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WASHINGTON - 60 Degrees Pharmaceuticals (SXTP), a company specializing in infectious disease treatments, has announced the release of an 8-count bottle of ARAKODA® (tafenoquine) through major retail pharmacies, including Amazon Pharmacy. This new packaging option is tailored for individuals traveling for short periods to regions where malaria is prevalent, offering a convenient prophylactic therapy. According to InvestingPro data, the company has shown impressive revenue growth of 118% in the last twelve months, though it maintains a conservative balance sheet with more cash than debt.
ARAKODA is the only weekly prophylactic treatment that protects against all stages of malaria for adults 18 years and older. It was initially approved in the United States and Australia in 2018 and became available on the market in 2019. The drug’s long terminal half-life of approximately 16 days allows for less frequent dosing, which is advantageous for travelers.
The recommended dosage for ARAKODA involves a three-day loading phase before travel, followed by weekly doses during the trip and a final dose after travel. However, ARAKODA is not suitable for everyone. It is contraindicated for individuals with glucose-6-phosphate dehydrogenase (G6PD) deficiency, a history of psychotic disorders, or known hypersensitivity to tafenoquine or other 8-aminoquinolines.
Potential side effects of ARAKODA include hemolytic anemia, methemoglobinemia, psychiatric effects, and hypersensitivity reactions, with the most common adverse reactions being headache, dizziness, and gastrointestinal discomfort. Due to ARAKODA’s long half-life, some adverse reactions may be delayed in onset and duration.
60 Degrees Pharmaceuticals emphasizes the need for G6PD testing before prescribing ARAKODA and advises healthcare professionals to monitor patients for signs or symptoms of hemolysis. The company also cautions against the use of ARAKODA during pregnancy and breastfeeding unless the infant’s G6PD status is known and not deficient.
The introduction of the new 8-count bottle format aims to provide a more flexible option for malaria prevention for travelers, as stated in the press release. While the company’s stock has experienced significant volatility, trading between $1.41 and $35.99 over the past 52 weeks, analysts maintain a strong buy recommendation with a $7 price target. InvestingPro subscribers have access to 12 additional investment tips and comprehensive financial analysis tools for healthcare sector stocks. The information presented in this article is based on a press release statement from 60 Degrees Pharmaceuticals and financial data from InvestingPro.
In other recent news, 60 Degrees Pharmaceuticals has partnered with Yale School of Medicine and Yale School of Public Health to co-develop and commercialize tafenoquine for the treatment and prevention of babesiosis. This collaboration aims to address the limited treatment options for severe cases of babesiosis, a tick-borne disease, through a clinical trial assessing the drug’s safety and efficacy. Tafenoquine, already approved for malaria prophylaxis in the U.S. and Australia, is under investigation for its potential as the first prophylactic option for babesiosis, though it currently lacks FDA approval for this use. Meanwhile, Ascendiant Capital has adjusted its outlook on 60 Degrees Pharmaceuticals, lowering the price target to $7.00 from $8.50 while maintaining a Buy rating. This revision reflects a reassessment of the company’s fair value, now estimated at $10.9 million. The analysts cited potential growth opportunities in babesiosis as a factor in their valuation adjustment. However, they also noted significant risks, including low visibility on regulatory approval and potential dilution from future financing activities. These developments highlight ongoing evaluations of the company’s market opportunities and challenges.
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