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Cheryl Xu, a director at 60 Degrees Pharmaceuticals , Inc. (NASDAQ:SXTP), recently acquired additional shares in the company, according to a recent SEC filing. On June 3, 2025, Xu purchased a total of 5,000 shares of common stock in two separate transactions. The shares were bought at prices ranging from $2.87 to $2.90 per share, amounting to a total investment of $14,410. The purchase comes as the stock shows signs of recovery, with InvestingPro data showing a 14.7% gain over the past week, despite an 85.7% decline over the past year.
Following these transactions, Xu’s total direct ownership in the company increased to 15,816 shares. This acquisition reflects Xu’s continued confidence in the company’s prospects, as she increases her stake in the pharmaceutical firm. According to InvestingPro data, the company maintains a healthy liquidity position with a current ratio of 3.13 and holds more cash than debt on its balance sheet. For comprehensive insider trading analysis and 12 additional ProTips, subscribers can access the full range of metrics on InvestingPro.
In other recent news, 60 Degrees Pharmaceuticals has introduced new packaging for its malaria drug, ARAKODA®, now available in an 8-count bottle through major retail pharmacies like Amazon (NASDAQ:AMZN) Pharmacy. This packaging is designed for travelers needing short-term prophylactic therapy against malaria. In another development, Ascendiant Capital has adjusted its outlook on 60 Degrees Pharmaceuticals by lowering the stock price target to $7.00 from the previous $8.50, maintaining a Buy rating. Analysts at Ascendiant Capital noted a potentially larger opportunity in Babesiosis but also highlighted significant risks, such as low regulatory approval visibility and potential future financing dilution.
Additionally, 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 partnership aims to address the limited treatment options for the tick-borne disease, which can be severe. A clinical trial is underway to evaluate the safety and efficacy of tafenoquine in treating babesiosis, with interim analysis planned. Tafenoquine, marketed as ARAKODA®, is already approved for malaria prophylaxis in the U.S. and Australia. These developments reflect the company’s ongoing efforts to expand its therapeutic offerings and explore new market opportunities.
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