60 Degrees Pharmaceuticals Inc (SXTP) Stock Soars 77.83% on MUMS Designation Plans

On July 15, 2025, 60 Degrees Pharmaceuticals Inc (NASDAQ:SXTP) stock surged by 77.83% in pre-market trading, driven by significant investor optimism surrounding the company's strategic initiatives.

60 Degrees Pharmaceuticals has announced its plans to pursue a Minor Use Minor Species (MUMS) designation for tafenoquine, a drug already approved for human malaria, to treat canine babesiosis. This move is aimed at addressing a critical unmet need in veterinary medicine, where current treatments for canine babesiosis are limited and often ineffective.

The company's strategic pivot to leverage the MUMS designation is expected to provide significant regulatory incentives, including market exclusivity and cost-sharing grants. This could allow 60 Degrees to capture a substantial portion of the growing pet healthcare market, which is valued at over $100 billion in the U.S. alone.

Investors have responded positively to this announcement, with the stock surging on the news. The company's plans to submit the MUMS designation request to the FDA in the third quarter of 2025 are seen as a key catalyst for future growth. The success of this submission could validate tafenoquine's broader anti-Babesia profile, potentially accelerating human trial timelines and diversifying the company's revenue streams.