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WASHINGTON, DC—Cheryl Xu, a director at 60 Degrees Pharmaceuticals , Inc. (NASDAQ:SXTP), recently acquired additional shares of the company’s common stock, according to a filing with the Securities and Exchange Commission. On June 3, 2025, Xu purchased a total of 5,000 shares, with transaction prices ranging from $2.87 to $2.90 per share. This acquisition amounts to a total investment of approximately $14,410.
Following these transactions, Xu’s direct ownership in the company increased to 15,816 shares. This adjustment also reflects a 1-for-5 reverse stock split that took effect on February 24, 2025, which recalibrated her holdings from 54,078 shares to 10,816 shares, with fractional shares being rounded up. The company maintains a healthy liquidity position with a current ratio of 3.13, though InvestingPro analysis indicates an overall weak financial health score, with 13 additional key insights available to subscribers.
In other recent news, 60 Degrees Pharmaceuticals has introduced an 8-count bottle of ARAKODA® (tafenoquine) through major retail pharmacies, including Amazon (NASDAQ:AMZN) Pharmacy. This new packaging is designed for travelers needing convenient malaria prophylaxis. In another development, 60 Degrees Pharmaceuticals has partnered with Yale School of Medicine and Yale School of Public Health to co-develop tafenoquine for the treatment and prevention of babesiosis. This collaboration is based on promising initial research, although tafenoquine is not yet FDA-approved for babesiosis. A clinical trial is underway to evaluate its safety and efficacy in treating severe cases of the disease.
Furthermore, Ascendiant Capital has adjusted its outlook on 60 Degrees Pharmaceuticals by lowering the stock price target to $7.00 from $8.50, while maintaining a Buy rating. The revised target reflects a reassessment of the company’s fair value, now estimated at $10.9 million. Analysts noted a potentially larger opportunity in babesiosis but highlighted significant risks, such as regulatory approval challenges and potential dilution from future financing activities. These recent developments are shaping the ongoing assessments of 60 Degrees Pharmaceuticals’ market opportunities and challenges.
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