60 Degrees Pharmaceuticals (SXTP) Soars 59.59% on Patent Deal

60 Degrees Pharmaceuticals (SXTP) surged 59.59% in today's trading session, marking its second consecutive day of gains with a total increase of 62.15% over the past two days. The share price reached its highest level since July 2023, with an intraday gain of 145.00%.

The primary factor driving the stock price of 60 Degrees Pharmaceuticals (SXTP) is the announcement of a Patent License Agreement with Yale School of Medicine and Yale School of Public Health on April 8, 2025. This agreement is focused on advancing the development and commercialization of tafenoquine for the treatment and prevention of babesiosis, a serious tick-borne disease. The potential for tafenoquine to address a significant unmet medical need and become the first prophylaxis available for babesiosis could have a positive impact on the company's stock price.