60 Degrees Pharmaceuticals announces 1-for-5 reverse stock split
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Feb 20 2025
0mins
Should l Buy SXTP?
Reverse Stock Split Announcement: 60 Degrees Pharmaceuticals will implement a 1-for-5 reverse stock split of its common stock, effective February 24, to comply with Nasdaq's minimum bid price requirement.
Compliance Uncertainty: The company acknowledged that there is no guarantee it will meet the minimum bid price requirement after the split.
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Analyst Views on SXTP
Wall Street analysts forecast SXTP stock price to fall
1 Analyst Rating
0 Buy
1 Hold
0 Sell
Hold
Current: 3.950
Low
3.40
Averages
3.40
High
3.40
Current: 3.950
Low
3.40
Averages
3.40
High
3.40
About SXTP
60 Degrees Pharmaceuticals, Inc. is a specialty pharmaceutical company. The Company specializes in developing and marketing new medicines for the treatment and prevention of infectious diseases. It is focused on using biological science and applied research to develop and commercialize new therapies for the prevention and treatment of infectious diseases. The Company's pipeline under development covers development programs for vector-borne, fungal, and viral disease utilizing three of the Company’s products: new products that contain the ARAKODA regimen of Tafenoquine; new products that contain Tafenoquine, and Celgosivir. Its lead product, ARAKODA is used for malaria prevention in individuals 18 years and older. It is also conducting due diligence activities in relation to potential in-licensing of a product relevant to Lyme disease and an antimalarial combination partner for Tafenoquine for P. vivax malaria.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Sales Growth: The company's quarterly sales reached $7.386 billion, exceeding expectations of $7.068 billion, reflecting its competitive edge amid recovering market demand and potentially driving future business expansion.
- Stock Price Surge: Baker Hughes shares rose 3.7% to $55.81 in pre-market trading, indicating a positive market reaction to its financial performance, which may attract more investor interest.
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See More
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- Sales Performance Miss: Abbott Laboratories reported Q4 2025 sales of $11.46 billion, slightly below the consensus estimate of $11.80 billion, with a 4.4% increase in sales but only 3% organic growth, indicating competitive pressure in the market.
- Earnings Outlook Disappointment: Although adjusted earnings per share of $1.50 met Wall Street expectations, the overall performance failed to boost investor confidence, resulting in a stock drop of over 7% on Thursday, reflecting concerns about future growth.
- Market Reaction Intense: Following Abbott's earnings report, the significant stock decline illustrates investor pessimism regarding the company's future performance, which may impact its market position in the MedTech sector.
- Industry Impact Significant: Abbott's disappointing results could trigger a ripple effect across the MedTech industry, prompting investors to reassess the financial health of other related companies, potentially leading to overall valuation fluctuations in the sector.
See More
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- Market Reaction: Following the partnership announcement, 60 Degrees' stock surged over 161% in Thursday's pre-market trading, reflecting strong investor confidence in the company's growth potential.
- Product Uniqueness: Arakoda is the only broad-spectrum, once-weekly malaria prevention option approved by the FDA in the U.S., addressing the urgent need for effective preventive measures among international travelers and solidifying the company's market position.
- Enhanced User Experience: Through Runway Health's telehealth platform, travelers can consult with healthcare providers online before departure and receive home delivery of medications, significantly improving user convenience and accessibility to medical services.
See More
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- P&G's Strong Performance: Procter & Gamble reported Q2 adjusted EPS of $1.88, beating the analyst consensus of $1.86, although quarterly sales of $22.208 billion fell short of the expected $22.282 billion, indicating the company's efforts in cost control amidst mixed results.
- Notable Stock Surges: Shares of 60 Degrees Pharmaceuticals skyrocketed 297% to $7.94 after announcing a partnership with Runway Health to expand pre-departure access to ARAKODA, demonstrating strong market reaction to new collaborations.
- Energy Sector Decline: Despite the overall market rise, energy stocks dipped 0.4% on Wednesday, suggesting potential challenges in supply-demand balance within the sector, prompting investors to monitor future market dynamics.
See More
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- Reverse Stock Split: 60 Degree Pharmaceuticals plans to implement a 1-for-4 reverse stock split effective January 20, 2026, aimed at regaining compliance with Nasdaq's minimum bid price requirement and stabilizing its capital market position.
- Shareholder Approval: The plan received shareholder approval at a special meeting in October 2025 and subsequent board authorization in December, reflecting strategic decision-making supported by shareholders.
- Reduction in Shares: The reverse split will reduce the number of outstanding shares from approximately 5.15 million to about 1.29 million, with no change to the stock's par value or authorized share count, ensuring minimal impact on shareholders' percentage ownership.
- Market Performance: SXTP has traded between $0.34 and $6 over the past year, closing yesterday at $0.46, down 2.39%, and the reverse split is expected to enhance market confidence and attract investor interest.
See More
