Washington – 60 Degrees Pharmaceuticals Inc. (NASDAQ: SXTP; SXTPW), a company specializing in the development of infectious disease treatments, has initiated a clinical trial in collaboration with Brigham and Women’s Hospital (BWH) to evaluate the safety and efficacy of tafenoquine. , a drug currently approved for malaria prophylaxis, in combination with standard treatments for babysiosis in hospitalized patients.
The study is a randomized, double-blind, placebo-controlled trial that also includes research sites at Tufts. medical (TASE:) Center, Yale University, and Rhode Island Hospital. The trial will focus on two primary endpoints: time to sustained clinical resolution of symptoms and time to molecular cure as determined by a US Food and Drug Administration (FDA)-approved nucleic acid test. Recruitment for the trial is scheduled to begin in the summer of 2025, with an interim analysis expected in early 2026, aiming to enroll between 24 and 33 patients. While the company maintains a healthy current ratio of 5.26 and holds more cash than debt, Investment Prof The analysis indicates a rapid cash burn rate that investors should monitor.
Babesiosis is a tick-borne disease caused by the Babesia parasite, which is often found as a co-infection with Lyme disease. The disease can be life-threatening, especially in the elderly and immunocompromised individuals. Cases of babyiosis have increased in the northeastern United States.
Geoffrey Dow, PhD, CEO and President of 60 Degrees Pharmaceuticals, expressed optimism about the collaboration with BWH, which aims to address the unmet medical need for effective babycosis treatments during the 2025 tick season and potentially improve the clinical trial enrollment process. to make .
Tafenoquine, marketed under the name ARAKODA®, was approved by the FDA in 2018 for the prevention of malaria. The drug has been evaluated in several randomized trials for up to six months of use. However, it is not approved for the treatment or prevention of babesiosis.
The company estimates that the total cumulative accessible market for tafenoquine for babesiosis could exceed 400,000 patients by the end of US patent protection in December 2035. Despite this possibility, financial metrics Investment Prof The negative gross profit margin for the current year shows significant challenges, including a decline in projected earnings. InvestingPro subscribers can access 12 additional key insights about SXTP’s financial health and growth prospects. It is important to note that while a case study series has suggested a high cure rate for tafenoquine in immunosuppressed patients with recurrent babesiosis, the drug’s efficacy for babesiosis has not yet been proven and does not currently have an FDA-approved indication. is
This article is based on a press release issued by 60 Degrees Pharmaceuticals.
In more recent news, 60 Degrees Pharmaceuticals has seen significant growth. The pharmaceutical company received shareholder approval for several key proposals at its special stockholders’ meeting. These include the exercise of warrants, an amendment to its equity incentive plan, and a reverse stock split.
Additionally, 60 Degrees Pharmaceuticals launched a pilot program to promote its anti-malarial drug, ARAKODA. Despite a net loss due to increased operating expenses, the company’s Q2 revenue doubled, driven by a 288% increase in ARAKODA’s pharmacy deliveries.
In addition, the Company disclosed a private placement sale of shares and warrants, with HC Wainwright & Company as the exclusive placement agent. The company also initiated a clinical trial for the treatment of babesiosis and received FDA orphan drug designation for it. Ascendant Capital maintained its buy rating on 60 Degrees Pharmaceuticals. These are some of the recent developments within the company.
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