Summary by Moomoo AI
60 Degrees Pharmaceuticals, a pharmaceutical company, has reported its annual financial performance and business developments. The company has decided not to recognize the benefits of U.S. Federal, state, and net deferred tax assets, leading to a full valuation allowance against its net deferred tax assets as of December 31, 2023, and December 31, 2022. The company did not establish reserves for uncertain tax positions as of the end of 2023 and 2022. Significant customers accounted for 92% of receivables and 93% of total net revenues as of December 31, 2023. The company's largest customer, the US government, ended its purchase support contract and clinical study in 2022, and no significant receivables or revenues from the government are anticipated in the near term. The company has exclusive relationships with distributors in...Show More
