Welcome to our dedicated page for 60 Degrees Pharm news (Ticker: SXTPW), a resource for investors and traders seeking the latest updates and insights on 60 Degrees Pharm stock.
60 Degrees Pharmaceuticals Inc. (SXTPW) is a clinical-stage company developing innovative therapies for infectious diseases, notably malaria prophylaxis through its FDA-approved product ARAKODA. This page serves as the definitive source for official company announcements, research milestones, and regulatory developments.
Investors and healthcare professionals will find timely updates on clinical trials, partnership agreements, and therapeutic advancements. Our curated collection includes press releases covering drug development progress, peer-reviewed research findings, and strategic initiatives in tropical medicine.
Key content areas include malaria prevention updates, babesiosis treatment research, FDA regulatory communications, and collaborative studies with academic institutions. All materials are sourced directly from company filings and verified channels to ensure reliability.
Bookmark this page for streamlined access to SXTPW's latest developments in infectious disease therapeutics. Check regularly for updates on pipeline innovations and clinical trial data impacting global health outcomes.
60 Degrees Pharmaceuticals (NASDAQ: SXTP) has signed a Patent License Agreement with Yale School of Medicine and Yale School of Public Health to advance the development and commercialization of tafenoquine for babesiosis treatment and prevention.
The agreement follows collaborative research between the organizations studying tafenoquine's activity against babesiosis, a tick-borne disease that infects red blood cells. Currently, tafenoquine is not FDA-approved for babesiosis treatment and prevention.
If approved, tafenoquine could address a significant unmet medical need, particularly for patients who progress beyond initial mild symptoms. The drug could potentially become the first prophylaxis available for babesiosis. According to Dr. Peter James Krause from Yale, relapsing babesiosis in immunocompromised patients has an estimated mortality rate of 20 percent and is challenging to treat.
60 Degrees Pharmaceuticals (NASDAQ: SXTP) reported significant financial growth for FY 2024. Net product revenues increased 140% to $607.6 thousand, driven by domestic sales of ARAKODA®. The company achieved a gross profit of $222.8 thousand in 2024, compared to a $221 thousand loss in 2023.
Operating expenses rose to $10.0 million in 2024 from $4.9 million in 2023, primarily due to non-recurring R&D charges and babesiosis clinical trial costs. Net loss widened to $8.43 million ($18.55 per share) from $3.925 million ($59.18 per share) in 2023.
Key developments include:
- FDA approval to import Kodatef® (Australian equivalent of Arakoda) due to increased U.S. demand
- Ongoing babesiosis clinical trials with interim analysis expected in Q1 2026
- Additional Arakoda supply lots scheduled for release in early Q2 2025
- Expansion of clinical studies for babesiosis treatment in various patient groups
60 Degrees Pharmaceuticals (NASDAQ: SXTP) has announced a 1-for-5 reverse stock split of its common stock, effective February 24, 2025. The primary purpose is to comply with Nasdaq's $1.00 minimum bid price requirement to maintain listing. The stock will continue trading under 'SXTP' with a new CUSIP number 83006G401.
The reverse split will automatically convert every five current shares into one new share. Proportional adjustments will be made to outstanding equity awards, warrants, convertible notes, and shares under stock incentive plans. The split won't alter the par value, authorized share count, or stockholders' percentage ownership. No fractional shares will be issued; all will be rounded up to the next whole share.
Stockholders don't need to take action, as positions will be automatically adjusted. The company notes there's no guarantee it will meet the minimum bid requirement.
60 Degrees Pharmaceuticals (NASDAQ: SXTP) announced FDA's non-objection to import KODATEF® (tafenoquine) from Australia as a one-time measure to prevent potential supply disruptions of ARAKODA® in the U.S. market. Both medications are identical antimalarial drugs for adults 18 and older, with ARAKODA being the U.S. brand name and KODATEF being the Australian version.
The company plans to import a five-month supply of KODATEF while increasing ARAKODA manufacturing capacity, responding to growing product demand and awareness in the U.S. This proactive measure aims to ensure continuous availability of tafenoquine for malaria prophylaxis to healthcare providers.
60 Degrees Pharmaceuticals (NASDAQ: SXTP) has closed a registered direct offering priced at-the-market, raising approximately $1.075 million in gross proceeds through the sale of 1,503,500 common stock shares at $0.715 per share. The company also issued unregistered short-term warrants in a concurrent private placement to purchase up to 1,503,500 shares at $0.59 per share, exercisable for 24 months.
This offering, combined with previous fundraising since early 2025, brings total gross proceeds to $2.118 million. The company plans to use the net proceeds for working capital and general corporate purposes. H.C. Wainwright & Co. served as the exclusive placement agent for the offering.
60 Degrees Pharmaceuticals (NASDAQ: SXTP) has announced a registered direct offering of 1,503,500 shares of common stock at $0.715 per share, priced at-the-market under Nasdaq rules. The company will also issue unregistered short-term warrants in a concurrent private placement to purchase up to 1,503,500 shares at $0.59 per share, exercisable for 24 months upon issuance.
The offering, expected to close around February 6, 2025, will generate gross proceeds of $1.075 million before deducting placement agent fees and expenses. H.C. Wainwright & Co. is serving as the exclusive placement agent. The company plans to use the net proceeds for working capital and general corporate purposes.
60 Degrees Pharmaceuticals (NASDAQ: SXTP) has closed its previously announced registered direct offering, raising approximately $1.043 million in gross proceeds. The offering included 1,021,549 shares of common stock at $1.021 per share, priced at-the-market under Nasdaq rules.
In a concurrent private placement, the company issued unregistered short-term warrants to purchase up to 2,043,098 shares of common stock at an exercise price of $0.771 per share. These warrants are exercisable upon issuance and will expire after 24 months.
H.C. Wainwright & Co. served as the exclusive placement agent. The company plans to use the net proceeds for working capital and general corporate purposes. The offering was conducted under a shelf registration statement that became effective on July 18, 2024.
60 Degrees Pharmaceuticals (NASDAQ: SXTP) has announced a registered direct offering priced at-the-market under Nasdaq rules, consisting of 1,021,549 shares of common stock at $1.021 per share. The company will also issue unregistered short-term warrants in a concurrent private placement to purchase up to 2,043,098 shares at $0.771 per share, exercisable for 24 months upon issuance.
The offering, expected to close around January 30, 2025, will generate gross proceeds of $1.043 million before deducting fees and expenses. H.C. Wainwright & Co. is serving as the exclusive placement agent. The company plans to use the net proceeds for working capital and general corporate purposes.
60 Degrees Pharmaceuticals (NASDAQ: SXTP) has received IRB approval for a Phase II clinical study to evaluate ARAKODA® (tafenoquine) in treating chronic babesiosis. The open-label study (NCT06656351) will assess the drug's efficacy and safety over 90 days in outpatient settings, targeting patients with presumptive chronic babesiosis who have experienced significant functional impairment for at least six months.
Patient enrollment is scheduled to begin in Q3 2025. The company estimates the total cumulative addressable market through December 2035 (U.S. patent protection end) exceeds 400,000 patients. The study aims to address an unmet medical need, as there are currently no approved treatment options for chronic babesiosis, a condition that is emerging in new regions of the U.S.
60 Degrees Pharmaceuticals (NASDAQ: SXTP) has initiated enrollment in an expanded access clinical study for tafenoquine in treating persistent babesiosis. The study aims to confirm the drug's effectiveness in patients who have failed standard care treatment and are at high relapse risk.
Recent clinical case studies showed tafenoquine achieved an 80% cure rate in five high-risk patients with persistent, relapsing babesiosis who failed prior treatments. Babesiosis, a potentially life-threatening tick-borne disease transmitted by the black-legged tick, shows increasing incidence in the Northeast U.S.
The company estimates the total cumulative accessible market through December 2035 (U.S. patent protection end) may exceed 400,000 patients. While tafenoquine is currently approved as ARAKODA for malaria prophylaxis, it has not been proven effective or received FDA approval for babesiosis treatment or prevention.
FAQ
What is the current stock price of 60 Degrees Pharm (SXTPW)?
