60 Degrees Pharmaceuticals Inc. (NASDAQ:SXTP) shares are surging on Friday following the company’s announcement of clinical trial agreements for their Tafenoquine Babesiosis study.

What Happened: The company has signed clinical trial agreements with Yale University, Rhode Island Hospital and Tufts Medical Center. This marks the world’s first randomized, double-blind, placebo-controlled clinical trial evaluating the efficacy and safety of tafenoquine in treating human babesiosis patients. Patient enrollment has commenced and interim results are expected by September 2025.

Babesiosis, an emerging tick-borne disease in the Northeast U.S., can be life-threatening, especially in elderly and immunosuppressed patients. Recent medical studies suggest that tafenoquine, combined with standard-of-care treatments, shows a high cure rate in immunosuppressed patients with relapsing babesiosis who failed prior treatments. This trial aims to address the rising incidence and provide effective treatment options.

Dr. Geoff Dow, CEO of 60 Degrees Pharmaceuticals, emphasized the importance of the trial in addressing babesiosis treatment needs. He highlighted the significance of partnering with leading medical centers to shed light on how best to treat this condition.

SXTP Price Action: 60 Degrees Pharmaceuticals shares were up by 48% at 36 cents according to Benzinga Pro.

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