60 Degrees Pharmaceuticals Exercises License Option with Florida State University for Large-Scale Purification of Castanospermine for Non-Rx Use
Rhea-AI Summary
60 Degrees Pharmaceuticals (NASDAQ: SXTP) exercised its option with Florida State University to negotiate an exclusive license for large-scale purification of castanospermine from Castanospermum australe seeds.
The company completed safety testing, developed prototype oral capsules, and is ready to commence a regulatory process to seek U.S. market access as a botanical non-prescription product. Prior clinical history tied to celgosivir involved more than 500 patients, which the company cites when noting human safety at achievable doses.
Positive
- Option exercised to negotiate exclusive FSU purification license
- Completed safety testing on Australian Chestnut Extract
- Developed and tested prototype oral capsule formulations
- Ready to commence U.S. regulatory process for botanical non‑Rx
Negative
- Celgosivir is no longer in commercial development for HIV and HCV
Key Figures
Market Reality Check
Peers on Argus
SXTP was flagged with an upward move while only one tracked peer (ADTX) appeared in momentum scans, moving down 5.36% without news, suggesting stock-specific dynamics rather than a sector-wide move.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Jan 22 | Commercial partnership | Positive | +152.0% | Runway Health partnership to expand ARAKODA access for malaria prevention. |
| Jan 15 | Reverse stock split | Neutral | -2.4% | Approval and execution of 1-for-4 reverse split to meet Nasdaq bid rules. |
| Dec 29 | Clinical study data | Positive | -20.6% | Detection of Babesia infection in 24% of chronic fatigue patients. |
| Dec 11 | Commercial expansion | Positive | -7.0% | Planned 2026 expansion of ARAKODA sales, marketing, and babesiosis sites. |
| Nov 21 | Trial enrollment start | Positive | +0.0% | Opening central site at Mount Sinai for B-FREE Phase 2 babesiosis study. |
Recent history shows strong gains on commercial partnerships, but notable selloffs or muted reactions to clinical and strategic updates, indicating inconsistent price responses to positive news.
Over the last few months, SXTP announced several developments, including a partnership with Runway Health for ARAKODA® access starting April 2, 2026, a 1:4 reverse split to maintain Nasdaq listing, and multiple babesiosis-related clinical initiatives such as the B-FREE Phase 2 study and site openings. Commercial expansion plans for ARAKODA and new clinical data on Babesia prevalence were followed by negative or flat price moves, while the Runway Health partnership saw a 152% jump. Today’s botanical castanospermine initiative adds a new non-prescription vector to that trajectory.
Market Pulse Summary
This announcement introduces a castanospermine-based Australian Chestnut Extract as a potential non-prescription botanical product, expanding 60 Degrees Pharmaceuticals’ scope beyond prescription ARAKODA programs. Prior news highlighted babesiosis studies, commercial expansion and a Runway Health partnership that produced a 152% move. Investors may track progress through the U.S. regulatory process for this extract, safety data, and how this non-Rx opportunity complements existing malaria and babesiosis initiatives disclosed in recent filings and studies.
Key Terms
vector-borne disease medical
immunomodulation medical
AI-generated analysis. Not financial advice.
Company ready to commence regulatory process to secure access to U.S. market for Australian Chestnut Extract as a botanical product for non-prescription uses
WASHINGTON, Jan. 28, 2026 (GLOBE NEWSWIRE) -- 60 Degrees Pharmaceuticals, Inc. (NASDAQ: SXTP; SXTPW) (“60 Degrees Pharma” or the “Company”), a pharmaceutical company focused on developing new medicines for vector-borne disease, today announced it has exercised the option in its agreement with Florida State University (FSU) to negotiate an exclusive license to use large-scale purification techniques to extract castanospermine from the seeds of Castanospermum australe (commonly known as the Australian Chestnut, the Moreton Bay Chestnut, and the Black Bean Tree).
Castanospermum australe grows primarily in the Australian states of Queensland and New South Wales, but also in Florida, Hawaii, and California. The processed seeds of Castanospermum australe have historically been a traditional food source in Australia for thousands of years.
According to recent scientific literature, at low doses, castanospermine modulates carbohydrate metabolism, altering glycogen, glucose levels, and other clinical markers. In animal models, high doses have been shown to impact disease outcomes in several therapeutic areas, through immunomodulation.
Castanospermine is also a metabolite of celgosivir, a product that has been evaluated in clinical trials in more than 500 patients against HIV and Hepatitis C. Although celgosivir is no longer in commercial development for those indications, that study history suggests castanospermine is safe at achievable doses in humans and is active against the same pharmacological targets as in animal studies.
Since signing its option agreement with FSU in April 2025, the Company has subjected Australian Chestnut Extract to safety testing to ensure compliance with relevant regulatory guidance and has developed and tested various prototype capsule formulations for oral delivery. The Company is now ready to commence a regulatory process to secure access to the U.S. market for Australian Chestnut Extract as a botanical product for non-prescription uses.
About 60 Degrees Pharmaceuticals, Inc.
60 Degrees Pharmaceuticals, Inc., founded in 2010, specializes in developing and commercializing new medicines for the treatment and prevention of vector-borne disease. The Company achieved U.S. Food and Drug Administration approval of its lead product, ARAKODA® (tafenoquine) for malaria prevention, in 2018. ARAKODA is commercially available in the U.S. and Australia. 60 Degrees Pharmaceuticals, Inc. also collaborates with prominent research and academic organizations in the U.S. and Australia. 60 Degrees Pharmaceuticals, Inc. is headquartered in Washington, D.C., with a subsidiary in Australia. Learn more at www.60degreespharma.com.
The statements contained herein may include prospects, statements of future expectations and other forward-looking statements that are based on management’s current views and assumptions and involve known and unknown risks and uncertainties. Actual results, performance or events may differ materially from those expressed or implied in such forward-looking statements.
Cautionary Note Regarding Forward-Looking Statements
This press release may contain “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward‐looking statements reflect the current view about future events. When used in this press release, the words “anticipate,” “believe,” “estimate,” “expect,” “future,” “intend,” “plan,” or the negative of these terms and similar expressions, as they relate to us or our management, identify forward‐looking statements. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy, activities of regulators and future regulations and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: there is substantial doubt as to our ability to continue on a going-concern basis; we might not be eligible for Australian government research and development tax rebates; if we are not able to successfully develop, obtain FDA approval for, and provide for the commercialization of non-malaria prevention indications for tafenoquine (ARAKODA® or other regimen) or Celgosivir in a timely manner, we may not be able to expand our business operations; we may not be able to successfully conduct planned clinical trials or patient recruitment in our trials might be slow or negligible; and we have no manufacturing capacity which puts us at risk of lengthy and costly delays of bringing our products to market. More detailed information about the Company and the risk factors that may affect the realization of forward- looking statements is set forth in the Company’s filings with the Securities and Exchange Commission (“SEC”), including the information contained in our Annual Report on Form 10-K filed with the SEC on March 27, 2025, and our subsequent SEC filings. Investors and security holders are urged to read these documents free of charge on the SEC’s website at www.sec.gov. As a result of these matters, changes in facts, assumptions not being realized or other circumstances, the Company’s actual results may differ materially from the expected results discussed in the forward-looking statements contained in this press release. Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
Media Contact:
Sheila A. Burke
SheilaBurke-consultant@60degreespharma.com
(484) 667-6330
Investor Contact:
Patrick Gaynes
patrickgaynes@60degreespharma.com
FAQ
What did 60 Degrees Pharmaceuticals (SXTP) announce about the FSU license on January 28, 2026?
How will the FSU license affect SXTP's plan to enter the U.S. market with Australian Chestnut Extract?
What safety and formulation work has 60 Degrees Pharmaceuticals completed for SXTP's botanical product?
What evidence does SXTP cite about castanospermine safety in humans for investors?
Does the announcement change SXTP's product focus or commercialization timeline?
