60 Degrees Pharma shares are trading higher after the company announced that, following a Type C meeting FDA, it will move forward with a pivotal clinical study of tafenoquine in hospitalized babesiosis patients in the U.S.
Portfolio Pulse from Benzinga Newsdesk
60 Degrees Pharma's stock is up following the announcement of a pivotal clinical study of tafenoquine for hospitalized babesiosis patients in the U.S., after a Type C meeting with the FDA.
January 22, 2024 | 5:53 pm
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60 Degrees Pharma, represented by the symbol SXTP, has seen its shares rise after announcing a pivotal clinical study of tafenoquine for babesiosis, indicating positive regulatory feedback from the FDA.
The positive news of moving forward with a pivotal clinical study typically indicates a successful outcome from the FDA meeting, which can be a significant catalyst for a biopharmaceutical company's stock price. Investors may view this as a step closer to potential approval and commercialization, thus increasing the stock's value in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100