60 Degrees Pharmaceuticals Inc. (NASDAQ:SXTP) shares fell about 6.22% to $1.35 in the pre-market session on Tuesday ahead of interim results from a trial of tafenoquine in patients hospitalized with severe babesiosis.
On Monday, the Washington-based pharmaceutical company’s stock closed at $1.44, up 3.60%, according to Benzinga Pro data.
Interim Data Due Tuesday
The stock move came before the company is set to disclose interim results from its clinical study of tafenoquine in patients hospitalized with severe babesiosis.
Babesiosis is a tick-borne disease caused by parasites that infect red blood cells. According to the company, no FDA-approved treatment or vaccine exists for it. Tafenoquine is not approved by the FDA to treat or prevent the infection.
An interim analysis is an early look at trial data, conducted before a study is complete. The company announced the Tuesday release date in a statement last week.
The company said it will also host a Key Opinion Leader investor webinar Tuesday at 11 a.m. ET. Speakers include Peter J. Krause, M.D., of Yale School of Public Health, and Edouard Vannier, Ph.D., of Tufts University School of Medicine. They will discuss unmet need in relapsing and treatment-refractory babesiosis, and the role tafenoquine could play.
The drug is not new to the company. Tafenoquine is FDA-approved to prevent malaria and is sold in the U.S. as ARAKODA and in Australia as KODATEF.
Trading Metrics, Technical Analysis
60 Degrees Pharmaceuticals has a market capitalization of $5.06 million, a 52-week high of $8.62 and a 52-week low of $0.84. The company has approximately 3.52 million shares outstanding.
The Relative Strength Index (RSI) of SXTP stands at 70.62.
The small-cap stock has declined 75.68% over the past 12 months.
SXTP is currently positioned at about 7.7% of its 52-week trading range.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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