60 Degrees Pharmaceuticals Inc (NASDAQ: SXTP) stock soared after the company revealed promising results in treating a serious tick-borne illness.
On Mar. 11, the company announced that all three patients in its expanded access trial achieved a cure from relapsing babesiosis after receiving tafenoquine combined with other drugs. 60 Degrees Pharma holds commercialization rights for a specific formulation of this drug sold in the United States under the brand name ARAKODA. Its primary use is malaria prevention.
Investors reacted strongly to the development, driving the stock up about 72 per cent to close around US$3.22, reflecting excitement over the potential breakthrough.
Babesiosis is a tick-borne disease caused by Babesia parasites that attack red blood cells. Black-legged ticks transmit it, often alongside Lyme disease. Symptoms include fever, chills, fatigue, sweats and muscle pain.
While many cases stay mild or symptom-free, the illness can turn severe and sometimes life-threatening in older adults. People without a spleen or those with weakened immune systems are also at high risk of serious complications.
This trial tested tafenoquine specifically for hard-to-treat relapsing babesiosis in immunosuppressed patients who failed standard therapies like atovaquone and azithromycin. The drug regimen was utilized in the subjects for up to a year until sensitive tests confirmed no parasites remained.
Combined with earlier Yale data, seven patients across studies have shown near-100 per cent success when tafenoquine joined standard treatments. Investors rallied behind the latest news because babesiosis lacks FDA-approved therapies or vaccines and relapsing cases in vulnerable groups pose big challenges.
A potential new use for tafenoquine could open a larger market beyond malaria prophylaxis, especially with orphan drug status already granted. However, limitations temper the enthusiasm. The trial involved only three patients and did not yield the quantity of data that a large, randomized, controlled trial could. There are no placebo compared results and the sample size remains tiny.
Tafenoquine does not hold full FDA approval for babesiosis yet. The company is planning an NDA submission later this year based on ongoing trials.
Small biotechs like 60 Degrees Pharma carry high risk and volatility is common. Financially, the company generates modest revenue from ARAKODA (just shy of US$1 million per annum most recently), but remains unprofitable. The firm currently has negative cash flow and a short runway extended by recent financings.
Unfounded news runner this morning getting some nice flow.
> 60 Degrees Pharmaceuticals Announces All Patients Cured of Babesiosis After Tafenoquine Treatment in Expanded Use Clinical Trial.
$2.20 is pivot. $3.35++ daily expansion.
Play around the levels here provided.…
— PlayBookTrades 🎯 (@PlayBookTrades) March 11, 2026
Read more: 60 Degrees Pharma signs patent agreement with Yale for tick disease medicine development
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