60 Degrees Pharmaceuticals Reports Doubling of Q2 2024 Revenues and Advances Clinical Trials

Proactive - Interviews for investors

60 Degrees Pharmaceuticals CEO Geoff Dow joined Steve Darling from Proactive to share the company’s financial results for the second quarter of 2024 with Proactive, highlighting significant progress in both revenue growth and clinical development. Focused on developing new medicines for infectious diseases, the company saw its Q2 2024 net product revenues double year-over-year to $125,000. Additionally, quarter-over-quarter net product revenue increased by 18.3%, while gross profit rose to $35,000, reflecting a strong financial performance for the quarter. During this period, 60 Degrees Pharmaceuticals achieved a major milestone by enrolling the first patient in its clinical trial of tafenoquine for Babesiosis at Tufts Medical Center. Tafenoquine, which has received FDA Orphan Drug Designation for the treatment of patients with acute Babesiosis, represents a significant step forward in addressing this rare but serious tick-borne illness. This designation not only recognizes the potential of tafenoquine as a treatment option but also provides certain benefits that could expedite its development and approval process. Dow also discussed a key collaboration with the University of Kentucky, where the company has granted the university a right of reference to its New Drug Application (NDA) for ARAKODA. ARAKODA, approved by the U.S. Food and Drug Administration (FDA) in 2018, is an anti-malarial medication indicated for the prophylaxis of malaria in patients aged 18 years and older. This right of reference will allow the FDA to review critical clinical efficacy and safety data, as well as non-clinical and manufacturing information related to ARAKODA, as part of its review of the University of Kentucky’s investigational SJ733 Phase IIb program. This collaboration not only underscores 60 Degrees Pharmaceuticals' commitment to advancing treatments for infectious diseases but also enhances the potential impact of its existing portfolio in combating other serious illnesses. With a strong financial footing and ongoing clinical advancements, 60 Degrees Pharmaceuticals is well-positioned to make significant strides in the field of infectious disease treatment. #proactiveinvestors #60degreespharmaceuticalsinc #nasdaq #sxtp #sxtpw #Pharmaceuticals #InfectiousDiseases #MalariaPrevention #Babesiosis #ARAKODA #ClinicalTrials #Q22024 #RevenueGrowth #FDAApproval #Biotech ```#invest #investing #investment #investor #stockmarket #stocks #stock #stockmarketnews