quarterly basis, where “Net Sales” has the same meaning as in the Company’s license agreement with the U.S. Army for tafenoquine.

Upon consummation of the IPO, the Company concluded that the contingent milestone payment is a freestanding financial instrument that meets the definition of a derivative under ASC 815, and accordingly, the fair value of the derivative liability is marked to market each reporting period until settled. The Royalty due to Knight was determined to be an embedded component of the Series A Preferred Stock, however, is exempt from derivative accounting under the ASC 815 scope exception for specified volumes of sales or service revenues. Therefore, the Company accrues a royalty expense as sales are made.

The Company uses a probability-weighted expected return method to determine the fair value of the contingent milestone payment. The valuation model uses significant unobservable inputs (Level 3), incorporating management’s assumptions regarding the timing and probability of discrete potential exit scenarios, forward interest rate curves, and a weighted average cost of capital based on implied and market yields to discount expected cash flows.

The valuation of the contingent milestone payment requires significant judgment and is sensitive to changes in assumptions related to the expected timing of payment, the likelihood of potential exit scenarios, and the selected discount rate. In developing these assumptions, management considers various qualitative and quantitative factors, including the anticipated progression toward clinical, commercial, and profitability milestones and the potential for a strategic transaction following achievement of each milestone. These factors are evaluated collectively to assess the probability‑weighted timing of the contingent payment under each potential exit scenario reflected in the valuation. As of December 31, 2025 and 2024, the discount rates applied in the valuation were 12.49% and 11.65%, respectively.

Changes in any of the assumptions used in the valuation could result in a materially different fair value measurement and, as a result, could lead to materially different gains or losses recognized in the Consolidated Statements of Operations and Comprehensive Loss upon recurring remeasurement.

A reconciliation of the beginning and ending balances for the derivative liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) is as follows for the year ended December 31, 2025:

	Contingent Milestone Payment
Derivative liabilities - December 31, 2024	$	640,830
Change in fair value		(266,089)
Derivative liabilities - December 31, 2025	$	374,741

	Contingent Milestone Payment
Derivative liabilities - December 31, 2023	$	2,306,796
Change in fair value		(1,665,966)
Derivative liabilities - December 31, 2024	$	640,830

Changes in the fair value of derivative liabilities are included as a component of other income (expense), net in the accompanying consolidated statements of operations and comprehensive loss. During the years ended December 31, 2025 and 2024, the Company recorded a net gain on the change in the fair value of derivative liabilities of $266,089 and $1,665,966, respectively.

- Definition

The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts.

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+ Details

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2025

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Schedule of Liabilities Measured at Fair Value

Liabilities measured at fair value at December 31, 2025 and 2024 are as follows:

	December 31, 2025
	Level 1		Level 2		Level 3		Total
Liabilities:
Derivative Liabilities	$	-	$	-	$	374,741	$	374,741
Total	$	-	$	-	$	374,741	$	374,741

	December 31, 2024
	Level 1		Level 2		Level 3		Total
Liabilities:
Derivative Liabilities	$	-	$	-	$	640,830	$	640,830
Total	$	-	$	-	$	640,830	$	640,830

Schedule of Exchange Rates along with Historical Rates

Exchange rates along with historical rates used in these financial statements are as follows:

	Average Exchange Rate
	Year Ended December 31,				As of
Currency	2025		2024		December 31, 2025		December 31, 2024
1 AUD =	0.64	USD	0.66	USD	0.67	USD	0.62	USD

INVENTORY - Schedule of Inventory (Details) - USD ($)	Dec. 31, 2025	Dec. 31, 2024
Schedule of Inventory [Abstract]
Raw Material (API)	$ 75,662	$ 0
Work in Process	446,957	284,883
Finished Goods	385,982	157,881
Inventory before Allowance	908,601	442,764
Reserve for Expiring Inventory	(251,677)	0
Inventory	$ 656,924	$ 442,764

INTANGIBLE ASSETS (Tables)

12 Months Ended

Dec. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Intangible Assets

As of December 31, 2025 and 2024, Intangible Assets, net consist of:

	December 31, 2025		December 31, 2024
Patents	$	207,428	$	127,603
Website Development Costs		131,622		104,622
Intangible Assets, at cost		339,050		232,225
Accumulated Amortization		(114,689)		(75,141)
Intangible Assets, net	$	224,361	$	157,084

Schedule of Estimated Future Amortization Expense for Our Patents and Website Development Costs

The following table summarizes the estimated future amortization expense for our patents and website development costs as of December 31, 2025:

Period	Patents		Website Development Costs
2026	$	7,337	$	21,432
2027		7,337		12,094
2028		7,337		7,985
2029		7,337		-
2030		7,337		-
Thereafter		31,468		-
Total	$	68,153	$	41,511

INVENTORY

12 Months Ended

Dec. 31, 2025

INVENTORY

INVENTORY

3. INVENTORY

Inventory consists of the following major classes:

	December 31, 2025		December 31, 2024
Raw Material (API)	$	75,662	$	-
Work in Process		446,957		284,883
Finished Goods		385,982		157,881
Inventory before Allowance		908,601		442,764
Reserve for Expiring Inventory		(251,677)		-
Inventory	$	656,924	$	442,764

INCOME TAXES - INCOME TAXES - Schedule of Reconciliation of Income Taxes Computed at the U.S. Statutory Income Tax Rate To Provision (Benefit) for Income Taxes Beforer Adoption of ASU 2023-09 (Details) - USD ($)	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Tax at U.S. Statutory Rate, Amount
Benefit for income taxes at 21% rate	$ (1,547,348)	$ (1,670,637)
State income taxes, net of federal benefit	0	(588,221)
Tax credits	(90,670)	(437,296)
Impact of non-U.S. earnings		(22,103)
Permanent differences		(347,008)
Other reconciling items, net		30,411
Change in valuation allowance		3,034,854
Benefit for Income Taxes	$ 0	$ 0
Effective Income Tax Rate Reconciliation, Percent [Abstract]
Benefit for income taxes at 21% rate, percentage	21.00%	21.00%
State income taxes, net of federal benefit, percentage	0.00%	7.40%
Tax credits, percentage	1.20%	5.50%
Impact of non-U.S. earnings, percentage		0.30%
Permanent differences, percentage		4.40%
Other reconciling items, net, percentage		(0.40%)
Change in valuation allowance, percentage		(38.10%)
Benefit for Income Taxes, percentage	0.00%	0.00%

NATURE OF OPERATIONS

12 Months Ended

Dec. 31, 2025

NATURE OF OPERATIONS

NATURE OF OPERATIONS

1. NATURE OF OPERATIONS

60 Degrees Pharmaceuticals, Inc. was incorporated in Delaware on June 1, 2022 and merged on the same day with 60 Degrees Pharmaceuticals, LLC, a District of Columbia limited liability company organized on September 9, 2010 (“60P LLC”). 60 Degrees Pharmaceuticals, Inc. and its subsidiary (referred to collectively as the “Company”, “60P”, or “60 Degrees Pharmaceuticals”) is a specialty pharmaceutical company that specializes in the development and marketing of new medicines for the treatment and prevention of infectious diseases. 60P achieved FDA approval of its lead product, ARAKODA® (tafenoquine), for malaria prevention, in 2018. Currently, 60P’s pipeline under development covers development programs for vector-borne diseases utilizing three of the Company’s future products: (i) new products that contain the Arakoda regimen of tafenoquine; (ii) new products that contain tafenoquine; and (iii) celgosivir and/or botanical extracts from Australian Chestnut Trees. The Company’s headquarters are located in Washington, D.C., with a majority-owned subsidiary in Australia.

Since the Company’s initial public offering in July 2023, its common stock has been listed and trades on The Nasdaq Capital Market under the symbol “SXTP,” and tradeable warrants under the symbol “SXTPW.”

Risks and Uncertainties

The Company is subject to risks common to companies in the biopharmaceutical industry including, but not limited to, the risks associated with developing product candidates and successfully launching and commercializing its drug/device combination products, the Company’s ability to obtain regulatory approval of its such products in the United States and other geography markets, the uncertainty of the broad adoption of its approved products by physicians and consumers, and significant competition.

In addition, higher rates of inflation have resulted in the U.S. Federal Reserve raising interest rates. Increases in interest rates, especially if coupled with reduced government spending and volatility in financial markets, may further increase economic uncertainty and heighten these risks. Furthermore, if additional banks and financial institutions enter receivership or become insolvent in the future in response to financial conditions affecting the banking system and financial markets, the Company or its partners’ ability to access existing cash, cash equivalents and investments may be threatened and could have a material adverse effect on the Company’s business and financial condition, including the Company’s ability to access additional capital on favorable terms, or at all, which could in the future negatively affect the Company’s ability to pursue its business strategy.

Going Concern

The Company’s future results are subject to substantial risks and uncertainties. Since its inception, the Company has not demonstrated the ability to generate enough revenues to date to cover operating expenses and has accumulated losses to date. At December 31, 2025, the Company had cash and cash equivalents totaling $1,510,065, as compared to cash and cash equivalents totaling $1,659,353 at December 31, 2024. During the year ended December 31, 2025, the Company used cash of $6,849,022 in its operating activities ($5,648,088 during the year ended December 31, 2024). The Company’s capital commitments over the next twelve months include interest and principal payments on the Company’s debt arrangement of $8,772, $1,459,279 to satisfy accounts payable and accrued expenses, and $18,775 payable under its short-term lease arrangement. In addition, the Company is subject to certain royalty obligations based on future net product sales (See Note 11).

To date, the Company has funded its operations primarily with proceeds from sales of common stock and warrants for the purchase of common stock, sales of preferred stock, proceeds from the issuance of convertible debt and borrowings under loan and security agreements.

Continuation as a going concern is dependent upon the Company’s ability to meet its financial requirements, raise additional capital, and achieve gross profitability from the Company’s single marketed product. To achieve profitability, the Company expects it will need to raise additional capital to fund its activities relating to commercial support for its existing product and any future clinical research trials and operating activities. However, there can be no assurance that it will ever achieve or maintain profitability. These conditions, among others, raise substantial doubt about the ability of the Company to continue as a going concern for one year from the date these financial statements are issued.

Management plans to fund operations of the Company through third party and related party debt/advances, private placement of restricted securities and the issuance of stock in a subsequent offering until such a time as the business achieves profitability or a business combination may be achieved. However, there can be no assurance that the Company will be successful in raising additional capital or that such capital, if available, will be on terms that are favorable to the Company. Debt financing and equity financing, if available, may involve agreements that include covenants limiting or restricting the Company’s ability to take specific actions, such as incurring additional debt, making capital expenditures or declaring dividends. If the Company raises funds through collaborations, or other similar arrangements with third parties, it may have to relinquish valuable rights to its technologies, future revenue streams, research programs or product candidates or grant licenses on terms that may not be favorable to the Company and/or may reduce the value of its common stock. If the Company is unable to raise additional funds through equity or debt financings when needed, it may be required to delay, limit, reduce or terminate its product development or future commercialization efforts or grant rights to develop and market its product candidates even if the Company would otherwise prefer to develop and market such product candidates itself.

As such, management concluded that such plans do not alleviate the substantial doubt about the ability of the Company to continue as a going concern for one year from the date these financial statements are issued.

These financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of obligations in the normal course of business, and do not include any adjustments to the amount and classification of assets and liabilities that may be necessary should the Company be unable to continue as a going concern.

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($)

Total

Preferred Stock

Series A

Common Stock

Additional Paid-In Capital

^[1]

Accumulated Deficit

Accumulated Other Comprehensive Income (Loss)

Total Shareholders’ Equity (Deficit) Attributable to 60P

Noncontrolling Interest on Shareholders

Balance at Dec. 31, 2023

$ 4,798,096

$ 9,858,040

$ 2

^[1]

$ 27,457,381

$ (32,580,850)

$ 135,561

$ 4,870,134

$ (72,038)

Balance (in Shares) at Dec. 31, 2023

78,803

24,226

^[1]

Issuance of common stock and warrants, net of underwriting discounts and offering costs paid at closing and deferred offering costs (Note 6)

1,898,296

$ 2

^[1]

1,898,294

1,898,296

Issuance of common stock and warrants, net of underwriting discounts and offering costs paid at closing and deferred offering costs (Note 6) (in Shares)

^[1]

21,922

Issuance of common stock upon exercise of Pre-Funded Warrants

10,963

$ 5

^[1]

10,958

10,963

Issuance of common stock upon exercise of Pre-Funded Warrants (in Shares)

^[1]

52,792

Issuance of common stock pursuant to ATM Offering, net of offering costs paid at closing and deferred offering costs (Note 6)

1,729,810

$ 3

^[1]

1,729,807

1,729,810

Issuance of common stock pursuant to ATM Offering, net of offering costs paid at closing and deferred offering costs (Note 6) (in Shares)

^[1]

33,897

Issuance of common stock for fractional shares pursuant to 1:12 Reverse Stock Split rounding adjustment

$ 1

^[1]

(1)

Issuance of common stock for fractional shares pursuant to 1:12 Reverse Stock Split rounding adjustment (in Shares)

^[1]

4,675

Issuance of shares for RSUs

Issuance of shares for RSUs (in Shares)

^[1]

1,070

Voluntary return of shares issued to vendor for services

Voluntary return of shares issued to vendor for services (in Shares)

^[1]

(500)

Voluntary conversion of Series A Preferred Stock into common stock

$ (290,601)

$ 1

^[1]

290,600

Voluntary conversion of Series A Preferred Stock into common stock (in Shares)

(2,323)

3,667

^[1]

Issuance of warrants in Private Placement, net of offering costs paid at closing and deferred offering costs

3,414,502

Share-based compensation to vendors for services

26,325

Share-based compensation expense

32,767

Net foreign translation gain (loss)

(90)

Net income (loss)

(7,955,663)

(7,947,107)

(8,556)

Balance at Dec. 31, 2024

3,955,006

$ 9,567,439

$ 14

^[1]

34,860,633

(40,527,957)

135,471

4,035,600

(80,594)

Balance (in Shares) at Dec. 31, 2024

76,480

141,749

^[1]

Issuance of common stock and warrants pursuant to January 2025 Offering, net of offering costs paid at closing and deferred offering costs (Note 6)

804,346

$ 5

^[1]

804,341

804,346

Issuance of common stock and warrants pursuant to January 2025 Offering, net of offering costs paid at closing and deferred offering costs (Note 6) (in Shares)

^[1]

51,079

Issuance of common stock and warrants pursuant to February 2025 Offering, net of offering costs paid at closing and deferred offering costs (Note 6)

908,627

$ 8

^[1]

908,619

908,627

Issuance of common stock and warrants pursuant to February 2025 Offering, net of offering costs paid at closing and deferred offering costs (Note 6) (in Shares)

^[1]

75,176

Issuance of common stock upon exercise of Pre-Funded Warrants

2,804

$ 31

^[1]

2,773

2,804

Issuance of common stock upon exercise of Pre-Funded Warrants (in Shares)

^[1]

315,869

Issuance of shares for annual performance bonuses, net of shares withheld for taxes

103,544

$ 0

^[1]

103,544

Issuance of shares for annual performance bonuses, net of shares withheld for taxes (in Shares)

^[1]

3,953

Issuance of common stock and warrants pursuant to July 2025 Offering, net of offering costs paid at closing and deferred offering costs (Note 6)

4,281,300

$ 44

^[1]

4,281,256

4,281,300

Issuance of common stock and warrants pursuant to July 2025 Offering, net of offering costs paid at closing and deferred offering costs (Note 6) (in Shares)

^[1]

438,332

Issuance of common stock pursuant to ATM Offering, net of offering costs paid at closing and deferred offering costs (Note 6)

405,114

$ 14

^[1]

405,100

405,114

Issuance of common stock pursuant to ATM Offering, net of offering costs paid at closing and deferred offering costs (Note 6) (in Shares)

^[1]

136,991

Share rounding adjustment for 1:5 Reverse Stock Split (in Shares)

^[1]

(7)

Share-based compensation expense

279,873

Net foreign translation gain (loss)

7,127

Net income (loss)

(7,368,325)

(7,365,158)

(3,167)

Balance at Dec. 31, 2025

$ 3,379,416

$ 9,567,439

$ 116

^[1]

$ 41,646,139

$ (47,893,115)

$ 142,598

$ 3,463,177

$ (83,761)

Balance (in Shares) at Dec. 31, 2025

76,480

1,163,142

^[1]

[1]	Periods presented have been adjusted to reflect the 1:4 reverse stock split on January 20, 2026.

INTANGIBLE ASSETS - Schedule of Intangible Assets (Details) - USD ($)	Dec. 31, 2025	Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Patents	$ 207,428	$ 127,603
Website Development Costs	131,622	104,622
Intangible Assets, at cost	339,050	232,225
Accumulated Amortization	(114,689)	(75,141)
Intangible Assets, net	$ 224,361	$ 157,084

NATURE OF OPERATIONS (Details) - USD ($)	12 Months Ended
NATURE OF OPERATIONS (Details) - USD ($)	Dec. 31, 2025	Dec. 31, 2024
Nature of Operations [Line Items]
Cash and cash equivalents	$ 1,510,065	$ 1,659,353
Net cash used in operating activities	(6,849,022)	(5,648,088)
Company’s debt	8,772	8,772
Accounts payable and accrued expenses current	1,459,279	$ 1,007,618
Short-term lease	$ 18,775

DERIVATIVE LIABILITIES - Schedule of Derivative Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($)	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Derivative Liabilities [Line Items]
Beginning balance	$ 640,830
Ending balance	374,741	$ 640,830
Fair Value, Inputs, Level 3 [Member]
Derivative Liabilities [Line Items]
Beginning balance	640,830
Ending balance	374,741	640,830
Fair Value, Recurring [Member] \| Contingent Milestone Payment [Member] \| Fair Value, Inputs, Level 3 [Member]
Derivative Liabilities [Line Items]
Beginning balance	640,830	2,306,796
Change in fair value	(266,089)	(1,665,966)
Ending balance	$ 374,741	$ 640,830

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

SUBSEQUENT EVENTS (Details) - USD ($)								1 Months Ended					12 Months Ended
SUBSEQUENT EVENTS (Details) - USD ($)	Mar. 11, 2026	Jan. 20, 2026	Jan. 14, 2026	Oct. 08, 2025	Feb. 24, 2025	Aug. 12, 2024	Aug. 01, 2024	Mar. 25, 2026	Jan. 22, 2026	Oct. 31, 2025	Nov. 30, 2024	Jul. 31, 2024	Dec. 31, 2025	Mar. 02, 2026	Sep. 05, 2025	Feb. 18, 2025	Dec. 31, 2024	Jul. 30, 2024	Feb. 14, 2024
Subsequent Events [Line Items]
ATM Offering							33,897
Sale of stock price per share (in Dollars per share)																			$ 90
Common stock outstanding					1,472,891	1,768,337							1,163,142			7,364,554	141,749	21,219,937
Reverse stock split					1:5	1:12				Following stockholder approval in October 2025, the Company effected an additional reverse stock split at a ratio of 1:4 (the “1:4 Reverse Stock Split” and together with the 1:12 Reverse Stock Split and the 1:5 Reverse Stock Split, the “Reverse Stock Splits”), which was effective January 20, 2026 (See Note 12 – Subsequent Events).	Following stockholder approval in November 2024, the Company effected an additional reverse stock split at a ratio of 1:5 (the “1:5 Reverse Stock Split), which was effective as of February 24, 2025	Following stockholder approval in July 2024, the Company effected a reverse stock split at a ratio of 1:12 (the “1:12 Reverse Stock Split”), which was effective as of August 12, 2024
At-the-Market 2025 Agreement [Member] \| HC Wainwright Co LLC [Member]
Subsequent Events [Line Items]
ATM Offering													136,991
Proceeds from common stock sales agreement net													$ 405,114
Common stock aggregate gross sales proceeds authorized															$ 1,397,532
Sales agent commission percentage															3.00%
Subsequent Event [Member]
Subsequent Events [Line Items]
Common stock outstanding		1,359,091	5,436,441
Reverse stock split		1:4	1:4
Subsequent Event [Member] \| Nasdaq Stock Market LLC (“Nasdaq”) [Member]
Subsequent Events [Line Items]
Number of consecutive business days		30 days
Hearing fee amount paid		$ 20,000
Subsequent Event [Member] \| At-the-Market 2025 Agreement [Member]
Subsequent Events [Line Items]
ATM Offering									418,602
Sale of stock price per share (in Dollars per share)									$ 2.07
Proceeds from common stock sales agreement net									$ 834,705
Subsequent Event [Member] \| March 2026 At-the-Market Agreement [Member] \| HC Wainwright Co LLC [Member]
Subsequent Events [Line Items]
ATM Offering								1,055,106
Sale of stock price per share (in Dollars per share)								$ 2.49
Proceeds from common stock sales agreement net								$ 2,545,297
Common stock aggregate gross sales proceeds authorized														$ 1,308,000
Common Stock Aggregate Gross Sales Proceed Authorized Increase	$ 981,000
Sales agent commission percentage														3.00%
Minimum [Member]
Subsequent Events [Line Items]
Reverse stock split				1:3
Minimum [Member] \| Subsequent Event [Member] \| Nasdaq Stock Market LLC (“Nasdaq”) [Member]
Subsequent Events [Line Items]
Bid price per share		$ 1
Maximum [Member]
Subsequent Events [Line Items]
Reverse stock split				1:10

INCOME TAXES - Schedule of Loss Before Provision (benefit) for Income Taxes (Details) - USD ($)	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
INCOME TAXES
United States	$ (6,908,764)	$ (7,372,282)
Foreign	(459,561)	(583,381)
Loss from Operations before Provision for Income Taxes	$ (7,368,325)	$ (7,955,663)

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
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+ Details

PROPERTY AND EQUIPMENT (Details) - USD ($)	12 Months Ended
PROPERTY AND EQUIPMENT (Details) - USD ($)	Dec. 31, 2025	Dec. 31, 2024
PROPERTY AND EQUIPMENT
Depreciation	$ 43,324	$ 11,726

- Definition

The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets.

+ References + Details

PROPERTY AND EQUIPMENT - Schedule of Property and Equipment (Details) - USD ($)	Dec. 31, 2025	Dec. 31, 2024
Schedule of Property and Equipment [Line Items]
Property and Equipment, at cost	$ 437,219	$ 299,241
Accumulated Depreciation	(190,854)	(149,433)
Property and Equipment, Net	246,365	149,808
Lab Equipment [Member]
Schedule of Property and Equipment [Line Items]
Property and Equipment, at cost	366,791	233,411
Machinery [Member]
Schedule of Property and Equipment [Line Items]
Property and Equipment, at cost	55,800	55,800
Computer Equipment [Member]
Schedule of Property and Equipment [Line Items]
Property and Equipment, at cost	11,598	7,000
Furniture [Member]
Schedule of Property and Equipment [Line Items]
Property and Equipment, at cost	$ 3,030	$ 3,030

Cover - USD ($) $ in Thousands	12 Months Ended
Cover - USD ($) $ in Thousands	Dec. 31, 2025	Mar. 30, 2026	Jun. 30, 2025
Document Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Transition Report	false
Document Financial Statement Error Correction [Flag]	false
Entity Interactive Data Current	Yes
ICFR Auditor Attestation Flag	false
Amendment Flag	false
Document Period End Date	Dec. 31, 2025
Document Fiscal Year Focus	2025
Document Fiscal Period Focus	FY
Documents Incorporated by Reference [Text Block]	None
Entity Information [Line Items]
Entity Registrant Name	60 DEGREES PHARMACEUTICALS, INC.
Entity Central Index Key	0001946563
Entity File Number	001-41719
Entity Tax Identification Number	45-2406880
Entity Incorporation, State or Country Code	DE
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Public Float			$ 3,340
Entity Contact Personnel [Line Items]
Entity Address, Address Line One	1025 Connecticut Avenue
Entity Address, Address Line Two	NW Suite 1000
Entity Address, City or Town	Washington
Entity Address, State or Province	DC
Entity Address, Postal Zip Code	20036
Entity Phone Fax Numbers [Line Items]
City Area Code	(202)
Local Phone Number	327-5422
Entity Listings [Line Items]
Entity Common Stock, Shares Outstanding		2,636,788
Common Stock, par value $0.0001 per share
Entity Listings [Line Items]
Title of 12(b) Security	Common Stock, par value $0.0001 per share
Trading Symbol	SXTP
Security Exchange Name	NASDAQ
Warrants, each warrant to purchase one share of Common Stock
Entity Listings [Line Items]
Title of 12(b) Security	Warrants, each warrant to purchase one share of Common Stock
Trading Symbol	SXTPW
Security Exchange Name	NASDAQ

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)

12 Months Ended

Dec. 31, 2025

Dec. 31, 2024

Statement of Comprehensive Income [Abstract]

Product Revenues – net of Discounts and Rebates

$ 1,005,471

$ 607,574

Cost of Revenues

781,695

384,765

Gross Profit

223,776

222,809

Research Revenues

403,624

73,771

Net Revenue

627,400

296,580

Operating Expenses:

Research and Development

2,106,156

4,986,526

General and Administrative Expenses

6,279,823

5,025,235

Total Operating Expenses

8,385,979

10,011,761

Loss from Operations

(7,758,579)

(9,715,181)

Interest Expense

(7,805)

(7,912)

Change in Fair Value of Derivative Liabilities

266,089

1,665,966

Other Income, net

131,970

101,464

Total Interest and Other Income (Expense), net

390,254

1,759,518

Loss from Operations before Provision for Income Taxes

(7,368,325)

(7,955,663)

Provision for Income Taxes (Note 9)

Net Loss including Noncontrolling Interest

(7,368,325)

(7,955,663)

Net Loss – Noncontrolling Interest

(3,167)

(8,556)

Net Loss – attributed to 60 Degrees Pharmaceuticals, Inc.

(7,365,158)

(7,947,107)

Comprehensive Loss:

Net Loss

(7,368,325)

(7,955,663)

Unrealized Foreign Currency Translation Gain (Loss)

7,127

(90)

Total Comprehensive Loss

(7,361,198)

(7,955,753)

Net Loss – Noncontrolling Interest

(3,167)

(8,556)

Comprehensive Loss – attributed to 60 Degrees Pharmaceuticals, Inc.

(7,358,031)

(7,947,197)

Cumulative Dividends on Series A Preferred Stock

(501,056)

(483,301)

Net Loss - attributed to common stockholders

$ (7,859,087)

$ (8,430,498)

Net Loss per Common Share

Basic (in Dollars per share)

^[1]

$ (11.73)

$ (74.17)

Diluted (in Dollars per share)

$ (11.73)

$ (74.17)

Weighted Average Number of Common Shares Outstanding

Basic (in Shares)

^[1]

670,211

113,665

Diluted (in Shares)

670,211

113,665

[1]	Periods presented have been adjusted to reflect the 1:4 reverse stock split on January 20, 2026.

SHARE-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2025

SHARE-BASED COMPENSATION

Schedule of Share-Based Compensation Expenses

	For the Year Ended December 31,
	2025		2024
Research and Development	$	-	$	3,227,300
General and Administrative Expenses		456,344		381,348
Total Share-Based Compensation Expense Included in Operating Expenses	$	456,344	$	3,608,648

Schedule of Fair Value of Options Granted

The following table summarizes the significant assumptions used in determining the fair value of options granted during the years ended December 31, 2025 and 2024:

	2025			2024
Weighted-average grant date fair value	$	15.24		$	35.12
Risk-free interest rate		3.54%-4.36	%		3.62%-4.17	%
Expected volatility		90.00%-107.65	%		86.00%-87.00	%
Expected term (years)		3.50-4.50			6.41-10.00
Expected dividend yield		0.00	%		0.00	%

Schedule of Stock Option Activities

The following table summarizes the Company’s stock option activities during the year ended December 31, 2025:

	Number of Options	Weighted Average Exercise Price		Aggregate Intrinsic Value		Weighted Average Remaining Contractual Life (Years)
Options outstanding, December 31, 2024	4,414	$	257.15	$	-	9.38
Granted	38,000		21.91		-	7.00
Exercised	-		-		-	-
Forfeited	-		-		-	-
Expired	-		-		-	-
Options outstanding, December 31, 2025	42,414	$	46.39	$	-	6.41

Options vested and exercisable, December 31, 2025	21,940	$	47.18	$	-	6.49

The following table summarizes the Company’s stock option activities during the year ended December 31, 2024:

	Number of Options	Weighted Average Exercise Price		Aggregate Intrinsic Value		Weighted Average Remaining Contractual Life (Years)
Options outstanding, December 31, 2023	160	$	1,272.00	$	-	4.53
Granted	4,254		218.98		-	10.00
Exercised	-		-		-	-
Forfeited	-		-		-	-
Expired	-		-		-	-
Options outstanding, December 31, 2024	4,414	$	257.15	$	-	9.38

Options vested and exercisable, December 31, 2024	1,114	$	466.91	$	-	8.73

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Dec. 31, 2025

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

The financial statements of 60P and its subsidiary are prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The Company has prepared the accompanying consolidated financial statements pursuant to the instructions to Form 10-K and Article 8 of Regulation S-X of the Securities and Exchange Commission (“SEC”). In the opinion of management, all adjustments considered necessary for a fair presentation of the Company’s financial position, results of operations and cash flows have been included and are of a normal and recurring nature.

Principles of Consolidation and Noncontrolling Interest

The Company’s consolidated financial statements include the financial statements of its 96.61% owned subsidiary, 60P Australia Pty Ltd. All significant intercompany accounts and transactions have been eliminated in consolidation.

For entities that are consolidated, but not 100% owned, a portion of the income or loss and corresponding equity is allocated to owners other than the Company. The aggregate of the income or loss and corresponding equity that is not owned by us is included in Noncontrolling Interest in the consolidated financial statements.

Use of Estimates

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates, and those estimates may be material. Significant estimates include the reserve for inventory, the fair value of derivative liabilities, and stock-based compensation.

Reverse Stock Splits

Following stockholder approval in July 2024, the Company effected a reverse stock split at a ratio of 1:12 (the “1:12 Reverse Stock Split”), which was effective as of August 12, 2024. Following stockholder approval in November 2024, the Company effected an additional reverse stock split at a ratio of 1:5 (the “1:5 Reverse Stock Split), which was effective as of February 24, 2025. Following stockholder approval in October 2025, the Company effected an additional reverse stock split at a ratio of 1:4 (the “1:4 Reverse Stock Split” and together with the 1:12 Reverse Stock Split and the 1:5 Reverse Stock Split, the “Reverse Stock Splits”), which was effective January 20, 2026 (See Note 12 – Subsequent Events).

Proportional adjustments were made to the number of shares of common stock issuable upon exercise or conversion of the Company’s equity awards, warrants, and other equity instruments convertible into common stock, as well as the respective exercise prices, if applicable, in accordance with the terms of the instruments. Unless otherwise noted, all references to numbers of shares of the Company’s common stock and per share information presented in these consolidated financial statements have been retroactively adjusted, as appropriate, to reflect the Reverse Stock Splits, including reclassifying an amount equal to the reduction in par value of common stock to additional paid-in capital.

Cash and Cash Equivalents

The Company’s cash consists of cash deposited in demand accounts at financial institutions, which are insured by the Federal Deposit Insurance Corporation (“FDIC”). The Company considers short-term highly liquid investments with original maturities of three months or less to be cash equivalents. The Company’s cash and cash equivalents, at times, may exceed the FDIC insurable limits (currently $250,000). The Company has not experienced any losses related to amounts in excess of FDIC Limits. The Company periodically assesses the credit risk associated with these financial institutions and believes that the risk of loss is minimal.

Short-Term Investments

Short-term investments consist of certificates of deposit with original maturities of greater than three months and less than twelve months, which are classified as held-to-maturity as the Company has the intent and ability to hold these investments until they mature. The classification of short-term investments is determined at the time of purchase and is reevaluated at each balance sheet date. Short-term investments are reported at amortized cost.

Accounts Receivable and Allowance for Doubtful Accounts

The Company records accounts receivable at net realizable value. This value includes an appropriate allowance for estimated uncollectible accounts to reflect any loss anticipated on the trade accounts receivable balances and charged to the provision for doubtful accounts. Based on the Company’s history there has been no need to make a recording to Allowance for Doubtful Accounts. Most of the Company’s revenue has been earned via government contracts, an Australian pharmaceutical distributor and a large American pharmaceutical distributor. There was no allowance as of December 31, 2025 and December 31, 2024. As the Company continues to engage with smaller distributors, it will continue to analyze whether an allowance should be established. As of December 31, 2025, the U.S. pharmaceutical distributor accounted for 97% of the accounts receivable balance (95% as of December 31, 2024).

Inventory

Inventories are stated at the lower of cost or net realizable value. Cost is comprised of direct materials and, where applicable, costs that have been incurred in bringing the inventories to their present location and condition. The Company uses the Specific Identification method per lot. A box or a bottle price is calculated per lot number and sales are recognized by their lot number.

The Company regularly monitors its inventory levels to identify inventory that may expire or has a cost basis in excess of its estimated realizable value, and records write-downs for inventory that has expired, inventory that has a cost basis in excess of its expected net realizable value, and inventory in excess of expected sales requirements. Any write-downs of inventories are charged to Cost of Revenues in the Consolidated Statements of Operations and Comprehensive Loss. During the year ended December 31, 2025, write-downs for expired inventory totaled $445,181 ($22,046 for the year ended December 31, 2024).

Property and Equipment

Property and equipment are stated at cost. Normal repairs and maintenance costs are charged to earnings as incurred and additions and major improvements are capitalized. The cost of assets retired or otherwise disposed of and the related depreciation are eliminated from the accounts in the period of disposal and the resulting gain or loss is credited or charged to earnings.

Depreciation is computed over the estimated useful lives of the related asset type or term of the operating lease using the straight-line method for financial statement purposes. The estimated service lives for Property and Equipment are either three (3), five (5) or seven (7) years.

Impairment of Long-lived Assets

Long-lived assets, such as property and equipment and identifiable intangibles with finite useful lives, are periodically evaluated for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. The Company monitors for potential indicators of a trigger event for asset impairment, including whether there is an adverse change in the extent or manner in which an asset is being used or its physical condition. Assets are grouped and evaluated for impairment at the lowest level of which there are identifiable cash flows, which is generally at a location level. Assets are reviewed using factors including, but not limited to, future operating plans and projected cash flows. The determination of whether impairment has occurred is based on an estimate of undiscounted future cash flows directly related to the assets, compared to the carrying value of the assets. If the sum of the undiscounted future cash flows of the assets does not exceed the carrying value of the assets, full or partial impairment may exist. If the asset’s carrying amount exceeds its fair value, an impairment charge is recognized in the amount by which the carrying amount exceeds the fair value of the asset. Fair value is determined using an income approach, which requires discounting the estimated future cash flows associated with the asset.

Intangible Assets

The Company capitalizes its patent and filing fees and legal patent and prosecution fees in connection with internally developed pending patents. When pending patents are issued, patents will be amortized over the expected period to be benefitted, not to exceed the patent lives, which may be as long as ten to fifteen years.

Website Development Costs

The Company accounts for website development costs in accordance with the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Subtopic No. 350-50, Website Development Costs. Accordingly, all costs incurred in the planning stage are expensed as incurred, costs incurred in the website application and infrastructure development stage that meet specific criteria are capitalized and costs incurred in the day-to-day operation of the website are expensed as incurred. All costs associated with the websites are subject to straight-line amortization over a three-year period.

Derivative Liabilities

The Company assesses the classification of its derivative financial instruments each reporting period, which formerly consisted of bridge shares, convertible notes payable, and certain warrants, and determined that such instruments initially qualified for treatment as derivative liabilities as they met the criteria for liability classification under ASC 815. As of December 31, 2025, the Company’s derivative financial instruments consist of contingent payment arrangements.

The Company analyzes all financial instruments with features of both liabilities and equity under FASB ASC Topic No. 480, Distinguishing Liabilities from Equity (“ASC 480”), and FASB ASC Topic No. 815, Derivatives and Hedging (“ASC 815”). Derivative liabilities are adjusted to reflect fair value at each reporting period, with any increase or decrease in the fair value recorded in the results of operations, as a component of other income or expense as change in fair value of derivative liabilities. The Company uses a probability-weighted expected return method to determine the fair value of these instruments.

Upon conversion or repayment of a debt or equity instrument in exchange for equity shares, where the embedded conversion option has been bifurcated and accounted for as a derivative liability (generally convertible debt and warrants), the Company records the equity shares at fair value on the date of conversion, relieves all related debt, derivative liabilities, and unamortized debt discounts, and recognizes a net gain or loss on debt extinguishment, if any.

Equity or liability instruments that become subject to reclassification under ASC Topic 815 are reclassified at the fair value of the instrument on the reclassification date.

Equity-Classified Warrants

As of December 31, 2025, the Company accounts for all outstanding warrants to purchase common stock as equity-classified instruments based on an assessment of the warrants’ specific terms and applicable authoritative guidance in ASC 480 and ASC 815. This assessment considers whether the warrants are freestanding financial instruments pursuant to ASC 480, meet the definition of a liability pursuant to ASC 480, whether the warrants meet all of the requirements for equity classification under ASC 815, including whether the warrants are indexed to the Company’s own common stock and whether the warrant holders could potentially require “net cash settlement” in a circumstance outside of the Company’s control, among other conditions for equity classification. This assessment, which requires the use of professional judgment, is conducted at the respective issuance dates and as of each subsequent reporting period while the warrants are outstanding.

Income Taxes

60 Degrees Pharmaceuticals, Inc. is a corporation for U.S. Federal and state income tax purposes. The tax years that remain subject to examination by major tax jurisdictions include the years ended December 31, 2022, 2023, 2024 and 2025. 60P Australia Pty Ltd. is subject to taxation by the Australian Taxation Office.

Management assesses, on a jurisdictional basis, the available means of recovering deferred tax assets, including the ability to carry-back net operating losses, the existence of reversing temporary differences, the availability of tax planning strategies and available sources of future taxable income. On the basis of this evaluation, the Company has determined that it is not more likely than not that the Company will recognize the benefits of its net deferred tax assets, and, as a result, a full valuation allowance has been recorded against its net deferred tax assets as of December 31, 2025 and December 31, 2024.

During the ordinary course of business, there are many transactions and calculations for which the ultimate tax determination is uncertain. The Company establishes reserves for tax-related uncertainties based on estimates of whether, and the extent to which, additional taxes will be due. These reserves are established when the Company believes that certain positions might be challenged despite its belief that its tax return positions are fully supportable. The Company adjusts these reserves in light of changes in facts and circumstances, such as the outcome of tax examinations. As of December 31, 2025 and December 31, 2024, no reserves for uncertain tax positions have been established.

The Company recognizes interest and penalties accrued related to unrecognized tax benefits as income tax expense. During the years ended December 31, 2025 and 2024, the Company did not recognize interest and penalties related to unrecognized tax benefits.

Concentrations

Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents, short-term investments, accounts receivable, inventory purchases, and borrowings.

Significant customers represent any customer whose business makes up 10% of receivables or revenues. At December 31, 2025, significant customers represented 97% of receivables (consisting of three customers and one significant customer) and 92% of total net product revenues (consisting of three customers and one significant customer). At December 31, 2024, significant customers represented 95% of receivables (consisting of three customers and one significant customer) and 95% of total net product revenues (consisting of three customers and one significant customer).

Currently, the Company has exclusive relationships with distributors in Australia and Europe. A failure to perform by any of our current distributors would create disruption for patients in those markets.

Since the Company first started working on tafenoquine all inventory has been acquired in a collaborative relationship from a sole vendor. Should the vendor cease to supply tafenoquine it would take significant costs and efforts to rebuild the supply chain with a new sole vendor sourcing the active pharmaceutical ingredient (“API”).

Segment Information

Since its inception, the Company operates and manages its business as a single identifiable segment, focused on the development and marketing of new medicines for the treatment and prevention of infectious diseases. The determination of a single business segment is consistent with the consolidated financial information regularly provided to the Company’s chief operating decision maker (“CODM”).

The Company’s CODM is its Chief Executive Officer, who reviews and evaluates consolidated net income or loss for purposes of evaluating performance, making operating decisions, allocating resources, and planning and forecasting for future periods. The significant components of consolidated net income or loss regularly provided to the CODM include net product revenues and the significant expense categories presented in the accompanying Consolidated Statements of Operations and Comprehensive Loss (cost of revenues, research and development, and general and administrative expenses). These are presented at the consolidated level and used by the CODM to monitor budgeted versus actual results to make key operating decisions. The information and operating expense categories presented in the accompanying Consolidated Statements of Operations and Comprehensive Loss are fully reflective of the significant expense categories and amounts that are regularly provided to the CODM.

The measure of segment assets that is regularly reported to the CODM includes cash and cash equivalents and short-term investments, each as reported on the Consolidated Balance Sheets. Total consolidated cash and cash equivalents and short-term investments were $2,750,786 and $3,387,825 as of December 31, 2025 and December 31, 2024, respectively.

Revenue Recognition

The Company recognizes revenue in accordance with FASB ASC Topic No. 606, Revenue from Contracts with Customers (“ASC 606”). Revenues are recognized when control is transferred to customers in amounts that reflect the consideration the Company expects to be entitled to receive in exchange for those goods. Revenue recognition is evaluated through the following five steps: (i) identification of the contract, or contracts, with a customer; (ii) identification of the performance obligations in the contract; (iii) determination of the transaction price; (iv) allocation of the transaction price to the performance obligations in the contract; and (v) recognition of revenue when or as a performance obligation is satisfied. As part of the accounting for these arrangements, the Company may be required to make significant judgments, including identifying performance obligations in the contract, estimating the amount of variable consideration to include in the transaction price and allocating the transaction price to each performance obligation.

Revenues from product sales are recorded at the net sales price, or “transaction price,” which may include estimates of variable consideration that result from product returns. The Company determines the amount of variable consideration by using either the expected value method or the most-likely-amount method. The Company includes the unconstrained amount of estimated variable consideration in the transaction price, which reflects the amount for which it is probable that a significant reversal of cumulative revenue recognized will not occur. At the end of each subsequent reporting period, the Company re-evaluates the estimated variable consideration included in the transaction price and any related constraint, and if necessary, adjusts its estimate of the overall transaction price. Any such adjustments are recorded on a cumulative catch-up basis in the period of adjustment. Reserves are established for the estimates of variable consideration based on the amounts the Company expects to be earned or to be claimed on the related sales.

The Company receives the majority of its revenues from sales of its Arakoda™ product to resellers in the US and abroad. The Company records US commercial revenues as a receivable when our American distributor transfers shipped product to their title model for 60P. Foreign sales to both Australia and Europe are recognized as a receivable at the point product is shipped to distributor. Historically, the shipments to Australia and Europe were further subject to profit sharing agreements for boxes sold to customers.

In addition to revenue from product sales, beginning in the third quarter of 2024, the Company recognizes research revenues associated with its contract with the United States Army Medical Materiel Development Activity (USAMMDA) for Arakoda supply chain upgrade support. Research revenue under this contract is recognized when the direct costs eligible for reimbursement are incurred, up to the maximum allowable amount. Other research revenues consist of sales of clinical trial supplies, which are recognized at a point in time, and research rebates earned from the Australian Tax Authority, which are recognized over time as qualifying research activities in Australia are performed.

Research and Development Costs

The Company accounts for research and development costs in accordance with FASB ASC Subtopic No. 730-10, Research and Development (“ASC 730-10”). Under ASC 730-10, research and development costs are expensed as incurred. Accordingly, internal research and development costs are expensed as incurred. Prepayments for research and development services are deferred and amortized over the service period as the services are provided. Advance payments for specific materials, equipment, or facilities determined to have no alternative future use are initially deferred and recognized as research and development expense when the related goods are delivered.

The Company recorded $2,106,156 in research and development costs during the year ended December 31, 2025 ($4,986,526 for the year ended December 31, 2024). The Company has also issued shares of common stock to nonemployees in exchange for research and development services. The Company recognizes prepaid research and development costs on the grant date, as defined in FASB ASC Subtopic No. 718, Compensation – Stock Compensation. See Note 10 for further details.

Fair Value of Financial Instruments and the Fair Value Option (“FVO”)

The inputs used to measure fair value are based on a hierarchy that prioritizes observable and unobservable inputs used in valuation techniques. These levels, in order of highest to lowest priority, are described below:

Level 1	-	Quoted prices (unadjusted) in active markets that are accessible at the measurement date for identical assets or liabilities.

Level 2	-	Observable prices that are based on inputs not quoted on active markets but corroborated by market data.

Level 3	-	Unobservable inputs reflecting the Company’s assumptions, consistent with reasonably available assumptions made by other market participants. These valuations require significant judgment.

The Company may choose to elect the FVO for certain eligible financial instruments, such as certain Promissory Notes, in order to simplify the accounting treatment. Items for which the FVO has been elected are presented at fair value in the Consolidated Balance Sheets and any change in fair value unrelated to credit risk is recorded in Other Expense, net in the Consolidated Statements of Operations and Comprehensive Loss. Changes in fair value related to credit risk are recognized in Other Comprehensive Loss. As a result of the completion of the IPO, all financial instruments for which the FVO was elected were extinguished. See Note 7 for more information on the extinguishment of the Promissory Notes.

The Company’s financial instruments recorded at fair value on a recurring basis at December 31, 2025, and December 31, 2024 include the derivative liability associated with the contingent milestone payment due to Knight upon a future sale of Arakoda™ or a Change of Control, which is carried at fair value based on Level 3 inputs. The Company uses a probability-weighted expected return method to determine the fair value of the contingent milestone payment using significant inputs such as the timing and probability of discrete potential exit scenarios, forward interest rate curves, and discount rates based on implied and market yields. See Note 8 for more information on Derivative Liabilities.

Liabilities measured at fair value at December 31, 2025 and 2024 are as follows:

	December 31, 2025
	Level 1		Level 2		Level 3		Total
Liabilities:
Derivative Liabilities	$	-	$	-	$	374,741	$	374,741
Total	$	-	$	-	$	374,741	$	374,741

	December 31, 2024
	Level 1		Level 2		Level 3		Total
Liabilities:
Derivative Liabilities	$	-	$	-	$	640,830	$	640,830
Total	$	-	$	-	$	640,830	$	640,830

There were no transfers of financial instruments between Level 1, Level 2, and Level 3 during the periods presented. A rollforward of liabilities measured at fair value using Level 3 inputs outstanding during the years ended December 31, 2025 and 2024 is presented in Note 8 (Derivative Liabilities).

Assets and Liabilities Not Measured at Fair Value on a Recurring Basis

In addition to assets and liabilities that are measured at fair value on a recurring basis, the Company also measures certain assets and liabilities at fair value on a non-recurring basis. The Company’s non-financial assets, including Intangible Assets and Property and Equipment, are measured at fair value when there is an indication of impairment and the carrying amount exceeds the asset’s projected undiscounted cash flows. These assets are recorded at fair value only when an impairment charge is recognized.

As of December 31, 2025 and 2024, the carrying value of the Company’s financial instruments included in current assets and current liabilities (such as cash, accounts receivable, accounts payable, and accrued expenses) approximate their fair value due to the short-term nature of such instruments. Certificates of deposit, classified as cash equivalents or short-term investments depending on the instrument’s original time to maturity, are measured at amortized cost, which approximates fair value as of December 31, 2025 and 2024.

Foreign Currency Transactions and Translation

The individual financial statements of each group entity are measured and presented in the currency of the primary economic environment in which the entity operates (its functional currency). The consolidated financial statements of the Company are presented in US dollars, which is the functional currency of the Company and the presentation currency for the consolidated financial statements.

For the purpose of presenting consolidated financial statements, the assets and liabilities of the Company’s foreign operations are mostly translated at exchange rates prevailing on the reporting date. Income and expense items are translated at the average exchange rates for the period, unless exchange rates fluctuate significantly during that period, in which case the exchange rates at the dates of the transactions are used. Exchange differences arising, if any, are recognized as a component of other comprehensive income (loss) as Unrealized Foreign Currency Translation Gain or Loss.

Exchange rates along with historical rates used in these financial statements are as follows:

	Average Exchange Rate
	Year Ended December 31,				As of
Currency	2025		2024		December 31, 2025		December 31, 2024
1 AUD =	0.64	USD	0.66	USD	0.67	USD	0.62	USD

Reclassifications

Certain prior period amounts have been reclassified for consistency with the current period presentation. These reclassifications had no material effect on the consolidated results of operations and comprehensive loss, shareholders’ equity, or cash flows.

Share-Based Payments

On November 22, 2022, the Company adopted the 2022 Equity Incentive Plan also referred to as (“2022 Plan”). The 2022 Plan and related share-based awards are discussed more fully in Note 10.

The Company accounts for share-based payments in accordance with ASC Subtopic 718, Compensation - Stock Compensation (“ASC 718”). The Company measures compensation for all share-based payment awards granted to employees, directors, and nonemployees, based on the estimated fair value of the awards on the date of grant. For awards that vest based on continued service, the service-based compensation cost is recognized on a straight-line basis over the requisite service period, which is generally the vesting period of the awards. For service vesting awards with compensation expense recognized on a straight-line basis, at no point in time does the cumulative grant date value of vested awards exceed the cumulative amount of compensation expense recognized. The grant date is determined based on the date when a mutual understanding of the key terms of the share-based awards is established. The Company accounts for forfeitures as they occur.

The Company estimates the fair value of all stock option awards as of the grant date by applying the Black-Scholes option pricing model. The application of this valuation model involves assumptions, including the fair value of the common stock, expected volatility, risk-free interest rate, expected dividends and the expected term of the option. Due to the lack of a public market for the Company’s common stock prior to the IPO and lack of company-specific historical implied volatility data, the Company has based its computations of expected volatility on the historical volatility of a representative group of public companies with similar characteristics of the Company, including stage of development and industry focus. The historical volatility is calculated based on a period of time commensurate with the expected term assumption. The Company generally uses the simplified method as prescribed by the SEC Staff Accounting Bulletin Topic 14, Share-Based Payment, to estimate the expected term for stock options, whereby, the expected term equals the midpoint of the weighted average remaining time to vest, vesting period and the contractual term of the options due to its lack of historical exercise data. For certain options granted out-of-the-money, the Company’s best estimate of the expected term is the contractual term of the award. The risk-free interest rate is based on U.S. Treasury securities with a maturity date commensurate with the expected term of the associated award. The expected dividend yield is assumed to be zero as the Company has never paid dividends and has no current plans to pay any dividends on its common stock. The assumptions used in calculating the fair value of share-based awards represent management’s best estimates and involve inherent uncertainties and the application of significant judgment.

Compensation expense for restricted stock units (“RSUs”) with only service-based vesting conditions is recognized on a straight-line basis over the vesting period. Compensation cost for service-based RSUs is based on the grant date fair value of the award, which is the closing market price of the Company’s common stock on the grant date multiplied by the number of shares awarded.

For awards that vest upon a liquidity event or a change in control, the performance condition is not probable of being achieved until the event occurs. As a result, no compensation expense is recognized until the performance-based vesting condition is achieved, at which time the cumulative compensation expense is recognized. Compensation cost related to any remaining time-based service for share-based awards after the liquidity-based event is recognized on a straight-line basis over the remaining service period.

For fully vested, nonforfeitable equity instruments that are granted at the date the Company and a nonemployee enter into an agreement for goods or services, the Company recognizes the fair value of the equity instruments on the grant date. The corresponding cost is recognized as an immediate expense or a prepaid asset and expensed over the service period depending on the specific facts and circumstances of the agreement with the nonemployee. See Note 10 for further details.

Net Loss per Common Share

Net Loss per Common Share is computed by dividing net loss attributable to common shareholders by the weighted average number of common shares outstanding during each period. The Company has included the Pre-Funded Warrants issued in January 2024 and September 2024 (See Note 6) in its computation of basic and diluted net loss per share due to their nominal exercise prices. The cumulative dividends accrued on the Series A Preferred Stock during the period are reflected as an addition to net loss in determining basic and diluted net loss attributable to common stockholders.

As the Company has reported a net loss for all periods presented, the calculation of diluted net loss per common share is the same as basic net loss per common share for those periods.

As a result of the Reverse Stock Splits, which were effective as of August 12, 2024 at a ratio of 1:12, February 24, 2025 at a ratio of 1:5, and January 20, 2026 at a ratio of 1:4, all shares of outstanding common stock and net loss per common share calculations have been retroactively adjusted for all periods presented.

Related Parties

Parties are considered to be related to the Company if the parties, directly or indirectly, through one or more intermediaries, control, are controlled by, or are under common control with the Company. Related parties also include principal owners of the Company, its management, members of the immediate families of principal owners of the Company and its management and other parties with which the Company may deal with if one party controls or can significantly influence the management or operating policies of the other to an extent that one of the transacting parties might be prevented from fully pursuing its own separate interests.

Subsequent Events

The Company considers events or transactions that occur after the balance sheet date, but prior to the issuance of the financial statements to provide additional evidence relative to certain estimates or to identify matters that require additional disclosure. Subsequent events have been evaluated through March 30, 2026, which is the date the financial statements were issued. See Note 12.

Recently Adopted and Issued Accounting Pronouncements

From time to time, the FASB issues Accounting Standards Updates (“ASU”) to amend the authoritative literature in the ASC. The Company regularly evaluates new ASUs to determine the impact that these pronouncements may have on the consolidated financial statements. Other than the pronouncements listed below, the Company believes that those issued to date either (i) provide supplemental guidance, (ii) are technical corrections, or (iii) are not applicable to the Company’s consolidated financial statements or related disclosures.

In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (“ASU 2023-07”) which expands annual and interim disclosure requirements for reportable segments, primarily through enhanced disclosures about significant segment expenses and segment profit or loss. ASU 2023-07 also requires entities with a single reportable segment to provide all segment disclosures under ASC 280, including the new required disclosures under the ASU. The Company adopted ASU 2023-07 on a retrospective basis for the 2024 annual period, and for interim periods beginning in 2025. The impact is limited to the Company’s financial statement disclosures, which are presented in the Segment Information section above.

In December 2023, the FASB issued ASU 2023-09, Income Taxes (ASC 740): Improvements to Income Tax Disclosures (“ASU 2023-09”) which requires disaggregated information about a reporting entity’s effective tax rate reconciliation as well as information on income taxes paid. ASU 2023-09 was effective for the Company’s annual period ending December 15, 2025. The impact of the adoption is limited to the Company’s financial statement disclosures, which are presented on a prospective basis. See Note 9 – Income Taxes.

In November 2024, the FASB issued ASU 2024-03, Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses (“ASU 2024-03”), which applies to all public business entities that file financial statements with the SEC. The amendments in this ASU require public business entities to disclose on an annual and interim basis, disaggregated information about certain income statement expense line items. The new standard is effective for fiscal years beginning after December 15, 2026, with early adoption permitted. The Company is currently evaluating the impact that ASU 2024-03 will have on its financial statement disclosures.

In September 2025, the FASB issued ASU 2025-06, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software (“ASU 2025-06”), which amends certain aspects of the accounting for and disclosure of software costs under ASC 350-40. The amendments modernize the recognition and disclosure framework for internal-use software costs, removing the previous “development stage” model and introducing a more judgment-based approach. The ASU is effective for all entities for interim and annual periods beginning after December 15, 2027, with early adoption permitted. The Company is currently evaluating the impact that ASU 2025-06 will have on its consolidated financial statements.

In September 2025, the FASB issued ASU 2025-07, Derivatives Scope Refinements and Scope Clarification for Share-Based Noncash Consideration from a Customer in a Revenue Contract (“ASU 2025-07”). ASU 2025-07 adds a new scope exception from derivative accounting under ASC 815 for certain non-exchange-traded contracts with customers with an underlying that is based on operations or activities specific to one of the parties to the contract. Further, ASU 2025-07 clarifies that an entity should apply the guidance in ASC 606 to a contract with stock-based noncash consideration. The ASU is effective for annual periods beginning after December 15, 2026 and interim periods within those annual periods, with early adoption permitted. The Company is currently evaluating the impact that ASU 2025-06 will have on its consolidated financial statements.

DEBT - Schedule of the Current Future Payment Obligations (Details)	Dec. 31, 2025 USD ($)
DEBT
2026	$ 713
2027	3,229
2028	3,337
2029	3,480
2030	3,612
Thereafter	135,629
Total	$ 150,000

- Definition

Amount, after deduction of unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
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+ Details

Cybersecurity Risk Management and Strategy Disclosure	12 Months Ended
Cybersecurity Risk Management and Strategy Disclosure	Dec. 31, 2025
Cybersecurity Risk Management, Strategy, and Governance [Line Items]
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]	We acknowledge the increasing importance of cybersecurity in today’s digital and interconnected world. Cybersecurity threats pose significant risks to the integrity of our systems and data, potentially impacting our business operations, financial condition and reputation. As a smaller reporting company, we currently do not have formalized cybersecurity measures, a dedicated cybersecurity team or specific protocols in place to manage cybersecurity risks. Our approach to cybersecurity is in the developmental stage, and we have not yet conducted comprehensive risk assessments, established an incident response plan or engaged with external cybersecurity consultants for assessments or services. Given our current stage of cybersecurity development, we have not experienced any significant cybersecurity incidents to date. However, we recognize that the absence of a formalized cybersecurity framework may leave us vulnerable to cyberattacks, data breaches and other cybersecurity incidents. Such events could potentially lead to unauthorized access to, or disclosure of, sensitive information, disrupt our business operations, result in regulatory fines or litigation costs and negatively impact our reputation among customers and partners. In addition, cybersecurity incidents could have material adverse effects on our business strategy, financial condition, and results of operations (e.g., a significant breach could result in direct financial losses due to fraud, system downtime impacting revenue generation, increased compliance costs or contractual liabilities with third-party vendors and customers). We are in the process of evaluating our cybersecurity needs and developing appropriate measures to enhance our cybersecurity posture. This includes considering the engagement of external cybersecurity experts to advise on best practices, conducting vulnerability assessments and developing an incident response strategy. Our goal is to establish a cybersecurity framework that is commensurate with our size, complexity and the nature of our operations, thereby reducing our exposure to cybersecurity risks. In addition, the Board will oversee any cybersecurity risk management framework and a dedicated committee of the Board or an officer appointed by the Board will review and approve any cybersecurity policies, strategies and risk management practices. The Board (or designated committee or officer) will receive periodic updates on cybersecurity risks, including emerging threats, mitigation efforts and incident response activities. The updates will be provided at least annually, or more frequently as needed, to ensure cybersecurity risks are appropriately managed and integrated into our broader risk oversight strategy. Despite our efforts to improve our cybersecurity measures, there can be no assurance that our initiatives will fully mitigate the risks posed by cyber threats. The landscape of cybersecurity risks is constantly evolving, and we will continue to assess and update our cybersecurity measures in response to emerging threats For a discussion of potential cybersecurity risks affecting us, please refer to the “Risk Factors” section of our Registration Statement on Form S-1 filed with the Securities and Exchange Commission on February 14, 2025 titled “Cybersecurity risks could adversely affect our business and disrupt our operations.”
Cybersecurity Risk Management Processes Integrated [Text Block]	Cybersecurity threats pose significant risks to the integrity of our systems and data, potentially impacting our business operations, financial condition and reputation.
Cybersecurity Risk Management Processes Integrated [Flag]	true
Cybersecurity Risk Management Third Party Engaged [Flag]	false
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag]	false
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag]	false
Cybersecurity Risk Role of Management [Text Block]	In addition, the Board will oversee any cybersecurity risk management framework and a dedicated committee of the Board or an officer appointed by the Board will review and approve any cybersecurity policies, strategies and risk management practices. The Board (or designated committee or officer) will receive periodic updates on cybersecurity risks, including emerging threats, mitigation efforts and incident response activities. The updates will be provided at least annually, or more frequently as needed, to ensure cybersecurity risks are appropriately managed and integrated into our broader risk oversight strategy.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]	the Board will oversee any cybersecurity risk management framework and a dedicated committee of the Board or an officer appointed by the Board will review and approve any cybersecurity policies, strategies and risk management practices
Cybersecurity Risk Board of Directors Oversight [Text Block]	the Board will oversee any cybersecurity risk management framework and a dedicated committee of the Board or an officer appointed by the Board will review and approve any cybersecurity policies, strategies and risk management practices
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]	The landscape of cybersecurity risks is constantly evolving, and we will continue to assess and update our cybersecurity measures in response to emerging threats
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]	For a discussion of potential cybersecurity risks affecting us, please refer to the “Risk Factors” section of our Registration Statement on Form S-1 filed with the Securities and Exchange Commission on February 14, 2025 titled “Cybersecurity risks could adversely affect our business and disrupt our operations.”

INCOME TAXES - Schedule of Deferred Tax Assets (liabilities) (Details) - USD ($)	Dec. 31, 2025	Dec. 31, 2024
Deferred tax assets:
Net operating loss carry-forward	$ 6,557,593	$ 4,191,575
Tax credits	527,966	437,296
Non-deductible reserves	75,213	44,733
Capitalized R&D costs	975,924	1,268,685
Share-based compensation	58,890	41,830
Other temporary differences	1,374	0
Gross deferred tax assets	8,196,960	5,984,119
Less valuation allowance	(8,151,443)	(5,915,350)
Total deferred tax assets, net of valuation allowance	45,517	68,769
Deferred tax liabilities:
Fixed asset depreciation	(10,865)	(2,783)
Prepaid expenses	(34,652)	(65,986)
Total deferred tax liabilities	(45,517)	(68,769)
Net deferred tax liabilities	$ 0	$ 0

STOCKHOLDERS' EQUITY (Tables)

12 Months Ended

Dec. 31, 2025

STOCKHOLDERS’ EQUITY

Schedule of Equity-Classified Warrants

The following table presents a summary of the activity for the Company’s equity-classified warrants during the year ended December 31, 2024:

	Number of Warrants	Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (Years)
Total outstanding, December 31, 2023	13,190	$	1,479.86	4.47
Granted(1)	480,879		24.01	3.47
Exercised	(52,792)		0.21	Indefinite
Forfeited	-		-	-
Expired	-		-	-
Total outstanding, December 31, 2024(1)	441,277	$	70.37	3.26
Total exercisable, December 31, 2024(1)	441,277	$	70.37	3.26

(1)

Weighted average remaining contractual life calculations exclude (i) 4,164 Pre-Funded Warrants issued January 2024 that do not have a contractual expiration date, for which 0 remained outstanding at December 31, 2024 and (ii) 144,928 Pre-Funded Warrants issued September 2024 that do not have a contractual expiration date, for which 96,300 remained outstanding and were exercisable at December 31, 2024.

The following table presents a summary of the activity for the Company’s equity-classified warrants during the year ended December 31, 2025:

	Number of Warrants	Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (Years)
Total outstanding, December 31, 2024(1)	441,277	$	70.37	3.26
Granted(2)	1,771,520		7.41	2.76
Exercised	(315,869)		0.009	Indefinite
Forfeited	-		-	-
Expired	-		-	-
Total outstanding, December 31, 2025	1,896,928	$	23.29	2.57
Total exercisable, December 31, 2025	1,896,928	$	23.29	2.57

(1)	Weighted average remaining contractual life at December 31, 2024 excludes 96,300 Pre-Funded Warrants issued September 2024 that do not have a contractual expiration date, for which 0 warrants remain outstanding and exercisable at December 31, 2025.
(2)	Weighted average remaining contractual life excludes 219,569 Pre-Funded Warrants issued July 2025 that do not have a contractual expiration date, for which 0 warrants remain outstanding and exercisable at December 31, 2025.

Schedule of Assumptions Used In Determining the Fair Value of Equity-Classified Warrants Granted

The following table summarizes the significant assumptions used in determining the fair value of equity classified warrants on the respective grant or reclassification dates for the years ended December 31, 2025 and 2024:

	2025			2024
Stock price	$	6.56 - 16.00		$	28.80 - 67.20
Exercise price	$	7.60 - 25.53		$	27.60 - 101.64
Risk-free interest rate		3.98% - 4.21	%		3.54% - 3.98	%
Expected volatility		95.00	%		95.00	%
Expected term (years)		1.50 - 5.00			1.50 - 5.00
Expected dividend yield		0.00	%		0.00	%

DERIVATIVE LIABILITIES (Details) - USD ($)			12 Months Ended
DERIVATIVE LIABILITIES (Details) - USD ($)	Mar. 31, 2022	Mar. 22, 2022	Dec. 31, 2025	Dec. 31, 2024
Derivative Liabilities [Line Items]
Gain on change in fair of derivative liabilities			$ 266,089	$ 1,665,966
Preferred Stock, Redemption Terms			For the period ending upon the earlier of (i) 10 years after the closing of the IPO, or (ii) the conversion or redemption in full of the Series A Preferred Stock, the Company will pay to Knight a royalty equal to 3.5% of the Company’s net sales (the “Royalty”) on a quarterly basis, where “Net Sales” has the same meaning as in the Company’s license agreement with the U.S. Army for tafenoquine.
Sale of Stock, Percentage of Ownership after Transaction	19.90%
Shares converted	4,619
Milestone Payment			$ 10,000,000
Royalty percentage			3.50%
Valuation of contingent milestone payment, discount rate			12.49%	11.65%
Series A Non-Voting Convertible Preferred Stock [Member]
Derivative Liabilities [Line Items]
Shares converted		80,965

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

STOCKHOLDERS' EQUITY

12 Months Ended

Dec. 31, 2025

STOCKHOLDERS’ EQUITY

STOCKHOLDERS’ EQUITY

6. STOCKHOLDERS’ EQUITY

Pursuant to the Certificate of Incorporation of 60 Degrees Pharmaceuticals, Inc., the Company’s authorized shares consist of (a) 150,000,000 shares of common stock, par value $0.0001 per share and (b) 1,000,000 shares of preferred stock, par value $0.0001 per share, of which 80,965 have been designated as Series A Non-Voting Convertible Preferred Stock (“Series A Preferred Stock”). As of December 31, 2025, 1,163,142 shares of Common Stock and 76,480 shares of Series A Preferred Stock are issued and outstanding.

Following stockholder approval in July 2024, on July 30, 2024, the Company filed an Amendment to the Certificate of Incorporation with the Secretary of State of Delaware to effect the 1:12 Reverse Stock Split of the issued and outstanding shares of the Company’s common stock, which was effective as of August 12, 2024. As of the effective time of the 1:12 Reverse Stock Split, every twelve (12) issued and outstanding shares of the Company’s common stock were automatically combined and converted into one (1) issued and outstanding share of the Company’s common stock, reducing the number of shares of common stock outstanding from 21,219,937 shares to 1,768,337 shares (not including the effects of the 1:5 Reverse Stock Split or the 1:4 Reverse Stock Split discussed below). No fractional shares of common stock were issued in connection with the Reverse Stock Split and all fractional shares were rounded up to the nearest whole share with respect to outstanding shares of common stock. The Company issued an additional 4,675 shares of common stock on August 19, 2024 for rounding due to fractional shares (93,563 not including the effects of the 1:5 Reverse Stock Split or the 1:4 Reverse Stock Split discussed below).

Following stockholder approval in November 2024, on February 18, 2025, the Company filed an additional Amendment to the Certificate of Incorporation with the Secretary of State of Delaware to effect the 1:5 Reverse Stock Split of the issued and outstanding shares of the Company’s common stock, which was effective as of February 24, 2025. As of the effective time of the 1:5 Reverse Stock Split, every five (5) issued and outstanding shares of the Company’s common stock were automatically combined and converted into one (1) issued and outstanding share of the Company’s common stock, reducing the number of shares of common stock outstanding from 7,364,554 shares to 1,472,891 shares (not including the effects of the 1:4 Reverse Stock Split discussed below). No fractional shares of common stock were issued in connection with the 1:5 Reverse Stock Split. All fractional shares were rounded up to the nearest whole share with respect to outstanding shares of common stock.

Following stockholder approval in October 2025, on January 14, 2026, the Company filed an additional Amendment to the Certificate of Incorporation with the Secretary of State of Delaware to effect the 1:4 Reverse Stock Split of the issued and outstanding shares of the Company’s common stock, which was effective as of January 20, 2026. As of the effective time of the 1:4 Reverse Stock Split, every four (4) issued and outstanding shares of the Company’s common stock were automatically combined and converted into one (1) issued and outstanding share of the Company’s common stock, reducing the number of shares of common stock outstanding from 5,436,441 shares to 1,359,091 shares. No fractional shares of common stock were issued in connection with the 1:4 Reverse Stock Split. All fractional shares were rounded up to the nearest whole share with respect to outstanding shares of common stock. See Note 12 – Subsequent Events.

The Reverse Stock Splits did not change the authorized number of shares of common stock or preferred stock, the par value of the common stock, or the number of issued and outstanding shares of Series A Preferred Stock. All references to numbers of shares of the Company’s common stock and per share information in these consolidated financial statements have been retroactively adjusted, as appropriate, to reflect the Reverse Stock Splits, including reclassifying an amount equal to the reduction in par value of common stock to additional paid-in capital.

Common Stock

January 2024 Offering

On January 29, 2024, the Company, entered into an Underwriting Agreement with WallachBeth Capital LLC, relating to the Company’s public offering (the “January 2024 Offering”) of 21,921 units at an offering price of $92.40 per unit and 4,164 pre-funded units at an offering price of $90.00 per pre-funded unit. Each unit consisted of one share of common stock and one warrant exercisable for one share of common stock (the “January 2024 Warrants”). Each pre-funded unit consists of one pre-funded warrant exercisable for one share of common stock (the “January 2024 Pre-Funded Warrants”) and one warrant identical to the January 2024 Warrants included in the units. The January 2024 Pre-Funded Warrants have an exercise price of $2.40 per share, were immediately exercisable beginning on January 31, 2024 until exercised in full. The January 2024 Warrants have an exercise price of $101.64 per share and are exercisable beginning on January 31, 2024 until January 31, 2029.

The Company granted WallachBeth Capital LLC a 45-day over-allotment option to purchase up to 3,289 shares of the Company’s common stock at a price of $92.40 per share and/or 3,913 January 2024 Warrants at a price of $2.40 per warrant and/or 625 January 2024 Pre-Funded Warrants at a price of $90.00 per pre-funded warrant, or any combination thereof, in all cases less the underwriting discount. WallachBeth Capital LLC partially exercised its over-allotment option with respect to 3,410 January 2024 Warrants on January 31, 2024, and purchased an additional one share of common stock at a purchase price of $90.00 per share and one January 2024 Warrant at a purchase price of $2.40 per warrant on February 14, 2024.

The Company also issued to WallachBeth Capital LLC warrants (the “January 2024 Representative Warrants”) to purchase 1,565 shares of the Company’s common stock at an exercise price of $101.64 per share. The January 2024 Representative Warrants are exercisable beginning on January 31, 2024 until January 31, 2029.

The units and pre-funded units were offered and sold pursuant to the Company’s Registration Statement on Form S-1 (File No. 333-276641), declared effective by the SEC on January 29, 2024. The closing of the January 2024 Offering occurred on January 31, 2024, generating net proceeds to the Company of approximately $1.9 million, after deducting underwriting discounts and commissions and the payment of other offering expenses payable by the Company of approximately $510,000.

2024 ATM Agreement

On July 12, 2024, the Company entered into an At-the-Market Issuance Sales Agreement (the “2024 ATM Agreement”) with WallachBeth Capital LLC as sales agent, to sell shares of common stock having an aggregate offering price of up to $1,253,603 from time to time, through an “at the market offering” program (the “2024 ATM Offering”). The offer and sale of shares of common stock from the ATM Offering were made pursuant to the Company’s shelf registration statement on Form S-3 and accompanying base prospectus (Registration Statement No. 333-280796) contained therein which became effective on July 18, 2024. The prospectus supplement was subsequently amended four times to increase the maximum aggregate offering price under the ATM Agreement. From July 19, 2024 to August 1, 2024, the Company sold a total of 33,897 shares in the ATM Offering for gross proceeds of $1,994,583. The Company and Wallachbeth Capital LLC entered into a Waiver and Termination Agreement, agreeing to terminate the 2024 ATM Agreement effective September 3, 2025.

January 2025 Offering

On January 28, 2025, the Company entered into a securities purchase agreement with certain institutional investors pursuant to which the Company sold, in a registered direct offering priced at-the-market under the rules of Nasdaq, an aggregate of 51,079 shares of common stock at a purchase price of $20.42 per share. The shares were offered pursuant to a “shelf” registration statement on Form S-3 (Registration No. 333-280796). In a concurrent private placement, the Company also issued to the investors unregistered warrants (the “January 2025 Warrants”) to purchase up to an aggregate of 102,158 shares of common stock at an exercise price of $15.42 per share. The January 2025 Warrants are exercisable upon issuance, or January 30, 2025, and expire twenty-four months from the date of issuance, or January 30, 2027. The registered direct offering and concurrent private placement (together, the “January 2025 Offering”) closed on January 30, 2025, resulting in net proceeds to the Company of approximately $804,346, after deducting the placement agent fees and other offering expenses paid by the Company.

As compensation for acting as the placement agent for the January 2025 Offering, in addition to certain cash fees, the Company issued H.C. Wainwright & Co., LLC (the “Placement Agent”) warrants to purchase up to 3,833 shares of common stock at an exercise price of $25.53 (the “January 2025 Agent Warrants”). The January 2025 Agent Warrants were exercisable upon issuance and expire twenty-four months from the date of issuance.

February 2025 Offering

On February 5, 2025, the Company entered into a securities purchase agreement with certain institutional investors pursuant to which the Company sold, in a registered direct offering priced at-the-market under the rules of Nasdaq, an aggregate of 75,176 shares of the Company’s common stock at a purchase price of $14.30 per share. In a concurrent private placement, the Company separately issued to the investors unregistered warrants to purchase up to an aggregate of 75,176 shares of common stock at an exercise price of $11.80 per share (the “February 2025 Warrants”). The February 2025 Warrants were immediately exercisable upon issuance and expire twenty-four months from the date of issuance. The registered direct offering and concurrent private placement (together, the “February 2025 Offering”) closed on February 6, 2025, resulting in net proceeds to the Company of approximately $908,627, after deducting the placement agent fees and other offering expenses paid by the Company.

As compensation for acting as the placement agent for the February 2025 Offering, in addition to certain cash fees, the Company issued the Placement Agent warrants to purchase up to 5,640 shares of common stock at an exercise price of $17.88 (the “February 2025 Agent Warrants”). The February 2025 Agent Warrants were exercisable upon issuance and expire twenty-four months from the date of issuance.

July 2025 Offering

On July 15, 2025, the Company entered into a securities purchase agreement with certain institutional investors pursuant to which the Company sold, in a registered direct offering (the “July 2025 Offering”), 438,332 units at an offering price of $7.60 per unit and 219,569 pre-funded units at an offering price of $7.596 per pre-funded unit. Each unit consisted of (i) one share of common stock, (ii) one series A-1 warrant exercisable for one share of common stock (the “July 2025 A-1 Warrants”), and (iii) one series A-2 warrant exercisable for one share of common stock (the “July 2025 A-2 Warrants” and together with the July 2025 A-1 Warrants, the “July 2025 Warrants”). Each pre-funded unit consists of one pre-funded warrant exercisable for one share of common stock (the “July 2025 Pre-Funded Warrants”) and warrants identical to the July 2025 Warrants included in the units. The July 2025 Pre-Funded Warrants have an exercise price of $0.004 per share, and were immediately exercisable beginning on July 16, 2025 until exercised in full. The July 2025 A-1 Warrants have an exercise price of $7.60 per share and are exercisable beginning on July 16, 2025 until July 15, 2030. The July 2025 A-2 Warrants have an exercise price of $7.60 per share and are exercisable beginning on July 16, 2025 until January 15, 2027.

As compensation for acting as the placement agent for the July 2025 Offering, the Company also issued to H.C. Wainwright & Co., LLC warrants (the “July 2025 Placement Agent Warrants”) to purchase up to 49,342 shares of common stock. The July 2025 Placement Agent Warrants have an exercise price equal to $9.50 per share and are exercisable upon issuance, or July 16, 2025, and expire five years from the date of issuance, or July 15, 2030.

The July 2025 Offering was made pursuant to the Company’s registration statement on Form S-1 (File No. 333-288550), which was declared effective by the Securities and Exchange Commission (the “SEC”) on July 15, 2025, and the final prospectus, which was filed with the SEC on July 16, 2025. The Offering closed on July 16, 2025, resulting in net proceeds to the Company of approximately $4,281,300, after deducting placement agent fees and other offering expenses paid by the Company.

2025 ATM Agreement

On September 5, 2025, the Company entered into an At-The-Market Sales Agreement (the “2025 ATM Agreement”) with H.C. Wainwright & Co., LLC (“Wainwright”) pursuant to which the Company may, from time to time, offer and sell shares of its common stock, having aggregate gross sales proceeds of up to $1,397,532 (the “2025 ATM Offering”). As compensation for acting as the sales agent for the 2025 ATM Offering, Wainwright will be entitled to a commission of 3.0% of the gross proceeds from sales of shares in the 2025 ATM Offering.

The common stock under the 2025 ATM Agreement was issued and sold pursuant to the Company’s shelf registration statement on Form S-3 and accompanying base prospectus (Registration Statement No. 333-280796), which was declared effective by the SEC on July 18, 2024, and a prospectus supplement dated September 5, 2025 relating to the offer and sale of the shares pursuant to the 2025 ATM Agreement. As of December 31, 2025, 136,991 shares were issued under the 2025 ATM Agreement, resulting in net proceeds of $405,114, after deducting the placement agent fees and other offering expenses paid by the Company. See Note 12 – Subsequent Events.

Preferred Stock Conversions

During the years ended December 31, 2025 and 2024, the Company converted an aggregate of 0 and 2,323 shares of Series A Preferred Stock, respectively, held by Knight Therapeutics Inc. into 0 and 3,667 shares of common stock, respectively.

Warrant Exercises

During the year ended December 31, 2025, the Company issued 315,869 shares of common stock upon the exercise of 315,869 pre-funded warrants, resulting in aggregate cash proceeds to the Company of $2,804. During the year ended December 31, 2024, the Company issued 52,792 shares of common stock upon the exercise of 52,792 pre-funded warrants, resulting in aggregate cash proceeds to the Company of $10,963.

Other Events

On April 1, 2024, the Company entered into an Amendment to the Debt Exchange Agreement with Trevally, LLC (“Trevally”), which amends the original agreement with Trevally (executed in January 2023). Pursuant to the Amendment, Trevally agreed to return 500 shares of the Company’s common stock, initially issued to Trevally in January 2023 as advance consideration for agreeing to complete the synthesis of research materials for the Company. Trevally returned the previously issued shares for no consideration on April 3, 2024. Trevally delivered the completed research materials to the Company on July 1, 2024.

Common Stock Warrants

As of December 31, 2025 and 2024, the Company accounts for all issued and outstanding warrants to purchase common stock as equity-classified instruments based on the guidance in ASC 480 and ASC 815.

September 2024 Private Placement

On September 4, 2024, the Company entered into a Securities Purchase Agreement with an institutional investor, agreeing to issue and sell in a private placement offering (the “Private Placement”) (i) pre-funded warrants to purchase 144,928 shares of common stock (the “September 2024 Pre-Funded Warrants”), (ii) series A warrants to purchase 144,928 shares of common stock (the “Series A Warrants”), and (iii) series B warrants to purchase 144,928 shares of common stock (the “Series B Warrants) at a price of $27.60 per Pre-Funded Warrant and accompanying Series A and Series B Warrants. The Private Placement closed on September 5, 2024, generating net proceeds to the Company of $3,414,502, after deducting placement agent fees and offering expenses.

The September 2024 Pre-Funded Warrants have an exercise price of $0.02 per share and were immediately exercisable on September 5, 2024 and may be exercised at any time until exercised in full. The Series A and Series B Warrants have an exercise price of $27.60 per share and were exercisable beginning on the effective date of stockholder approval to approve the issuance of the shares underlying the Series A and Series B Warrants and the September 2024 Agent Warrants, defined below, to comply with applicable listing rules and regulations of the Nasdaq Stock Market (“Stockholder Approval”), which was later received on November 6, 2024 (the “Stockholder Approval Date”). The Series A Warrants expire five years after the Stockholder Approval Date or November 6, 2029, and the Series B Warrants will expire 18 months after the Stockholder Approval Date, or May 6, 2026.

As compensation for acting as the placement agent for the Private Placement, the Company issued to H.C. Wainwright & Co., LLC warrants to purchase up to 10,870 shares of stock (the “September 2024 Agent Warrants”). The September 2024 Agent Warrants have substantially the same terms as the Series A Warrants, except that the September 2024 Agent Warrants have an exercise price equal to $34.50 per share.

The following table presents a summary of the activity for the Company’s equity-classified warrants during the year ended December 31, 2024:

	Number of Warrants	Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (Years)
Total outstanding, December 31, 2023	13,190	$	1,479.86	4.47
Granted(1)	480,879		24.01	3.47
Exercised	(52,792)		0.21	Indefinite
Forfeited	-		-	-
Expired	-		-	-
Total outstanding, December 31, 2024(1)	441,277	$	70.37	3.26
Total exercisable, December 31, 2024(1)	441,277	$	70.37	3.26

(1)

During the year ended December 31, 2024, the Company received aggregate cash proceeds of $10,963 upon the exercise of 4,164 January 2024 Pre-Funded Warrants and 48,628 September 2024 Pre-Funded Warrants.

The following table presents a summary of the activity for the Company’s equity-classified warrants during the year ended December 31, 2025:

	Number of Warrants	Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (Years)
Total outstanding, December 31, 2024(1)	441,277	$	70.37	3.26
Granted(2)	1,771,520		7.41	2.76
Exercised	(315,869)		0.009	Indefinite
Forfeited	-		-	-
Expired	-		-	-
Total outstanding, December 31, 2025	1,896,928	$	23.29	2.57
Total exercisable, December 31, 2025	1,896,928	$	23.29	2.57

(1)	Weighted average remaining contractual life at December 31, 2024 excludes 96,300 Pre-Funded Warrants issued September 2024 that do not have a contractual expiration date, for which 0 warrants remain outstanding and exercisable at December 31, 2025.
(2)	Weighted average remaining contractual life excludes 219,569 Pre-Funded Warrants issued July 2025 that do not have a contractual expiration date, for which 0 warrants remain outstanding and exercisable at December 31, 2025.

During the year ended December 31, 2025, the Company received aggregate cash proceeds of $2,804 upon the exercise of 96,300 September 2024 Pre-Funded Warrants and 219,569 July 2025 Pre-Funded Warrants.

	2025			2024
Stock price	$	6.56 - 16.00		$	28.80 - 67.20
Exercise price	$	7.60 - 25.53		$	27.60 - 101.64
Risk-free interest rate		3.98% - 4.21	%		3.54% - 3.98	%
Expected volatility		95.00	%		95.00	%
Expected term (years)		1.50 - 5.00			1.50 - 5.00
Expected dividend yield		0.00	%		0.00	%

Series A Preferred Stock

As described in Note 8, as a result of the completion of the IPO and as required under the terms of the Knight Debt Conversion Agreement, the Company converted the entirety of the accumulated interest on the Convertible Knight Loan as of March 31, 2022 into 80,965 shares of Series A Preferred Stock. During the years ended December 31, 2025 and 2024, the Company converted an aggregate of 0 and 2,323 shares of Series A Preferred Stock, respectively, into 0 and 3,667 shares of common stock, respectively, at the applicable conversion rate detailed below.

The holders of shares of Series A Preferred Stock have the rights, preferences, powers, restrictions and limitations as set forth below.

Voting Rights - The holders of shares of Series A Preferred Stock are not entitled to any voting rights.

Dividends - From and after the date of issuance of any share of Series A Preferred Stock, cumulative dividends shall accrue, whether or not declared by the Board and whether or not there are funds legally available for the payment of dividends, on a daily basis in arrears at the rate of 6.0% per annum on the sum of the Liquidation Value (as defined below). Accrued dividends shall be paid in cash only when, as and if declared by the Board out of funds legally available therefor or upon a liquidation or redemption of the Series A Preferred Stock. On March 31 of each calendar year, any accrued and unpaid dividends shall accumulate and compound on such date and are cumulative until paid or converted. Holders of shares of Series A Preferred Stock are entitled to receive accrued and accumulated dividends prior to and in preference to any dividend, distribution, or redemption on shares of Common Stock or any other class of securities that is designated as junior to the Series A Preferred Stock. During the year ended December 31, 2024, accrued dividends on outstanding shares of Series A Preferred Stock totaled $483,301. During the year ended December 31, 2025, dividends in the amount of $501,056 accrued on outstanding shares of Series A Preferred Stock. As of December 31, 2025, cumulative dividends on outstanding shares of Series A Preferred Stock amount to $1,205,071. To date, the Company has not declared or paid any dividends.

Liquidation Rights - In the event of any voluntary or involuntary liquidation, dissolution or winding up of the Company, the holders of shares of Series A Preferred Stock then outstanding will share ratably in any distribution of the remaining assets and funds of the Company with all other stockholders as if each share of Series A Preferred Stock had been converted by the Company to Common Stock as described below.

Conversion Rights - The Company has the right, in its sole discretion, to convert all or any portion of the outstanding shares of Series A Preferred Stock (including any fraction of a share), plus the aggregate accrued or accumulated and unpaid dividends thereon into a number of shares of Common Stock determined by (i) multiplying the number of shares to be converted by $100 per share, as adjusted for any stock splits, stock dividends, recapitalizations or similar transactions with respect to the Series A Preferred Stock (but unchanged as a result of the Reverse Stock Splits impacting the common stock on August 12, 2024, February 24, 2025, and January 20, 2026) (the “Liquidation Value”), (ii) plus all accrued and accumulated and unpaid dividends on such shares to be converted, and then (ii) dividing the result by the then-effective Conversion Price in effect, provided that such conversion would not result in the holders of shares of Series A Preferred Stock owning more than 19.9% of the outstanding shares of common stock on an as-converted basis. The “Conversion Price” is equal to the lesser of (a) the Liquidation Value, (b) the offering price per share of Common Stock in the Company’s IPO, or $1,200 per share, as adjusted for the Reverse Stock Splits, or (c) the 10-day volume weighted average price per share of Common Stock, as reasonably determined by the Company.

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-8A

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

INCOME TAXES

12 Months Ended

Dec. 31, 2025

INCOME TAXES

INCOME TAXES

9. INCOME TAXES

Loss before provision (benefit) for income taxes for the years ended December 31, 2025 and 2024 consisted of the following:

	For the Year Ended December 31,
	2025		2024
United States	$	(6,908,764)	$	(7,372,282)
Foreign		(459,561)		(583,381)
Total Loss before Income Taxes	$	(7,368,325)	$	(7,955,663)

The components of the provision (benefit) for income taxes consisted of the following:

	For the Year Ended December 31,
	2025		2024
Current:
Federal	$	-	$	-
State		-		-
Foreign		-		-
Total current provision (benefit)		-		-
Deferred:
Federal		-		-
State		-		-
Foreign		-		-
Total deferred provision (benefit)		-		-
Total Benefit	$	-	$	-

The reconciliation between income taxes computed at the U.S. statutory income tax rate to the Company’s provision (benefit) for income taxes for the year ended December 31, 2025, after the adoption of ASU 2023-09, is as follows:

	For the Year Ended December 31,
	2025
Benefit for income taxes at 21% rate	$	(1,547,348)	21.0	%
State income taxes, net of federal benefit		-	0.0
Foreign tax effects
Australia
Change in valuation allowance		88,925	(1.2)
Other items		7,582	(0.1)
Non-taxable or non-deductible items		(63,020)	0.9
Stock-based compensation		45,544	(0.6)
Tax credits		(90,670)	1.2
Change in valuation allowance		1,558,987	(21.2)
Other items		-	-
Benefit for Income Taxes	$	-	0.0	%

The reconciliation between income taxes computed at the U.S. statutory income tax rate to the Company’s provision (benefit) for income taxes for the year ended December 31, 2024, before the adoption of ASU 2023-09, is as follows:

	For the Year Ended December 31,
	2024
Benefit for income taxes at 21% rate	$	(1,670,637)	21.0	%
State income taxes, net of federal benefit		(588,221)	7.4
Tax credits		(437,296)	5.5
Impact of non-U.S. earnings		(22,103)	0.3
Permanent differences		(347,008)	4.4
Other reconciling items, net		30,411	(0.4)
Change in valuation allowance		3,034,854	(38.1)
Benefit for Income Taxes	$	-	0.00	%

Significant components of the Company’s deferred tax assets (liabilities) as of December 31, 2025 and 2024 are as follows:

	As of December 31,
	2025		2024
Deferred tax assets:
Net operating loss carry-forward	$	6,557,593	$	4,191,575
Tax credits		527,966		437,296
Non-deductible reserves		75,213		44,733
Capitalized R&D costs		975,924		1,268,685
Share-based compensation		58,890		41,830
Other temporary differences		1,374		-
Gross deferred tax assets		8,196,960		5,984,119
Less valuation allowance		(8,151,443)		(5,915,350)
Total deferred tax assets, net of valuation allowance		45,517		68,769
Deferred tax liabilities:
Fixed asset depreciation		(10,865)		(2,783)
Prepaid expenses		(34,652)		(65,986)
Total deferred tax liabilities		(45,517)		(68,769)
Net deferred tax liabilities	$	-	$	-

The valuation allowance increased by $2,236,093 during 2025. In determining the need for a valuation allowance, the Company has given consideration to its worldwide cumulative loss position when assessing the weight of the sources of taxable income that can be used to support the realization of deferred tax assets. The Company has assessed, on a jurisdictional basis, the available means of recovering deferred tax assets, including the ability to carry-back net operating losses, the existence of reversing temporary differences, the availability of tax planning strategies and available sources of future taxable income. The Company has determined that it is more likely than not that the Company will not recognize the benefits of the U.S. Federal, state and net deferred tax assets, and, as a result, a full valuation allowance has been set against its net deferred tax assets as of December 31, 2025 and December 31, 2024.

At December 31, 2025, the Company had U.S. federal and state net operating loss carryforwards of approximately $17,028,834 and $17,026,834 respectively, and U.S. federal tax credits of $527,966. At December 31, 2024, the Company had U.S. federal and state net operating loss carryforwards of approximately $9,235,194 and $9,234,194 respectively, and U.S. federal tax credits of $437,296. The U.S. federal and state net operating losses carryforward indefinitely but may only be used to offset 80% of annual taxable income due to the Tax Cuts and Jobs Act. The U.S. federal tax credits begin to expire in 2042. The Company had $7,487,256 and $6,601,381 of foreign net operating loss carryforwards which carryforward indefinitely at December 31, 2025 and December 31, 2024, respectively.

Utilization of the NOL carryforwards may be subject to limitation under Section 382 of the Internal Revenue Code of 1986 due to ownership change limitations that have occurred previously or that could occur in the future. These ownership changes may limit the amount of NOL and interest limitation carryforwards that can be utilized annually to offset future taxable income and tax, respectively. There could be additional ownership changes in the future, which may result in additional limitations on the utilization of the NOL and tax credit carryforwards.

The Company conducts business globally and, as a result, it files income tax returns in U.S. federal and state jurisdictions and in Australia. In the normal course of business, the Company may be subject to examination by taxing authorities throughout the world. The tax years that remain subject to examination by major tax jurisdictions include the years ended December 31, 2022, 2023, 2024 and 2025. As of December 31, 2025, the Company is not under income tax examination in any jurisdiction.

During the ordinary course of business, there are many transactions and calculations for which the ultimate tax determination is uncertain. The Company establishes reserves for tax-related uncertainties based on estimates of whether, and the extent to which, additional taxes will be due. These reserves are established when the Company believes that certain positions might be challenged despite its belief that its tax return positions are fully supportable. The Company adjusts these reserves in light of changing facts and circumstances, such as the outcome of tax examinations. As of December 31, 2025 and December 31, 2024, no reserves for uncertain tax positions have been established.

The Company recognizes interest and penalties accrued related to unrecognized tax benefits as income tax expense. During the years ended December 31, 2025 and December 31, 2024 the Company did not recognize interest and penalties related to unrecognized tax benefits.

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 740
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477617/942-740-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
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-Name Accounting Standards Codification
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-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480738/235-10-S50-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478822/944-740-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

Reference 5: http://www.xbrl.org/2003/role/exampleRef
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-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Paragraph 12C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12C

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-Section S99
-Paragraph 1
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/740/tableOfContent

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

INVENTORY (Tables)

12 Months Ended

Dec. 31, 2025

INVENTORY

Schedule of Inventory

Inventory consists of the following major classes:

	December 31, 2025		December 31, 2024
Raw Material (API)	$	75,662	$	-
Work in Process		446,957		284,883
Finished Goods		385,982		157,881
Inventory before Allowance		908,601		442,764
Reserve for Expiring Inventory		(251,677)		-
Inventory	$	656,924	$	442,764

PROPERTY AND EQUIPMENT

12 Months Ended

Dec. 31, 2025

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT

4. PROPERTY AND EQUIPMENT

As of December 31, 2025 and 2024, Property and Equipment, net consists of:

	December 31, 2025		December 31, 2024
Lab Equipment	$	366,791	$	233,411
Machinery		55,800		55,800
Computer Equipment		11,598		7,000
Furniture		3,030		3,030
Property and Equipment, at cost		437,219		299,241
Accumulated Depreciation		(190,854)		(149,433)
Property and Equipment, Net	$	246,365	$	149,808

Depreciation expenses for the years ended December 31, 2025 and 2024 were in the amount of $43,324 and $11,726, respectively.

STOCKHOLDERS' EQUITY - Schedule of Assumptions Used In Determining the Fair Value of Equity-Classified Warrants Granted (Details) - $ / shares	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Schedule of Assumptions Used In Determining the Fair Value of Equity-Classified Warrants Granted [Line Items]
Expected dividend yield	0.00%	0.00%
Warrant [Member]
Schedule of Assumptions Used In Determining the Fair Value of Equity-Classified Warrants Granted [Line Items]
Expected volatility	95.00%	95.00%
Expected dividend yield	0.00%	0.00%
Minimum [Member] \| Warrant [Member]
Schedule of Assumptions Used In Determining the Fair Value of Equity-Classified Warrants Granted [Line Items]
Stock price (in Dollars per share)	$ 6.56	$ 28.8
Exercise price (in Dollars per share)	$ 7.6	$ 27.6
Risk-free interest rate	3.98%	3.54%
Expected term (years)	1 year 6 months	1 year 6 months
Maximum [Member] \| Warrant [Member]
Schedule of Assumptions Used In Determining the Fair Value of Equity-Classified Warrants Granted [Line Items]
Stock price (in Dollars per share)	$ 16	$ 67.2
Exercise price (in Dollars per share)	$ 25.53	$ 101.64
Risk-free interest rate	4.21%	3.98%
Expected term (years)	5 years	5 years

SHARE-BASED COMPENSATION - Schedule of Stock Option Activities (Details) - USD ($)			12 Months Ended
	Sep. 26, 2024	Jul. 16, 2024	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Share-Based Compensation [Line Items]
Number of Options, Granted	1,042	3,212
Equity Option [Member]
Share-Based Compensation [Line Items]
Number of Options, Options outstanding			4,414	160
Weighted Average Exercise Price, Options outstanding			$ 257.15	$ 1,272
Aggregate Intrinsic Value, Options outstanding			$ 0	$ 0
Weighted Average Remaining Contractual Life, Options outstanding				9 years 4 months 17 days	4 years 6 months 10 days
Number of Options, Granted			38,000	4,254
Weighted Average Exercise Price, Granted			$ 21.91	$ 218.98
Aggregate Intrinsic Value, Granted			$ 0	$ 0
Weighted Average Remaining Contractual Life, Granted			7 years	10 years
Number of Options, Exercised			0	0
Weighted Average Exercise Price, Exercised			$ 0	$ 0
Aggregate Intrinsic Value, Exercised			$ 0	$ 0
Number of Options, Forfeited			0	0
Weighted Average Exercise Price, Forfeited			$ 0	$ 0
Aggregate Intrinsic Value, Forfeited			$ 0	$ 0
Number of Options, Expired			0	0
Weighted Average Exercise Price, Expired			$ 0	$ 0
Aggregate Intrinsic Value, Expired			$ 0	$ 0
Number of Options, Options outstanding,			42,414	4,414	160
Weighted Average Exercise Price, Options outstanding			$ 46.39	$ 257.15	$ 1,272
Aggregate Intrinsic Value, Options outstanding,			$ 0	$ 0	$ 0
Weighted Average Remaining Contractual Life, Options outstanding,			6 years 4 months 28 days	9 years 4 months 17 days
Number of Options, Options vested and exercisable			21,940	1,114
Weighted Average Exercise Price, Options vested and exercisable			$ 47.18	$ 466.91
Aggregate Intrinsic Value, Options vested and exercisable			$ 0	$ 0
Weighted Average Remaining Contractual Life, Options vested and exercisable			6 years 5 months 26 days	8 years 8 months 23 days

Audit Information	12 Months Ended
Audit Information	Dec. 31, 2025
Auditor [Line Items]
Auditor Name	RBSM LLP
Auditor Firm ID	587
Auditor Location	Las Vegas, Nevada
Auditor Opinion [Text Block]	We have audited the accompanying consolidated balance sheets of 60 Degrees Pharmaceuticals, Inc. and subsidiary (“the Company”) as of December 31, 2025 and 2024, and the related statements of operations and comprehensive loss, shareholders’ equity, and cash flows for each of the years in the two-year period ended December 31, 2025, and the related notes (collectively referred to as the financial statements). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2025 and 2024, and the results of its operations and its cash flows for each of the years in the two-year period ended December 31, 2025, in conformity with accounting principles generally accepted in the United States of America.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($)						1 Months Ended			12 Months Ended
	Jan. 20, 2026	Jan. 14, 2026	Oct. 08, 2025	Feb. 24, 2025	Aug. 12, 2024	Oct. 31, 2025	Nov. 30, 2024	Jul. 31, 2024	Dec. 31, 2025	Dec. 31, 2024
Summary of Significant Accounting Policies [Line Items]
Reverse stock split				1:5	1:12	Following stockholder approval in October 2025, the Company effected an additional reverse stock split at a ratio of 1:4 (the “1:4 Reverse Stock Split” and together with the 1:12 Reverse Stock Split and the 1:5 Reverse Stock Split, the “Reverse Stock Splits”), which was effective January 20, 2026 (See Note 12 – Subsequent Events).	Following stockholder approval in November 2024, the Company effected an additional reverse stock split at a ratio of 1:5 (the “1:5 Reverse Stock Split), which was effective as of February 24, 2025	Following stockholder approval in July 2024, the Company effected a reverse stock split at a ratio of 1:12 (the “1:12 Reverse Stock Split”), which was effective as of August 12, 2024
FDIC insurable amount (in Dollars)									$ 250,000
Inventory write-downs (in Dollars)									445,181	$ 22,046
Cash equivalents and short-term (in Dollars)									2,750,786	3,387,825
Research and development (in Dollars)									$ 2,106,156	4,986,526
Website development costs amortization period									3 years
Reserve for uncertain tax positions									$ 0	$ 0
Financial instrument transfers									0
Expected dividend yield									$ 0
Subsequent Event [Member]
Summary of Significant Accounting Policies [Line Items]
Reverse stock split	1:4	1:4
60P Australia Pty Ltd [Member]
Summary of Significant Accounting Policies [Line Items]
Percentage of owned equity									100.00%
Minimum [Member]
Summary of Significant Accounting Policies [Line Items]
Reverse stock split			1:3
Patent amortisation period									10 years
Maximum [Member]
Summary of Significant Accounting Policies [Line Items]
Reverse stock split			1:10
Patent amortisation period									15 years
American Pharmaceutical Distributor [Member]
Summary of Significant Accounting Policies [Line Items]
Percentage of accounts receivable									97.00%	95.00%
60P Australia Pty Ltd [Member]
Summary of Significant Accounting Policies [Line Items]
Ownership percentage									96.61%
Customer One [Member] \| Customer Concentration Risk [Member] \| Revenue Benchmark [Member]
Summary of Significant Accounting Policies [Line Items]
Concentration percentage									10.00%	95.00%
Customer One [Member] \| Customer Concentration Risk [Member] \| Accounts Receivable [Member]
Summary of Significant Accounting Policies [Line Items]
Concentration percentage										95.00%
Significant Customer One [Member] \| Customer Concentration Risk [Member] \| Accounts Receivable [Member]
Summary of Significant Accounting Policies [Line Items]
Concentration percentage									97.00%
Significant Customer Two [Member] \| Customer Concentration Risk [Member] \| Revenue Benchmark [Member]
Summary of Significant Accounting Policies [Line Items]
Concentration percentage									92.00%

INCOME TAXES (Details) - USD ($)	12 Months Ended
INCOME TAXES (Details) - USD ($)	Dec. 31, 2025	Dec. 31, 2024
INCOME TAXES
Valuation allowance	$ 2,236,093
U.S. federal net operating loss carryforwards	17,028,834	$ 9,235,194
State net operating loss carryforwards	17,026,834	9,234,194
U.S. federal tax credits	$ 527,966	437,296
Percentage of annual taxable income	80.00%
Foreign net operating loss carryforwards	$ 7,487,256	$ 6,601,381

SHARE-BASED COMPENSATION (Details)							1 Months Ended	12 Months Ended
SHARE-BASED COMPENSATION (Details)	Oct. 21, 2025 NUMBER $ / shares shares	Jan. 20, 2025 shares	Jan. 02, 2025 shares	Sep. 26, 2024 shares	Jul. 16, 2024 shares	Jan. 01, 2023	Dec. 31, 2024 USD ($) NUMBER shares	Dec. 31, 2025 USD ($) shares	Dec. 31, 2024 USD ($) NUMBER shares	Oct. 08, 2025 shares	Nov. 06, 2024 shares
Share-Based Compensation [Line Items]
Percentage of outstanding shares of common stock						4.00%
Remaining shares available for issuance (in Shares)					20,834					62,500	25,000
Compensation expense \| $								$ 456,344	$ 3,608,648
Common stock, shares issued (in Shares)							141,749	1,163,142	141,749
Granted stock option (in Shares)				1,042	3,212
Weighted-average period								3 years
Cash \| $							$ 20,000		$ 20,000
Share-based liability amount \| $							121,544		121,544
Long-Term Prepaid Expense \| $							$ 66,176	$ 0	$ 66,176
Shares payroll tax withholdings (in Shares)		688
Unamortized balance of prepaid assets \| $								195,887
Unamortized balance of prepaid assets recognized ratably over remaining service period \| $								66,177
Unamortized balance of prepaid assets remaining balance recognized as research and development services \| $								$ 129,710
Director [Member]
Share-Based Compensation [Line Items]
Number of directors								4
Two Thousand Twenty Two Equity Incentive Plan [Member]
Share-Based Compensation [Line Items]
Remaining shares available for issuance (in Shares)								68,760
Stock Options [Member]
Share-Based Compensation [Line Items]
Stock option granted term								five to ten years
Number of Options, Exercised								0
Number of Options, Forfeited								0
Number of Options, Expired								0
Stock Options [Member] \| Director [Member]
Share-Based Compensation [Line Items]
Granted stock option (in Shares)	8,000
Number of directors \| NUMBER	4
Per share exercise price (in dollars per share) \| $ / shares	$ 5.84
Stock option term	7 years
Stock Options [Member] \| Director One [Member]
Share-Based Compensation [Line Items]
Granted stock option (in Shares)	2,000
Stock Options [Member] \| Executive [Member]
Share-Based Compensation [Line Items]
Granted stock option (in Shares)			30,000				30,000
Number of director nominees \| NUMBER							2		2
Share-Based Payment Arrangement, Option [Member]
Share-Based Compensation [Line Items]
Compensation expense \| $								$ 279,873	$ 32,767
Unrecognized share-base compensation \| $								415,553
Research and Development Expense [Member]
Share-Based Compensation [Line Items]
Compensation expense \| $								$ 0	$ 3,227,300
Common Stock [Member]
Share-Based Compensation [Line Items]
Issuance of shares for annual performance bonuses, net of shares withheld for taxes (in Shares)		3,953

INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2025

INCOME TAXES

Schedule of Loss Before Provision (benefit) for Income Taxes

Loss before provision (benefit) for income taxes for the years ended December 31, 2025 and 2024 consisted of the following:

	For the Year Ended December 31,
	2025		2024
United States	$	(6,908,764)	$	(7,372,282)
Foreign		(459,561)		(583,381)
Total Loss before Income Taxes	$	(7,368,325)	$	(7,955,663)

Schedule of Components of the Provision (benefit) for Income Taxes

The components of the provision (benefit) for income taxes consisted of the following:

	For the Year Ended December 31,
	2025		2024
Current:
Federal	$	-	$	-
State		-		-
Foreign		-		-
Total current provision (benefit)		-		-
Deferred:
Federal		-		-
State		-		-
Foreign		-		-
Total deferred provision (benefit)		-		-
Total Benefit	$	-	$	-

Schedule of Income Taxes Computed at the U.S. Statutory Income Tax

	For the Year Ended December 31,
	2025
Benefit for income taxes at 21% rate	$	(1,547,348)	21.0	%
State income taxes, net of federal benefit		-	0.0
Foreign tax effects
Australia
Change in valuation allowance		88,925	(1.2)
Other items		7,582	(0.1)
Non-taxable or non-deductible items		(63,020)	0.9
Stock-based compensation		45,544	(0.6)
Tax credits		(90,670)	1.2
Change in valuation allowance		1,558,987	(21.2)
Other items		-	-
Benefit for Income Taxes	$	-	0.0	%

	For the Year Ended December 31,
	2024
Benefit for income taxes at 21% rate	$	(1,670,637)	21.0	%
State income taxes, net of federal benefit		(588,221)	7.4
Tax credits		(437,296)	5.5
Impact of non-U.S. earnings		(22,103)	0.3
Permanent differences		(347,008)	4.4
Other reconciling items, net		30,411	(0.4)
Change in valuation allowance		3,034,854	(38.1)
Benefit for Income Taxes	$	-	0.00	%

Schedule of Deferred Tax Assets (liabilities)

Significant components of the Company’s deferred tax assets (liabilities) as of December 31, 2025 and 2024 are as follows:

	As of December 31,
	2025		2024
Deferred tax assets:
Net operating loss carry-forward	$	6,557,593	$	4,191,575
Tax credits		527,966		437,296
Non-deductible reserves		75,213		44,733
Capitalized R&D costs		975,924		1,268,685
Share-based compensation		58,890		41,830
Other temporary differences		1,374		-
Gross deferred tax assets		8,196,960		5,984,119
Less valuation allowance		(8,151,443)		(5,915,350)
Total deferred tax assets, net of valuation allowance		45,517		68,769
Deferred tax liabilities:
Fixed asset depreciation		(10,865)		(2,783)
Prepaid expenses		(34,652)		(65,986)
Total deferred tax liabilities		(45,517)		(68,769)
Net deferred tax liabilities	$	-	$	-

Pay vs Performance Disclosure - USD ($)	12 Months Ended
Pay vs Performance Disclosure - USD ($)	Dec. 31, 2025	Dec. 31, 2024
Pay vs Performance Disclosure [Line Items]
Net Income (Loss)	$ (7,365,158)	$ (7,947,107)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

SHARE-BASED COMPENSATION - Schedule of Restricted Stock Units (Details) - shares	Sep. 26, 2024	Jul. 16, 2024
Schedule of Restricted Stock Units [Line Items]
Number of Units Granted	1,042	3,212

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

DERIVATIVE LIABILITIES (Tables)

12 Months Ended

Dec. 31, 2025

DERIVATIVE LIABILITIES

Schedule of Derivative Liabilities Measured at Fair Value on a Recurring Basis

	Contingent Milestone Payment
Derivative liabilities - December 31, 2024	$	640,830
Change in fair value		(266,089)
Derivative liabilities - December 31, 2025	$	374,741

	Contingent Milestone Payment
Derivative liabilities - December 31, 2023	$	2,306,796
Change in fair value		(1,665,966)
Derivative liabilities - December 31, 2024	$	640,830

COMMITMENTS AND CONTINGENCIES (Details)					1 Months Ended		12 Months Ended
COMMITMENTS AND CONTINGENCIES (Details)	Dec. 20, 2024	Sep. 26, 2024 shares	Jul. 16, 2024 shares	Jul. 15, 2015 USD ($)	Oct. 31, 2025 $ / shares shares	Nov. 30, 2024 USD ($)	Dec. 31, 2025 USD ($) DIRECTOR	Dec. 31, 2024 USD ($)
Commitments and Contingencies Details [Line Items]
Operating lease costs							$ 20,350	$ 28,867
Number of non audit committee chairs \| DIRECTOR							2
Cash compensation						$ 20,000
Licensed technology term.				20 years
Annual royalty payment				5.00%
Percentage of royalty payments of net sales	4.00%
Percentage of revenue	20.00%
Office space lease renewed term							1 year
Office space lease expiry date							Mar. 31, 2027
Granted stock option (in Shares) \| shares		1,042	3,212
Loss Contingency, Pending Claims, Number							0
Paul Field [Member]
Commitments and Contingencies Details [Line Items]
Cash compensation							$ 1,250
Charles Allen [Member]
Commitments and Contingencies Details [Line Items]
Cash compensation							2,000
Stephen Toovey [Member]
Commitments and Contingencies Details [Line Items]
Cash compensation							1,250
US Government Sales [Member]
Commitments and Contingencies Details [Line Items]
Royalty expense				$ 35
U.S. Army Agreement [Member]
Commitments and Contingencies Details [Line Items]
Royalty expense				$ 35
Minimum [Member]
Commitments and Contingencies Details [Line Items]
Percentage of treatment of babesiosis	2.00%
Maximum [Member]
Commitments and Contingencies Details [Line Items]
Percentage of treatment of babesiosis	10.00%
Board of Directors Chairman [Member]
Commitments and Contingencies Details [Line Items]
Annual royalty payment				3.00%
Board of Directors Chairman [Member] \| Cheryl Xu [Member]
Commitments and Contingencies Details [Line Items]
Cash compensation							11,250
Board of Directors Chairman [Member] \| Paul Field [Member]
Commitments and Contingencies Details [Line Items]
Cash compensation							11,250
Board of Directors Chairman [Member] \| Charles Allen [Member]
Commitments and Contingencies Details [Line Items]
Cash compensation							11,250
Board of Directors Chairman [Member] \| Stephen Toovey [Member]
Commitments and Contingencies Details [Line Items]
Cash compensation							$ 11,250
Director [Member]
Commitments and Contingencies Details [Line Items]
Number of Directors							4
Director [Member] \| Non-qualified Stock Options [Member]
Commitments and Contingencies Details [Line Items]
Granted stock option (in Shares) \| shares					8,000
Per share exercise price (in dollars per share) \| $ / shares					$ 5.84
Director One [Member] \| Non-qualified Stock Options [Member]
Commitments and Contingencies Details [Line Items]
Granted stock option (in Shares) \| shares					2,000
IPO [Member]
Commitments and Contingencies Details [Line Items]
Payment							$ 10,000,000

DEBT (Tables)

12 Months Ended

Dec. 31, 2025

DEBT

Schedule of the Current Future Payment Obligations

The current future payment obligations of the principal are as follows:

Period	Principal Payments
2026	$	713
2027		3,229
2028		3,337
2029		3,480
2030		3,612
Thereafter		135,629
Total	$	150,000

SHARE-BASED COMPENSATION - Schedule of Share-Based Compensation Expenses (Details) - USD ($)	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Schedule of Share-Based Compensation Expenses [Line Items]
Total Share-Based Compensation Expense Included in Operating Expenses	$ 456,344	$ 3,608,648
Research and Development [Member]
Schedule of Share-Based Compensation Expenses [Line Items]
Total Share-Based Compensation Expense Included in Operating Expenses	0	3,227,300
General and Administrative Expenses [Member]
Schedule of Share-Based Compensation Expenses [Line Items]
Total Share-Based Compensation Expense Included in Operating Expenses	$ 456,344	$ 381,348

DEBT (Details) - USD ($)	May 14, 2020	Dec. 31, 2025	Dec. 31, 2024
Debt [Line Items]
Principal amount	$ 150,000
Current maturity		$ 8,772	$ 8,772
Long-Term Liabilities		144,003	147,119
Small Business Administration [Member]
Debt [Line Items]
Annual interest rate	3.75%
Maturity date	Oct. 12, 2050
Principal payments		$ 152,775	$ 155,891
Balloon Payment [Member]
Debt [Line Items]
Balloon payment	$ 731

INTANGIBLE ASSETS (Details) - USD ($)	12 Months Ended
INTANGIBLE ASSETS (Details) - USD ($)	Dec. 31, 2025	Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Capitalized website development-related costs	$ 27,000	$ 25,374
Amortization expense	39,548	38,502
Capitalized patent expenses	114,697
Write-down for obsolete patents	$ 0	$ 108,424

- Definition

The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets.

+ References

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-Paragraph 6
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476148/220-40-50-6

+ Details

Insider Trading Arrangements	12 Months Ended
Insider Trading Arrangements	Dec. 31, 2025
Trading Arrangements, by Individual [Table]
Rule 10b5-1 Arrangement Adopted [Flag]	false
Non-Rule 10b5-1 Arrangement Adopted [Flag]	false
Rule 10b5-1 Arrangement Terminated [Flag]	false
Non-Rule 10b5-1 Arrangement Terminated [Flag]	false

CONSOLIDATED BALANCE SHEETS (Parentheticals) - $ / shares	Dec. 31, 2025	Feb. 24, 2025	Feb. 18, 2025	Dec. 31, 2024	Aug. 12, 2024	Jul. 30, 2024
Common stock, par value (in Dollars per share)	$ 0.0001			$ 0.0001
Common stock, shares authorized	150,000,000			150,000,000
Common stock, shares issued	1,163,142			141,749
Common stock, shares outstanding	1,163,142	1,472,891	7,364,554	141,749	1,768,337	21,219,937
Series A Preferred Stock
Preferred stock, par value (in Dollars per share)	$ 0.0001			$ 0.0001
Preferred stock, shares authorized	1,000,000			1,000,000
Preferred stock, shares issued	76,480			76,480
Preferred stock, shares outstanding	76,480			76,480

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	Dec. 31, 2025	Dec. 31, 2024
CASH FLOWS FROM OPERATING ACTIVITIES
Net Loss	$ (7,368,325)	$ (7,955,663)
Adjustments to Reconcile Net Loss to Net Cash Used in Operating Activities:
Depreciation	43,324	11,726
Amortization	39,548	38,502
Amortization of ROU Asset	0	13,517
Amortization of Capitalized Share-Based Payments	176,471	3,575,881
Share-Based Compensation under Equity Incentive Plan	279,873	32,767
Change in Fair Value of Derivative Liabilities	(266,089)	(1,665,966)
Write-offs of Capitalized Patents	0	108,424
Change in Inventory Reserve	251,677	0
Changes in Operating Assets and Liabilities:
Accounts Receivable	(22,896)	(255,416)
Prepaid and Other Assets	(19,486)	(39,423)
Inventory	(465,837)	23,405
Accounts Payable and Accrued Liabilities	491,083	501,412
Accrued Interest, net	11,635	(23,604)
Reduction of Lease Liability	0	(13,650)
Net Cash Used in Operating Activities	(6,849,022)	(5,648,088)
CASH FLOWS FROM INVESTING ACTIVITIES
Capitalization of Patents	(55,533)	(51,967)
Purchases of Fixed Assets	(139,881)	(103,773)
Acquisition of Intangibles	(22,670)	(25,374)
Purchase of Short-Term Investments	(1,235,000)	(1,708,000)
Maturities of Short-Term Investments	1,708,000	0
Net Cash Provided by (Used in) Investing Activities	254,916	(1,889,114)
CASH FLOWS FROM FINANCING ACTIVITIES
Net Proceeds from January 2024 Offering	0	1,898,296
Net Proceeds from January 2025 Offering	804,346	0
Net Proceeds from February 2025 Offering	908,627	0
Net Proceeds From July 2025 Offering	4,281,300	0
Shares Withheld for Net Share Settlement of Performance Bonuses	(18,000)	0
Net proceeds from ATM Offering	458,614	1,729,810
Net proceeds from Private Placement	0	3,414,502
Proceeds from Exercise of Pre-Funded Warrants	2,804	10,963
Net Cash Provided by Financing Activities	6,437,691	7,053,571
Effect of Exchange Rate Changes on Cash	7,127	499
Change in Cash and Cash Equivalents	(149,288)	(483,132)
Cash and Cash Equivalents-Beginning of Period	1,659,353	2,142,485
Cash and Cash Equivalents-End of Period	1,510,065	1,659,353
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Cash paid During the Year for Interest	8,772	8,772
Cash paid During the Year for Income Taxes	0	0
NONCASH INVESTING/FINANCING ACTIVITIES
Conversion of Series A Preferred Stock into Common Stock	0	290,601
Capitalized Share-Based Payments to Vendors	0	26,325
Fair Value of Warrants Issued to Underwriters	0	71,364
Capitalized Patent Costs included in Accounts Payable	24,292	0
Capitalized Website Costs included in Accounts Payable	4,330	0
ATM Offering Costs included in Accounts Payable	53,500	0
Gross Shares Issued for Annual Performance Bonuses	$ 121,544	$ 0

INTANGIBLE ASSETS - Schedule of Estimated Future Amortization Expense for Our Patents and Website Development Costs (Details)	Dec. 31, 2025 USD ($)
Patents [Member]
Schedule of Estimated Future Amortization Expense for Our Patents and Website Development Costs [Line Items]
2026	$ 7,337
2027	7,337
2028	7,337
2029	7,337
2030	7,337
Thereafter	31,468
Total	68,153
Website Development Costs [Member]
Schedule of Estimated Future Amortization Expense for Our Patents and Website Development Costs [Line Items]
2026	21,432
2027	12,094
2028	7,985
2029	0
2030	0
Thereafter	0
Total	$ 41,511

STOCKHOLDERS' EQUITY - Schedule of Equity-Classified Warrants (Details) - Warrants [Member] - $ / shares

12 Months Ended

Dec. 31, 2025

Dec. 31, 2024

Dec. 31, 2023

Schedule of Equity-Classified Warrants [Line Items]

Number of Warrants, Total outstanding, Beginning

441,277

^[1],[2]

13,190

Weighted Average Exercise Price, Total outstanding, Beginning

$ 70.37

^[1],[2]

$ 1,479.86

Weighted Average Remaining Contractual Life (Years), Total outstanding, Beginning

3 years 3 months 3 days

^[1]

4 years 5 months 19 days

Number of Warrants, Granted

1,771,520

^[3]

480,879

^[2]

Weighted Average Exercise Price, Granted

$ 7.41

^[3]

$ 24.01

^[2]

Weighted Average Remaining Contractual Life (Years), Granted

2 years 9 months 3 days

^[3]

3 years 5 months 19 days

^[2]

Number of Warrants, Exercised

(315,869)

(52,792)

Weighted Average Exercise Price, Exercised

$ 0.009

$ 0.21

Weighted Average Remaining Contractual Life (Years), Exercised

Indefinite

Number of Warrants, Forfeited

Weighted Average Exercise Price, Forfeited

$ 0

Number of Warrants, Expired

Weighted Average Exercise Price, Expired

$ 0

Number of Warrants, Total outstanding, Ending

1,896,928

441,277

^[1],[2]

13,190

Weighted Average Exercise Price, Total outstanding, Ending

$ 23.29

$ 70.37

^[1],[2]

$ 1,479.86

Weighted Average Remaining Contractual Life (Years), Total outstanding, Ending

2 years 6 months 25 days

3 years 3 months 3 days

^[2]

Number of Warrants,Total exercisable

1,896,928

441,277

^[2]

Weighted Average Exercise Price,Total exercisable

$ 23.29

$ 70.37

^[2]

Weighted Average Remaining Contractual Life (Years),Total exercisable

2 years 6 months 25 days

3 years 3 months 3 days

^[2]

[1]	Weighted average remaining contractual life at December 31, 2024 excludes 96,300 Pre-Funded Warrants issued September 2024 that do not have a contractual expiration date, for which 0 warrants remain outstanding and exercisable at December 31, 2025.
[2]	Weighted average remaining contractual life calculations exclude (i) 4,164 Pre-Funded Warrants issued January 2024 that do not have a contractual expiration date, for which 0 remained outstanding at December 31, 2024 and (ii) 144,928 Pre-Funded Warrants issued September 2024 that do not have a contractual expiration date, for which 96,300 remained outstanding and were exercisable at December 31, 2024.
[3]	Weighted average remaining contractual life excludes 219,569 Pre-Funded Warrants issued July 2025 that do not have a contractual expiration date, for which 0 warrants remain outstanding and exercisable at December 31, 2025.

INCOME TAXES - Schedule of Components of the Provision (benefit) for Income Taxes (Details) - USD ($)	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Current:
Federal	$ 0	$ 0
State	0	0
Foreign	0	0
Total current provision (benefit)	0	0
Deferred:
Federal	0	0
State	0	0
Foreign	0	0
Total deferred provision (benefit)	0	0
Benefit for Income Taxes	$ 0	$ 0

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Parentheticals)			1 Months Ended
	Feb. 24, 2025	Aug. 12, 2024	Oct. 31, 2025	Nov. 30, 2024	Jul. 31, 2024
CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY
Reverse stock split	1:5	1:12	Following stockholder approval in October 2025, the Company effected an additional reverse stock split at a ratio of 1:4 (the “1:4 Reverse Stock Split” and together with the 1:12 Reverse Stock Split and the 1:5 Reverse Stock Split, the “Reverse Stock Splits”), which was effective January 20, 2026 (See Note 12 – Subsequent Events).	Following stockholder approval in November 2024, the Company effected an additional reverse stock split at a ratio of 1:5 (the “1:5 Reverse Stock Split), which was effective as of February 24, 2025	Following stockholder approval in July 2024, the Company effected a reverse stock split at a ratio of 1:12 (the “1:12 Reverse Stock Split”), which was effective as of August 12, 2024

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Average Exchange Rates (Details) - USD [Member]	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Schedule of Average Exchange Rates [Line Items]
Average Exchange Rate	0.64	0.66
Exchange rates	0.67	0.62

COMMITMENTS AND CONTINGENCIES

12 Months Ended

Dec. 31, 2025

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES

11. COMMITMENTS AND CONTINGENCIES

Operating Lease

The Company is a party to a single lease with CXI Corp for its office space located in Washington, DC, which was most recently renewed in December 2025 for an additional one-year term that expires on March 31, 2027. As the term of the office lease is 12 months, the lease is not recorded on the balance sheet. The Company recognizes lease expense on this lease as short-term lease costs. Operating lease costs, including short-term leases, were in the amount of $20,350 and $28,867 for the years ended December 31, 2025 and 2024, respectively.

Board of Directors

In November and December 2022, the Company signed agreements with four director nominees (Cheryl Xu, Paul Field, Charles Allen and Stephen Toovey) which came into effect on July 11, 2023, the date the Company’s Registration Statement was declared effective. Each director is entitled to receive cash compensation of $11,250 quarterly. In addition, the two non-audit committee chairs (Toovey, Field) will receive $1,250 per quarter and the audit committee chair (Allen) will receive an additional $2,000 per quarter. In addition, each director is entitled to receive annual equity-based compensation awards, with the amounts and terms to be determined by the Compensation Committee.

In November 2024, the Company paid each non-executive director an additional $20,000 of cash compensation in lieu of granting equity-based compensation awards for the year ended December 31, 2024.

In October 2025, the Company granted a total of 8,000 non-qualified stock options to each member of the Company’s Board of Directors (2,000 options per director) at a per share exercise price of $5.84. These stock options were fully vested on the date of grant and have a term of seven years.

Contingencies

The Company’s operations are subject to a variety of local and state regulations. Failure to comply with one or more of those regulations could result in fines, restrictions on its operations, or losses of permits that could result in the Company ceasing operations.

Contingent Compensation

Following the Company’s IPO and the conversion of the outstanding debt pursuant to the Knight Debt Conversion Agreement, as discussed in Note 8, the Company is obligated to pay Knight a contingent milestone payment of $10 million if the Company sells Arakoda™ or if a Change of Control occurs. The Company accounts for the contingent milestone payment as a derivative liability (See Note 8).

On July 15, 2015, the Company entered into the Exclusive License Agreement with the U.S. Army Medical Materiel Development Activity (the “U.S. Army”), which was subsequently amended (the “U.S. Army Agreement”), in which the Company obtained a license to develop and commercialize the licensed technology with respect to all therapeutic applications and uses excluding radical cure of symptomatic vivax malaria. The term of the U.S. Army Agreement will continue until the expiration of the last to expire of the patent application or valid claim of the licensed technology, or 20 years from the start date of the U.S. Army Agreement, unless terminated earlier by the parties. The Company must make a minimum annual royalty payment of 3% of Net Sales (as defined in the U.S. Army Agreement) for Net Sales less than $35 million, and 5% of Net Sales greater than $35 million, with US government sales excluded from the definition of Net Sales. In addition, the Company must pay fees upon the achievement of certain milestones. The Company accrues the minimum annual royalty when the related sales occur. The achievement of the remaining milestones under the U.S. Army Agreement are not considered probable and thus no accruals for the related milestone payments have been made.

On December 20, 2024, the Company entered into a Patent License Agreement with Tufts Medical Center (“Tufts MC”), pursuant to which the Company obtained a license to research and commercialize certain patent applications covering jointly developed inventions related to the use of tafenoquine for treatment and/or prevention of babesiosis. (the “Tufts MC Agreement”). The term of the Tufts MC Agreement will continue until the expiration or final abandonment of the last patent application or issued patent for the use of tafenoquine for treatment and/or prevention of babesiosis, unless terminated earlier by the parties. On the earlier of (x) the date of patent issuance or (y) the date of regulatory approval for the use of tafenoquine product in treatment of babesiosis, the Company must make royalty payments equal to 4% of Net Sales (as defined in the Tufts MC Agreement) of tafenoquine products sold in a format labeled for use in the treatment of babesiosis or 2% of Net Sales of tafenoquine products sold in a format not labeled for use in the treatment of babesiosis. In addition, for all sublicense revenue received by 60P from sales of sublicensed products, the Company must make payments equal to 20% of the revenue received by the Company for sales of tafenoquine products sold in a format labeled for use in the treatment of babesiosis or 10% of the revenue received for sales of tafenoquine that are sold in a format not labeled for use in the treatment of babesiosis. As of December 31, 2025, the royalty period has not commenced, thus no accruals have been made.

(e) Litigation, Claims and Assessments

From time to time, the Company may be involved in litigation relating to claims arising out of operations in the normal course of business. As of December 31, 2025, there were no pending or threatened lawsuits that could reasonably be expected to have a material effect on the results of the Company’s operations.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

12 Months Ended

Dec. 31, 2025

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

Principles of Consolidation and Noncontrolling Interest

Use of Estimates

Reverse Stock Splits

Cash and Cash Equivalents

Short-Term Investments

Accounts Receivable and Allowance for Doubtful Accounts

Inventory

Property and Equipment

Impairment of Long-lived Assets

Intangible Assets

Website Development Costs

Derivative Liabilities

Equity or liability instruments that become subject to reclassification under ASC Topic 815 are reclassified at the fair value of the instrument on the reclassification date.

Equity-Classified Warrants

Research and Development Costs

Fair Value of Financial Instruments and the Fair Value Option (“FVO”)

Level 1	-	Quoted prices (unadjusted) in active markets that are accessible at the measurement date for identical assets or liabilities.

Level 2	-	Observable prices that are based on inputs not quoted on active markets but corroborated by market data.

Level 3	-	Unobservable inputs reflecting the Company’s assumptions, consistent with reasonably available assumptions made by other market participants. These valuations require significant judgment.

Liabilities measured at fair value at December 31, 2025 and 2024 are as follows:

	December 31, 2025
	Level 1		Level 2		Level 3		Total
Liabilities:
Derivative Liabilities	$	-	$	-	$	374,741	$	374,741
Total	$	-	$	-	$	374,741	$	374,741

	December 31, 2024
	Level 1		Level 2		Level 3		Total
Liabilities:
Derivative Liabilities	$	-	$	-	$	640,830	$	640,830
Total	$	-	$	-	$	640,830	$	640,830

Assets and Liabilities Not Measured at Fair Value on a Recurring Basis

Foreign Currency Transactions and Translation

Exchange rates along with historical rates used in these financial statements are as follows:

	Average Exchange Rate
	Year Ended December 31,				As of
Currency	2025		2024		December 31, 2025		December 31, 2024
1 AUD =	0.64	USD	0.66	USD	0.67	USD	0.62	USD

Reclassifications

Share-Based Payments

On November 22, 2022, the Company adopted the 2022 Equity Incentive Plan also referred to as (“2022 Plan”). The 2022 Plan and related share-based awards are discussed more fully in Note 10.

Net Loss per Common Share

As the Company has reported a net loss for all periods presented, the calculation of diluted net loss per common share is the same as basic net loss per common share for those periods.

Related Parties

Subsequent Events

Recently Adopted and Issued Accounting Pronouncements

SUBSEQUENT EVENTS

12 Months Ended

Dec. 31, 2025

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS

12. SUBSEQUENT EVENTS

The Company has evaluated subsequent events through March 30, 2026, which is the date the consolidated financial statements were issued.

2025 ATM Agreement

Pursuant to the 2025 ATM Agreement described in Note 6, between January 1, 2026 and January 22, 2026, the Company sold an aggregate of 418,602 shares at a weighted average price per share of $2.07, generating net proceeds to the Company of $834,705, after deducting commissions and certain other offering expenses.

1:4 Reverse Stock Split

On January 14, 2026, the Company filed an amendment to its Certificate of Incorporation with the Secretary of State of Delaware to effect the 1:4 Reverse Stock Split. On January 20, 2026, the Company effected the 1:4 Reverse Stock Split of its common stock, and our common stock began trading on The Nasdaq Capital Market on a split adjusted basis. See Notes 2 and 6 for further details.

The Company’s stockholders approved a reverse stock split at a ratio ranging from 1:3 to 1:10 at the 2025 Annual Stockholders Meeting on October 8, 2025, and subsequently on December 17, 2025, the Company’s Board of Directors approved the implementation of the reverse stock split at a ratio of 1:4.

As of the effective time of the 1:4 Reverse Stock Split, every four (4) issued and outstanding shares of the Company’s common stock were automatically combined and converted into one (1) issued and outstanding share of the Company’s common stock, reducing the number of shares of common stock outstanding from 5,436,441 shares to 1,359,091 shares. The 1:4 Reverse Stock Split did not change the authorized number of shares of common stock or preferred stock. Proportional adjustments were made to the number of shares of common stock issuable upon exercise or conversion of the Company’s equity awards, warrants, and other equity instruments convertible into common stock, as well as the respective exercise prices, if applicable in accordance with the terms of the instruments. No fractional shares of common stock were issued in connection with the 1:4 Reverse Stock Split. All fractional shares were rounded up to the nearest whole share with respect to outstanding shares of common stock.

Unless otherwise noted, all references to numbers of shares of the Company’s common stock and per share information presented in these consolidated financial statements have been retroactively adjusted, as appropriate, to reflect the 1:4 Reverse Stock Split (as well as the 1:5 Reverse Stock Split in February 2025 and the 1:12 Reverse Stock Split in August 2024), including reclassifying an amount equal to the reduction in par value of common stock to additional paid-in capital.

Nasdaq Delisting Notice

On January 20, 2026, the Company received a written notice from the Nasdaq Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) indicating that Nasdaq staff has determined to delist the Company’s common stock and warrants from The Nasdaq Capital Market because the Company’s common stock failed to maintain a minimum bid price of $1.00 per share for 30 consecutive business days, in violation of Nasdaq Listing Rule 5550(a)(2). The Company paid the $20,000 for the hearing fee and requested an appeal with Nasdaq, pursuant to the Notice, which stayed the suspension of trading and the filing of the Form 25-NSE pending the Panel’s decision.

On February 11, 2026, the Company was notified by Nasdaq that the Company regained compliance with the minimum bid price requirement set forth in Nasdaq Listing Rule 5550(a)(2) and that the Company is therefore in compliance with the Nasdaq Capital Market’s listing requirements. As a result, the hearing before the Nasdaq Hearings Panel that had been scheduled for February 19, 2026, has been cancelled, and this matter was closed. The Company’s common stock will continue to be listed and traded on The Nasdaq Capital Market.

March 2026 ATM Agreement

On March 2, 2026, the Company filed a prospectus supplement pursuant to Rule 424(b)(5) (the “2026 ATM Prospectus Supplement”) in connection with the Company’s At-The-Market Offering Agreement, with H.C. Wainwright & Co., LLC (“Wainwright”), pursuant to which the Company may, from time to time, offer and sell additional shares of its common stock having aggregate sales proceeds of up to $1,308,000 (the “2026 ATM Prospectus Supplement ”). The 2026 ATM Prospectus Supplement was subsequently amended on March 11, 2026, to increase the maximum aggregate offering price under the 2026 ATM Offering by $981,000 (the “2026 ATM Prospectus Supplement Amendment,” and together with the 2026 ATM Prospectus Supplement the “2026 ATM Offering”).

As compensation for acting as the sales agent for the 2026 ATM Offering, Wainwright is entitled to a commission of 3.0% of the gross proceeds from the sales of shares in the 2026 ATM Offering.

The common stock that may be sold pursuant to the 2026 ATM Prospectus Supplement will be issued and sold pursuant to the Company’s shelf registration statement on Form S-3 and accompanying base prospectus (Registration Statement No. 333-280796), which was declared effective by the SEC on July 18, 2024, and the 2026 ATM Prospectus Supplement relating to the offer and sale of the shares pursuant to the 2025 ATM Agreement.

Between March 2, 2026 and March 25, 2026, the Company sold an aggregate of 1,055,106 shares at a weighted average price per share of $2.49 generating net proceeds to the Company of $2,545,297, after deducting commissions and certain other offering expenses.

There have been no other events or transactions during this time which would have a material effect on these consolidated financial statements.

SHARE-BASED COMPENSATION - Schedule of Fair Value of Options Granted (Details) - $ / shares	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
SHARE-BASED COMPENSATION
Weighted-average grant date fair value (in Dollars per share)	$ 15.24	$ 35.12
Risk-free interest rate, minimum	3.54%	3.62%
Risk-free interest rate, maximum	4.36%	4.17%
Expected volatility, minimum	90.00%	86.00%
Expected volatility, maximum	107.65%	87.00%
Expected term, minimum (years)	3 years 6 months	6 years 4 months 28 days
Expected term, maximum (years)	4 years 6 months	10 years
Expected dividend yield	0.00%	0.00%

DEBT

12 Months Ended

Dec. 31, 2025

DEBT

DEBT

7. DEBT

SBA COVID-19 EIDL

On May 14, 2020, the Company received COVID-19 EIDL lending from the Small Business Administration (SBA) in the amount of $150,000. The loan bears interest at an annual rate of 3.75% calculated on a monthly basis. Monthly payments of $731 were required beginning in November 2022, with a final balloon payment equal to the remaining principal due at the maturity date of October 12, 2050. The balance as of December 31, 2025 and 2024 is $152,775 and $155,891, respectively. The current maturity at December 31, 2025 is $8,772 and the long-term liability is $144,003 ($8,772 and $147,119 at December 31, 2024, respectively). The loan is collateralized by all tangible and intangible personal property of the Company. The Company is prohibited from accepting future advances under any superior liens on the collateral without the prior consent of SBA.

The current future payment obligations of the principal are as follows:

Period	Principal Payments
2026	$	713
2027		3,229
2028		3,337
2029		3,480
2030		3,612
Thereafter		135,629
Total	$	150,000

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
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-Name Accounting Standards Codification
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
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-URI https://asc.fasb.org/470/tableOfContent

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482925/835-30-45-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

INTANGIBLE ASSETS

12 Months Ended

Dec. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLE ASSETS

5. INTANGIBLE ASSETS

As of December 31, 2025 and 2024, Intangible Assets, net consist of:

	December 31, 2025		December 31, 2024
Patents	$	207,428	$	127,603
Website Development Costs		131,622		104,622
Intangible Assets, at cost		339,050		232,225
Accumulated Amortization		(114,689)		(75,141)
Intangible Assets, net	$	224,361	$	157,084

During the years ended December 31, 2025 and 2024, the Company capitalized website development-related costs of $27,000 and $25,374 respectively, in connection with the upgrade and enhancement of functionality of the corporate website at www.60degreespharma.com. Amortization expense for the years ended December 31, 2025, and 2024 was in the amount of $39,548 and $38,502, respectively. During the years ended December 31, 2025 and 2024, write-downs for expired or obsolete patents totaled $0 and $108,424, respectively.

The following table summarizes the estimated future amortization expense for our patents and website development costs as of December 31, 2025:

Period	Patents		Website Development Costs
2026	$	7,337	$	21,432
2027		7,337		12,094
2028		7,337		7,985
2029		7,337		-
2030		7,337		-
Thereafter		31,468		-
Total	$	68,153	$	41,511

The Company additionally has $114,697 in capitalized patent expenses that will become amortizable as the patents they are associated with are awarded.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Liabilities Measured at Fair Value (Details) - USD ($)	Dec. 31, 2025	Dec. 31, 2024
Schedule of Liabilities Measured at Fair Value [Line Items]
Total derivative liabilities	$ 374,741	$ 640,830
Level 1 [Member]
Schedule of Liabilities Measured at Fair Value [Line Items]
Total derivative liabilities	0	0
Level 2 [Member]
Schedule of Liabilities Measured at Fair Value [Line Items]
Total derivative liabilities	0	0
Level 3 [Member]
Schedule of Liabilities Measured at Fair Value [Line Items]
Total derivative liabilities	374,741	640,830
Derivative Liabilities [Member]
Schedule of Liabilities Measured at Fair Value [Line Items]
Total derivative liabilities	374,741	640,830
Derivative Liabilities [Member] \| Level 1 [Member]
Schedule of Liabilities Measured at Fair Value [Line Items]
Total derivative liabilities	0	0
Derivative Liabilities [Member] \| Level 2 [Member]
Schedule of Liabilities Measured at Fair Value [Line Items]
Total derivative liabilities	0	0
Derivative Liabilities [Member] \| Level 3 [Member]
Schedule of Liabilities Measured at Fair Value [Line Items]
Total derivative liabilities	$ 374,741	$ 640,830

CONSOLIDATED BALANCE SHEETS - USD ($)

Dec. 31, 2025

Dec. 31, 2024

Current Assets:

Cash and Cash Equivalents

$ 1,510,065

$ 1,659,353

Accounts Receivable

509,644

486,748

Prepaid and Other Assets

978,131

1,068,940

Short-Term Investments

1,240,721

1,728,472

Inventory (Note 3)

656,924

442,764

Total Current Assets

4,895,485

5,386,277

Property and Equipment, net (Note 4)

246,365

149,808

Other Assets:

Long-Term Prepaid Expense

66,176

Intangible Assets, net (Note 5)

224,361

157,084

Total Other Assets

224,361

223,260

Total Assets

5,366,211

5,759,345

Current Liabilities:

Accounts Payable and Accrued Expenses

1,459,279

1,007,618

SBA EIDL (including accrued interest) (Note 7)

8,772

Derivative Liabilities (Note 8)

374,741

640,830

Total Current Liabilities

1,842,792

1,657,220

Long-Term Liabilities:

SBA EIDL (including accrued interest) (Note 7)

144,003

147,119

Total Long-Term Liabilities

144,003

147,119

Total Liabilities

1,986,795

1,804,339

Commitments and Contingencies (Note 11)

SHAREHOLDERS’ EQUITY:

Series A Preferred Stock, $0.0001 par value, 1,000,000 shares authorized; 76,480 and 76,480 issued and outstanding as of December 31, 2025 and December 31, 2024, respectively (Note 6)

9,567,439

Common Stock, $0.0001 par value, 150,000,000 shares authorized; 1,163,142 and 141,749 issued and outstanding as of December 31, 2025 and December 31, 2024, respectively(1) (Note 6)

116

Additional Paid-in Capital

^[1]

41,646,139

34,860,633

Accumulated Other Comprehensive Income

142,598

135,471

Accumulated Deficit

(47,893,115)

(40,527,957)

60P Shareholders’ Equity:

3,463,177

4,035,600

Noncontrolling Interest

(83,761)

(80,594)

Total Shareholders’ Equity

3,379,416

3,955,006

Total Liabilities and Shareholders’ Equity

$ 5,366,211

$ 5,759,345

[1]	Periods presented have been adjusted to reflect the 1:4 reverse stock split on January 20, 2026.

PROPERTY AND EQUIPMENT (Tables)

12 Months Ended

Dec. 31, 2025

PROPERTY AND EQUIPMENT

Schedule of Property and Equipment

As of December 31, 2025 and 2024, Property and Equipment, net consists of:

	December 31, 2025		December 31, 2024
Lab Equipment	$	366,791	$	233,411
Machinery		55,800		55,800
Computer Equipment		11,598		7,000
Furniture		3,030		3,030
Property and Equipment, at cost		437,219		299,241
Accumulated Depreciation		(190,854)		(149,433)
Property and Equipment, Net	$	246,365	$	149,808

INCOME TAXES - Schedule of Reconciliation of Income Taxes Computed at the U.S. Statutory Income Tax Rate To Provision (Benefit) for Income Taxes After Adoption of ASU 2023-09 (Details) - USD ($)	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Tax at U.S. Statutory Rate, Amount
Benefit for income taxes at 21% rate	$ (1,547,348)	$ (1,670,637)
State income taxes, net of federal benefit	0	(588,221)
Change in valuation allowance		3,034,854
Non-taxable or non-deductible items	(63,020)
Stock-based compensation	45,544
Tax credits	(90,670)	(437,296)
Benefit for Income Taxes	$ 0	$ 0
Effective Income Tax Rate Reconciliation, Percent [Abstract]
Benefit for income taxes at 21% rate, percentage	21.00%	21.00%
State income taxes, net of federal benefit, percentage	0.00%	7.40%
Change in valuation allowance, percentage		(38.10%)
Other items, percentage		(0.40%)
Non-taxable or non-deductible items, percentage	0.90%
Stock-based compensation, percentage	(0.60%)
Tax credits, percentage	1.20%	5.50%
Benefit for Income Taxes, percentage	0.00%	0.00%
AUSTRALIA
Tax at U.S. Statutory Rate, Amount
Change in valuation allowance	$ 88,925
Other items	$ 7,582
Effective Income Tax Rate Reconciliation, Percent [Abstract]
Change in valuation allowance, percentage	(1.20%)
Other items, percentage	(0.10%)
UNITED STATES
Tax at U.S. Statutory Rate, Amount
Change in valuation allowance	$ 1,558,987
Other items	$ 0
Effective Income Tax Rate Reconciliation, Percent [Abstract]
Change in valuation allowance, percentage	(21.20%)
Other items, percentage	0.00%

STOCKHOLDERS' EQUITY (Details) - USD ($)

1 Months Ended

12 Months Ended

Jul. 16, 2026

Jan. 20, 2026

Jan. 14, 2026

Oct. 08, 2025

Jul. 15, 2025

Feb. 24, 2025

Feb. 06, 2025

Feb. 05, 2025

Jan. 28, 2025

Sep. 30, 2024

Sep. 05, 2024

Aug. 19, 2024

Aug. 12, 2024

Aug. 01, 2024

Jul. 12, 2024

Apr. 03, 2024

Apr. 01, 2024

Feb. 14, 2024

Jan. 31, 2024

Jan. 29, 2024

Mar. 31, 2022

Mar. 22, 2022

Jul. 15, 2015

Jan. 22, 2026

Oct. 31, 2025

Jul. 31, 2025

Nov. 30, 2024

Sep. 30, 2024

Jul. 31, 2024

Jan. 31, 2024

Dec. 31, 2025

Dec. 31, 2024

Sep. 05, 2025

Feb. 18, 2025

Sep. 04, 2024

Jul. 30, 2024

Stockholders Equity Details [Line Items]

Common stock shares authorized

150,000,000

Common stock par value (in Dollars per share)

$ 0.0001

Common stock, shares issued

1,163,142

141,749

Common stock outstanding

1,472,891

1,768,337

1,163,142

141,749

7,364,554

21,219,937

Reverse stock split

1:5

1:12

Following stockholder approval in October 2025, the Company effected an additional reverse stock split at a ratio of 1:4 (the “1:4 Reverse Stock Split” and together with the 1:12 Reverse Stock Split and the 1:5 Reverse Stock Split, the “Reverse Stock Splits”), which was effective January 20, 2026 (See Note 12 – Subsequent Events).

Following stockholder approval in November 2024, the Company effected an additional reverse stock split at a ratio of 1:5 (the “1:5 Reverse Stock Split), which was effective as of February 24, 2025

Following stockholder approval in July 2024, the Company effected a reverse stock split at a ratio of 1:12 (the “1:12 Reverse Stock Split”), which was effective as of August 12, 2024

Shares converted

4,619

Sale of stock price per share (in Dollars per share)

$ 90

Exercise of warrants

10,870

Pre-funded warrants

625

Additional common share

Net proceeds (in Dollars)

$ 1,900,000

Other offering expenses paid (in Dollars)

$ 510,000

Agreed to return shares

1,253,603

ATM Offering

33,897

Gross proceeds (in Dollars)

$ 1,994,583

Cash proceeds (in Dollars)

2,804

$ 10,963

Deducting placement agent fees (in Dollars)

$ 3,414,502

$ 0

3,414,502

Exercise price (in Dollars per share)

$ 0.02

Dividends percentage

6.00%

Dividends preferred stock (in Dollars)

$ 1,205,071

Net Proceeds from January 2025 Offering

804,346

Net Proceeds from February 2025 Offering

908,627

Proceeds from Exercise of Pre-Funded Warrants

2,804

10,963

Net Proceeds From July 2025 Offering

$ 4,281,300

$ 0

Warrant [Member]

Stockholders Equity Details [Line Items]

Number of Warrants, Granted

1,771,520

^[1]

480,879

^[2]

Number of shares

Number of warrant exercisable

Exercise price of warrants (in Dollars per share)

$ 2.4

Exercise of warrants

3,913

Exercise price (in Dollars per share)

$ 48,628

$ 219,569

Number of Warrants, Exercised

315,869

52,792

Number of Warrants,Total exercisable

1,896,928

441,277

^[2]

Pre-Funded Warrant [Member]

Stockholders Equity Details [Line Items]

Number of Warrants, Granted

219,569

144,928

4,164

96,300

Warrant shares

4,164

96,300

Warrant offering price (in Dollars per share)

$ 90

Number of shares

Number of warrant exercisable

Exercise price of warrants (in Dollars per share)

$ 90

Exercise of warrants

4,164

96,300

Outstanding value (in Dollars)

$ 0

Number of Warrants, Exercised

315,869

52,792

Issuance of common stock upon exercise of Pre-Funded Warrants (in Shares)

315,869

52,792

Proceeds from Exercise of Pre-Funded Warrants

$ 2,804

$ 10,963

January 2024 Pre-Funded Warrants [Member]

Stockholders Equity Details [Line Items]

Exercise price of warrants (in Dollars per share)

$ 2.4

January 2024 Warrants [Member]

Stockholders Equity Details [Line Items]

Exercise price of warrants (in Dollars per share)

$ 2.4

$ 101.64

Series A and Series B Warrants [Member]

Stockholders Equity Details [Line Items]

Exercise price of warrants (in Dollars per share)

$ 27.6

Common Stock [Member]

Stockholders Equity Details [Line Items]

Reverse stock split, shares

93,563

4,675

^[3]

Shares converted

3,667

Restricted shares of common stock

^[3]

1,070

Number of shares

Purchase of common stock

^[3]

3,667

Issuance of common stock and warrants pursuant to January 2025 Offering, net of offering costs paid at closing and deferred offering costs (in Shares)

^[3]

51,079

Issuance of common stock and warrants pursuant to February 2025 Offering, net of offering costs paid at closing and deferred offering costs (in Shares)

^[3]

75,176

Issuance of common stock and warrants pursuant to July 2025 Offering, net of offering costs paid at closing and deferred offering costs (in Shares)

^[3]

438,332

Issuance of common stock upon exercise of Pre-Funded Warrants (in Shares)

^[3]

315,869

52,792

Common Stock [Member] | Pre-Funded Warrant [Member]

Stockholders Equity Details [Line Items]

Number of shares

Exercise of warrants

144,928

Subsequent Event [Member]

Stockholders Equity Details [Line Items]

Common stock outstanding

1,359,091

5,436,441

Reverse stock split

1:4

Over-Allotment Option [Member]

Stockholders Equity Details [Line Items]

Shares warrants

3,410

Trevally, LLC [Member]

Stockholders Equity Details [Line Items]

Agreed to return shares

500

Shares return consideration

$ 0

January2024 Offering Member

Stockholders Equity Details [Line Items]

Sale of stock price per share (in Dollars per share)

$ 92.4

Units issued

21,921

January 2025 Offering [Member]

Stockholders Equity Details [Line Items]

Issuance of common stock and warrants pursuant to January 2025 Offering, net of offering costs paid at closing and deferred offering costs (in Shares)

51,079

Net Proceeds from January 2025 Offering

$ 804,346

January 2025 Offering [Member] | January 2025 Warrants [Member]

Stockholders Equity Details [Line Items]

Exercise price of warrants (in Dollars per share)

$ 15.42

Exercise of warrants

102,158

Warrant expiry period

24 months

Exercisable date of warrants

Jan. 30, 2025

January 2025 Offering [Member] | January 2025 Agent Warrants [Member]

Stockholders Equity Details [Line Items]

Exercise price of warrants (in Dollars per share)

$ 25.53

Exercise of warrants

3,833

Warrant expiry period

24 months

January 2025 Offering [Member] | Common Stock [Member]

Stockholders Equity Details [Line Items]

Sale of stock price per share (in Dollars per share)

$ 20.42

February 2025 Offering [Member]

Stockholders Equity Details [Line Items]

Net Proceeds from February 2025 Offering

$ 908,627

Issuance of common stock and warrants pursuant to February 2025 Offering, net of offering costs paid at closing and deferred offering costs (in Shares)

75,176

February 2025 Offering [Member] | January 2025 Warrants [Member]

Stockholders Equity Details [Line Items]

Exercise price of warrants (in Dollars per share)

$ 11.8

Warrant expiry period

24 months

February 2025 Offering [Member] | February 2025 Warrants [Member]

Stockholders Equity Details [Line Items]

Exercise of warrants

75,176

February 2025 Offering [Member] | February 2025 Agent Warrants [Member]

Stockholders Equity Details [Line Items]

Exercise price of warrants (in Dollars per share)

$ 17.88

Exercise of warrants

5,640

Warrant expiry period

24 months

February 2025 Offering [Member] | Common Stock [Member]

Stockholders Equity Details [Line Items]

Sale of stock price per share (in Dollars per share)

$ 14.3

July 2025 Offering [Member]

Stockholders Equity Details [Line Items]

Net Proceeds From July 2025 Offering

$ 4,281,300

July 2025 Offering [Member] | July 2025 Pre-Funded Warrants [Member]

Stockholders Equity Details [Line Items]

Sale of stock price per share (in Dollars per share)

$ 7.596

Exercise price of warrants (in Dollars per share)

$ 0.004

Issuance of common stock and warrants pursuant to July 2025 Offering, net of offering costs paid at closing and deferred offering costs (in Shares)

219,569

Class of warrant or right exercisable conversion description

Each pre-funded unit consists of one pre-funded warrant exercisable for one share of common stock (the “July 2025 Pre-Funded Warrants”) and warrants identical to the July 2025 Warrants included in the units.

Exercisable date of warrants

Jul. 16, 2025

July 2025 Offering [Member] | July 2025 A-1 Warrants [Member]

Stockholders Equity Details [Line Items]

Exercise price of warrants (in Dollars per share)

$ 7.6

Exercisable date of warrants

Jul. 16, 2025

Date of warrants exercisable expiry

Jul. 15, 2030

July 2025 Offering [Member] | July 2025 A-2 Warrants [Member]

Stockholders Equity Details [Line Items]

Exercise price of warrants (in Dollars per share)

$ 7.6

Exercisable date of warrants

Jul. 16, 2025

Date of warrants exercisable expiry

Jan. 15, 2027

July 2025 Offering [Member] | July 2025 Warrants [Member]

Stockholders Equity Details [Line Items]

Sale of stock price per share (in Dollars per share)

$ 7.6

Issuance of common stock and warrants pursuant to July 2025 Offering, net of offering costs paid at closing and deferred offering costs (in Shares)

438,332

Class of warrant or right exercisable conversion description

Each unit consisted of (i) one share of common stock, (ii) one series A-1 warrant exercisable for one share of common stock (the “July 2025 A-1 Warrants”), and (iii) one series A-2 warrant exercisable for one share of common stock (the “July 2025 A-2 Warrants” and together with the July 2025 A-1 Warrants, the “July 2025 Warrants”).

July 2025 Offering [Member] | July 2025 Placement Agent Warrants [Member]

Stockholders Equity Details [Line Items]

Exercise price of warrants (in Dollars per share)

$ 9.5

Exercise of warrants

49,342

Warrant expiry period

5 years

Exercisable date of warrants

Jul. 16, 2025

2025 ATM Agreement [Member] | Subsequent Event [Member]

Stockholders Equity Details [Line Items]

Sale of stock price per share (in Dollars per share)

$ 2.07

ATM Offering

418,602

Proceeds from common stock sales agreement net

$ 834,705

Minimum [Member]

Stockholders Equity Details [Line Items]

Reverse stock split

1:3

Maximum [Member]

Stockholders Equity Details [Line Items]

Reverse stock split

1:10

WallachBeth Capital LLC [Member]

Stockholders Equity Details [Line Items]

Purchase of granted shares

3,289

Purchased share price (in Dollars per share)

$ 92.4

WallachBeth Capital LLC [Member] | January 2024 Representative Warrants [Member]

Stockholders Equity Details [Line Items]

Purchase of common stock

1,565

Exercise price (in Dollars per share)

$ 101.64

HC Wainwright Co LLC [Member]

Stockholders Equity Details [Line Items]

Exercise price (in Dollars per share)

$ 34.5

HC Wainwright Co LLC [Member] | 2025 ATM Agreement [Member]

Stockholders Equity Details [Line Items]

ATM Offering

136,991

Common stock aggregate gross sales proceeds authorized

$ 1,397,532

Sales agent commission percentage

3.00%

Proceeds from common stock sales agreement net

$ 405,114

Series A Preferred Stock [Member]

Stockholders Equity Details [Line Items]

Preferred stock shares authorized

1,000,000

Preferred stock shares, par value (in Dollars per share)

$ 0.0001

Preferred stock shares outstanding

76,480

Preferred stock shares issued

76,480

Converted preferred Stock

2,323

Converted shares

2,323

Preferred stock converted shares (in Dollars per share)

$ 1,200

Dividends percentage

19.90%

Accrued dividends (in Dollars)

$ 501,056

$ 483,301

Common stock conversion price per share (in Dollars per share)

$ 100

Series A Preferred Stock [Member] | Knight Therapeutics, Inc. [Member]

Stockholders Equity Details [Line Items]

Preferred stock shares issued

80,965

Series A Non-Voting Convertible Preferred Stock [Member]

Stockholders Equity Details [Line Items]

Designated shares

80,965

Shares converted

80,965

Series A warrants [Member] | Pre-Funded Warrant [Member]

Stockholders Equity Details [Line Items]

Exercise of warrants

144,928

Series B Warrants [Member] | Pre-Funded Warrant [Member]

Stockholders Equity Details [Line Items]

Exercise of warrants

144,928

Pre-Funded Warrants [Member]

Stockholders Equity Details [Line Items]

Exercise price of warrants (in Dollars per share)

$ 27.6

Convertible Common Stock [Member]

Stockholders Equity Details [Line Items]

Common stock, shares issued

3,667

[1]	Weighted average remaining contractual life excludes 219,569 Pre-Funded Warrants issued July 2025 that do not have a contractual expiration date, for which 0 warrants remain outstanding and exercisable at December 31, 2025.
[2]	Weighted average remaining contractual life calculations exclude (i) 4,164 Pre-Funded Warrants issued January 2024 that do not have a contractual expiration date, for which 0 remained outstanding at December 31, 2024 and (ii) 144,928 Pre-Funded Warrants issued September 2024 that do not have a contractual expiration date, for which 96,300 remained outstanding and were exercisable at December 31, 2024.
[3]	Periods presented have been adjusted to reflect the 1:4 reverse stock split on January 20, 2026.

SHARE-BASED COMPENSATION

12 Months Ended

Dec. 31, 2025

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION

10. SHARE-BASED COMPENSATION

The following is a summary of share-based compensation expenses reported in the Consolidated Statements of Operations and Comprehensive Loss for the years ended December 31, 2025 and 2024:

	For the Year Ended December 31,
	2025		2024
Research and Development	$	-	$	3,227,300
General and Administrative Expenses		456,344		381,348
Total Share-Based Compensation Expense Included in Operating Expenses	$	456,344	$	3,608,648

Share-Based Compensation under 2022 Equity Incentive Plan

On November 22, 2022, the Company adopted the 2022 Equity Incentive Plan (the “2022 Plan”), which provides for the grant of stock options, stock appreciation rights, restricted stock, restricted stock units and performance awards to eligible employees, directors and consultants, to be granted from time to time by the Board of Directors of the Company. The 2022 Plan provides for an automatic increase in the number of shares available for issuance beginning on January 1, 2023 and each January 1 thereafter, by 4% of the number of outstanding shares of common stock on the immediately preceding December 31, or such number of shares as determined by the Board of Directors. Additionally, on July 16, 2024, November 6, 2024, and October 8, 2025 the Company’s stockholders approved an increase to the number of shares available under the 2022 Plan by 20,834 shares, 25,000 shares, and 62,500 shares, respectively. As of December 31, 2025, the number of remaining shares available for issuance under the 2022 Plan is equal to 68,760.

Stock Options

The Company grants stock options to employees, non-employees, and Directors with exercise prices equal to the closing price of the underlying shares of the Company’s common stock on the Nasdaq Capital Market on the date that the options are granted. Options granted generally have a term of five to ten years from the grant date and are subject to vesting as determined in the individual award agreement. The Company estimates the fair value of stock options on the grant date by applying the Black-Scholes option pricing valuation model.

The following table summarizes the significant assumptions used in determining the fair value of options granted during the years ended December 31, 2025 and 2024:

	2025			2024
Weighted-average grant date fair value	$	15.24		$	35.12
Risk-free interest rate		3.54%-4.36	%		3.62%-4.17	%
Expected volatility		90.00%-107.65	%		86.00%-87.00	%
Expected term (years)		3.50-4.50			6.41-10.00
Expected dividend yield		0.00	%		0.00	%

The following table summarizes the Company’s stock option activities during the year ended December 31, 2025:

	Number of Options	Weighted Average Exercise Price		Aggregate Intrinsic Value		Weighted Average Remaining Contractual Life (Years)
Options outstanding, December 31, 2024	4,414	$	257.15	$	-	9.38
Granted	38,000		21.91		-	7.00
Exercised	-		-		-	-
Forfeited	-		-		-	-
Expired	-		-		-	-
Options outstanding, December 31, 2025	42,414	$	46.39	$	-	6.41

Options vested and exercisable, December 31, 2025	21,940	$	47.18	$	-	6.49

The following table summarizes the Company’s stock option activities during the year ended December 31, 2024:

	Number of Options	Weighted Average Exercise Price		Aggregate Intrinsic Value		Weighted Average Remaining Contractual Life (Years)
Options outstanding, December 31, 2023	160	$	1,272.00	$	-	4.53
Granted	4,254		218.98		-	10.00
Exercised	-		-		-	-
Forfeited	-		-		-	-
Expired	-		-		-	-
Options outstanding, December 31, 2024	4,414	$	257.15	$	-	9.38

Options vested and exercisable, December 31, 2024	1,114	$	466.91	$	-	8.73

The aggregate intrinsic value in the tables above reflects the difference between the Company’s closing stock price on the last trading day of the period and the exercise price of the options, multiplied by the number of in-the-money stock options. The intrinsic value of stock options changes based on the price of the Company’s common stock.

On July 16, 2024, the effective date of shareholder approval to increase the number of shares available under the 2022 Plan, the Company determined that the grant date criteria (as defined in ASC 718) was met, and therefore granted 3,212 stock options to certain directors, executives, and non-employees, in accordance with the terms of the individuals’ employment or directors’ agreements, as applicable. On September 26, 2024, the Board of Directors approved the grant of an additional 1,042 stock options to an executive.

In December 2024, the Board approved the grant of a total of 30,000 stock options to two executives at a per share exercise price equal to the closing price of our common stock on January 2, 2025. On January 2, 2025, the Company determined that the grant date criteria (as defined in ASC 718) was met, and therefore granted of a total of 30,000 stock options to executives. On October 21, 2025, the Company’s Board of Directors approved the grant of 8,000 non-qualified stock options to each of the four directors (2,000 options per director) at a per share exercise price of $5.84. These stock options were fully vested on the date of grant and have a term of seven years.

For the year ended December 31, 2025, the Company recognized $279,873 of compensation expense related to stock option awards ($32,767 for the year ended December 31, 2024). No stock options were exercised, forfeited, or expired during the period presented. As of December 31, 2025, the Company had $415,553 of unrecognized share-based compensation expense related to unvested options that is expected to be recognized over a weighted-average period of approximately 3.00 years.

Annual Performance Bonus

In December 2024, the Board approved the payment of 2024 performance bonuses to executives of the Company. Each executive was provided the option of receiving up to $20,000 in cash, with the remainder paid in shares of common stock determined based on the closing market price on January 2, 2025. All shares issued are eligible for net settlement up to the maximum allowable amount according to the IRS of 22%. As the number of shares is variable, the Company determined this represents a liability for the fixed monetary amount that will be settled in shares. On January 20, 2025, the Company issued a total of 3,953 shares of common stock to the executives in settlement of the share-based portion of the 2024 performance bonuses. Approximately 688 shares were withheld to cover payroll tax withholdings. As of December 31, 2024, the share-based liability amounted to $121,544, which was presented as a component of Accounts Payable and Accrued Expenses on the accompanying Consolidated Balance Sheet.

Share-Based Payments to Vendors for Services

In 2023, the Company issued shares of common stock as share-based payments to certain vendors in exchange for services to be rendered to the Company in the future. For fully vested, nonforfeitable equity instruments that are granted at the date the Company and a nonemployee enter into an agreement for goods or services, the Company recognizes the fair value of the equity instruments as a prepaid asset on the grant date, as defined in ASC 718. The corresponding cost is expensed over the service period depending on the specific facts and circumstances of the agreement with the nonemployee. As of December 31, 2025, the unamortized balance of prepaid assets related to these share-based payments for which the grant date criteria has been met is $195,887, which is presented as a component of Prepaid and Other Assets on the accompanying Consolidated Balance Sheet. Of this amount, $66,177 will be recognized ratably over the remaining service period through May 15, 2026. The remaining $129,710 will be recognized as the related research and development services are provided, which the Company estimates will occur within one year.

The agreements with the nonemployees do not include any provisions to claw back the share-based payments in the event of nonperformance by the nonemployees. Subject to applicable federal and state securities laws, the nonemployees can sell the received equity instruments.