STOCK TITAN

60 Degrees Pharmaceuticals, Inc. - SXTP STOCK NEWS

Welcome to our dedicated page for 60 Degrees Pharmaceuticals news (Ticker: SXTP), a resource for investors and traders seeking the latest updates and insights on 60 Degrees Pharmaceuticals stock.

60 Degrees Pharmaceuticals, Inc. (NASDAQ: SXTP) is a specialty pharmaceutical company focused on the development and commercialization of new therapies for the prevention and treatment of infectious diseases. Founded in 2010 and headquartered in Washington D.C., the company leverages biological science and applied research to combat various viral, fungal, and tick-borne diseases.

60 Degrees Pharmaceuticals' flagship product, ARAKODA® (tafenoquine), received FDA approval in 2018 for malaria prophylaxis in patients aged 18 years and older. ARAKODA® is also approved in Australia under the name KODATEF® and was launched commercially in both countries in 2019. It is available through pharmaceutical wholesaler networks and retail pharmacies as a prescription-only medication. The drug's long terminal half-life, approximately 16 days, offers potential advantages in reducing the frequency of doses required for malaria prevention.

Currently, the company is expanding its research scope to include other indications for tafenoquine, notably the treatment of acute babesiosis, a tick-borne disease. The U.S. Food and Drug Administration (FDA) recently granted orphan drug designation to tafenoquine for this purpose. This designation provides 60 Degrees Pharmaceuticals with various incentives, including market exclusivity, tax credits, and fee exemptions.

In addition to its work on babesiosis, the company is developing treatment options for COVID-19 and other infectious diseases. This includes a pilot study to evaluate the efficacy of tafenoquine in treating canine babesiosis, conducted in collaboration with North Carolina State University.

60 Degrees Pharmaceuticals continues to collaborate with prominent research organizations in the U.S., Australia, and Singapore. The company's research and development efforts have received in-kind support from the U.S. Department of Defense and private institutional investors like Knight Therapeutics Inc. The firm remains committed to advancing its pipeline products and supporting clinical trials that could significantly impact public health.

For more information about their products, ongoing trials, and latest news updates, visit www.60degreespharma.com.

Rhea-AI Summary

60 Degrees Pharmaceuticals announced IRB approval for an open-label study of the ARAKODA® regimen of tafenoquine to treat persistent babesiosis in immunocompromised patients. The study aims to replicate the 80% cure rate observed in an earlier Yale School of Public Health case series. Tafenoquine, approved for malaria prophylaxis in the U.S., has not been proven effective for babesiosis treatment or prevention. The increasing incidence of babesiosis, a tick-borne illness, particularly affects the elderly and immunosuppressed. This clinical program is now enrolling at Tufts Medical Center.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
5.63%
Tags
-
Rhea-AI Summary

60 Degrees Pharmaceuticals (SXTP) has enrolled the first patient in a groundbreaking clinical trial at Tufts Medical Center to evaluate the efficacy and safety of tafenoquine in treating human babesiosis. The randomized, double-blind, placebo-controlled study aims to enroll 24-33 participants to assess time to sustained clinical resolution and molecular cure using an FDA-approved nucleic acid test. Tafenoquine, already approved for malaria prophylaxis under the name ARAKODA, has been designated as an orphan drug by the FDA for this new indication. Babesiosis, a tick-borne disease, poses significant health risks, particularly for the elderly and immunosuppressed.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.75%
Tags
-
Rhea-AI Summary

60 Degrees Pharmaceuticals (NASDAQ: SXTP) has received FDA orphan drug designation for its tafenoquine candidate, aimed at treating acute babesiosis. This designation offers benefits such as market exclusivity, tax credits, and exemption from certain FDA fees.

The company has partnered with Tufts Medical Center to conduct the first clinical trial evaluating tafenoquine's efficacy and safety in humans, starting June 13, 2024. The trial will involve at least 24 hospitalized patients and may expand to additional sites in the Northeast U.S.

Babesiosis, a disease transmitted by ticks, can be life-threatening, especially in elderly or immunosuppressed individuals. Up to 47,600 of the estimated 476,000 Lyme disease patients in the U.S. each year may be co-infected with Babesia.

CEO Geoff Dow emphasized the need for new therapeutic options, highlighting promising animal study results for tafenoquine.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-3.84%
Tags
Rhea-AI Summary

60 Degrees Pharmaceuticals (NASDAQ: SXTP) has partnered with Tufts Medical Center to conduct the first clinical trial evaluating the safety and efficacy of tafenoquine for treating babesiosis in humans. Enrollment will begin after a site initiation visit on June 13, 2024, in Boston. The study will recruit at least 24 hospitalized patients. Babesiosis, a tick-borne disease, is becoming a significant health concern, especially among elderly and immunosuppressed patients. The company is also negotiating with other university hospitals in the Northeast U.S. to expand recruitment. Tafenoquine, known under the brand name ARAKODA®, is approved for malaria prophylaxis but not for babesiosis.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
5.45%
Tags
-
Rhea-AI Summary

60 Degrees Pharmaceuticals (NASDAQ: SXTP) will fund a study at North Carolina State College of Veterinary Medicine to test for Babesia spp in chronic fatigue syndrome (CFS) patient samples. The study will use PCR testing to detect the presence of the Babesia spp parasites in patients with chronic fatigue and neurologic symptoms. This 12-month study commences in May 2024.

Babesia spp is known to cause babesiosis, a potentially life-threatening disease in immunocompromised individuals. With an estimated 47,000 cases of babesiosis annually in the U.S, the CDC estimates CFS affects 3.3 million Americans. CEO Geoff Dow emphasized that the study aligns with the company's mission to understand the link between infectious diseases and chronic symptoms.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
24%
Tags
none
-
Rhea-AI Summary

60 Degrees Pharmaceuticals (NASDAQ: SXTP; SXTPW) reported a significant increase in its financial performance for Q1 2024. The company saw net product revenues surge by 515% year-over-year to $105.7 thousand, driven by domestic sales of ARAKODA®. Gross profit improved from a loss of $55.9 thousand in Q1 2023 to a profit of $51.0 thousand in Q1 2024. However, operating expenses rose to $1.41 million, up from $0.899 million, due to higher R&D costs, commercial promotional costs, and other expenses.

Net income for common shareholders stood at $0.309 million, or $0.03 per share, a marked improvement from a net loss of $2.601 million, or ($1.13) per share, in Q1 2023. This turnaround is attributed to a change in the fair value of liabilities and reduced interest expenses. Business highlights include the initiation of planning for a clinical study for tafenoquine for babesiosis treatment following an FDA meeting, and the appointment of Kristen Landon as Chief Commercial Officer in February 2024.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-3.18%
Tags
Rhea-AI Summary

60 Degrees Pharmaceuticals, a pharmaceutical company focusing on infectious diseases, announced a planned clinical trial of tafenoquine in treating babesiosis. This will be the first study of its kind in the U.S., aiming to address the unmet medical need for new treatment methods for babesiosis. The trial will assess the safety and efficacy of tafenoquine in combination with atovaquone-azithromycin. The Company's CEO, Dr. Geoff Dow, outlined the study protocol in response to the medical community's call for more research on babesiosis treatment.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
8.42%
Tags
-
Rhea-AI Summary

60 Degrees Pharmaceuticals, Inc. (NASDAQ: SXTP; SXTPW) has received comments from the FDA on the protocol for a clinical trial studying tafenoquine in treating babesiosis, a life-threatening tick-borne disease. The comments do not require material changes to the trial design. The Company is moving forward with trial planning and patient enrollment is expected to begin later in 2024.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-3.73%
Tags
-
Rhea-AI Summary
60 Degrees Pharmaceuticals, Inc. will sponsor a pilot study by North Carolina State University in 2024 to evaluate tafenoquine for the treatment of babesiosis in dogs, a condition where standard of care fails in 20% of cases. The drug resistance issue is also addressed as the standard of care is expensive.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.56%
Tags
none
Rhea-AI Summary
60 Degrees Pharmaceuticals, Inc. announces FDA's delay in commenting on babesiosis trial, but maintains June 1, 2024, start date. Tafenoquine, an anti-malarial ingredient, is in focus.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-7.3%
Tags
none

FAQ

What does 60 Degrees Pharmaceuticals specialize in?

60 Degrees Pharmaceuticals focuses on developing and commercializing new therapies for the prevention and treatment of infectious diseases.

What is ARAKODA®?

ARAKODA® is an FDA-approved antimalarial drug containing tafenoquine, used for malaria prophylaxis in patients aged 18 years and older.

What recent achievements has 60 Degrees Pharmaceuticals made?

The company received FDA orphan drug designation for tafenoquine for treating acute babesiosis and is conducting multiple studies on its efficacy for other conditions.

What are the current projects of 60 Degrees Pharmaceuticals?

Current projects include developing treatments for COVID-19, babesiosis, and other viral and tick-borne diseases.

Who are 60 Degrees Pharmaceuticals' key collaborators?

The company collaborates with the U.S. Department of Defense, Knight Therapeutics Inc., and various research organizations in the USA, Australia, and Singapore.

Where is 60 Degrees Pharmaceuticals headquartered?

The company is headquartered in Washington D.C., with a majority-owned subsidiary in Australia.

How can I get more information about ARAKODA®?

For detailed prescribing information and safety guidelines, visit the official website at www.60degreespharma.com.

Is tafenoquine approved for treating babesiosis?

Tafenoquine is not yet FDA-approved for treating babesiosis, but it has received orphan drug designation, and clinical trials are ongoing.

How is 60 Degrees Pharmaceuticals funded?

The company receives support from the U.S. Department of Defense, private institutional investors like Knight Therapeutics Inc., and public offerings.

How can I stay updated on the latest news from 60 Degrees Pharmaceuticals?

You can visit their website at www.60degreespharma.com for the latest updates and news releases.

60 Degrees Pharmaceuticals, Inc.

Nasdaq:SXTP

SXTP Rankings

SXTP Stock Data

2.80M
12.21M
23.67%
4.09%
2.65%
Medicinal and Botanical Manufacturing
Manufacturing
Link
United States of America
WASHINGTON