Nasdaq Issues Immediate Delisting Notice for Common Stock and Warrants Due to Bid Price Deficiency and Prior Reverse Split
SXTP has more than doubled off its 52-week low of $1.36.
Summary
60 Degrees Pharmaceuticals received an immediate delisting notice from Nasdaq for failing to meet the minimum bid price requirement, exacerbated by a prior reverse stock split that disqualifies it from a compliance period.
Key Events · Corporate Governance and Compliance · SXTP
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Received Nasdaq Delisting Notice
On January 20, 2026, the company received a notice from Nasdaq indicating a determination to delist its common stock and warrants from The Nasdaq Capital Market.
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Failed Minimum Bid Price Rule
Nasdaq staff determined the common stock failed to maintain a minimum bid price of $1.00 per share for 30 consecutive business days, violating Nasdaq Listing Rule 5550(a)(2).
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Immediate Delisting Due to Prior Reverse Split
The company is not eligible for a compliance period under Nasdaq Listing Rule 5810(c)(3)(A)(iv) because it effected a 1-for-5 reverse stock split on February 24, 2025, leading to immediate delisting.
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Warrants Also Subject to Delisting
The company's warrants (SXTPW) are also subject to delisting under Nasdaq Listing Rule 5560(a) as the underlying common stock will no longer be listed.
Analysis · SXTP · Life Sciences
60 Degrees Pharmaceuticals, Inc. faces an immediate delisting from Nasdaq, a critical event for a micro-cap company. The delisting notice stems from the company's failure to maintain the minimum $1.00 bid price. Crucially, Nasdaq denied a compliance period due to a prior 1-for-5 reverse stock split in February 2025, making the delisting effective immediately. While the company has appealed the decision, there is no guarantee of a favorable outcome, creating significant uncertainty for investors. This event severely impacts the company's ability to access capital markets and maintain investor confidence, especially following a recent 1-for-4 reverse stock split on January 20, 2026, which was likely an attempt to regain compliance.
At the time of this filing, SXTP was trading at $4.67 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $2.1M. The 52-week trading range was $1.36 to $24.00. This filing was assessed with negative market sentiment and an importance score of 9 out of 10.