Nasdaq Issues Immediate Delisting Notice for Common Stock and Warrants Due to Bid Price Deficiency and Prior Reverse Split

summarizeSummary

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.

check_boxKey Events

• 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.

• 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).

• 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.

• 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.

auto_awesomeAnalysis

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.