Why Did 60 Degrees Pharmaceuticals Inc. (SXTP) Plunge 16.72% Despite Yale Partnership?

On April 9, 2025, 60 Degrees Pharmaceuticals Inc. (NASDAQ: SXTP) experienced a significant drop of 16.72% in pre-market trading, marking a notable decline in its stock price.

60 Degrees Pharmaceuticals has recently announced a strategic partnership with Yale School of Medicine and Yale School of Public Health. This collaboration aims to advance the development of tafenoquine, a promising treatment for babesiosis, a severe tick-borne disease with limited therapeutic options. The partnership includes a Patent License Agreement, which allows 60 Degrees Pharmaceuticals to leverage Yale's expertise and resources in developing this critical medication.

Analysts have expressed optimism about the potential of this partnership, with some projecting a significant price increase for 60 Degrees Pharmaceuticals. The consensus among brokerage firms is that the stock has an "Outperform" rating, suggesting a promising investment opportunity. This positive outlook is driven by the potential of tafenoquine to address a significant unmet medical need and the strategic advantages gained from the partnership with Yale.