New York, May 25, 2026, 14:05 EDT
60 Degrees Pharmaceuticals Inc. (SXTP) goes into Tuesday with shares at $1.48, unchanged during a quiet session as U.S. stock markets closed Monday for Memorial Day. Investors are watching for a possible update as an FDA notification deadline falls the same day. According to the holiday calendar, markets were closed May 25, with usual trading hours set for 9:30 a.m. to 4 p.m. ET on standard days.
No Monday tape and thin trading could hit the next move in SXTP. The stock dipped 0.7% Friday with 49,620 shares trading. Still, SXTP climbed 6.5% over the week, moving from $1.39 last Friday to $1.48 at the May 22 close.
FDA deadline looms for Australian Chestnut Extract NDIN A regulatory catalyst is coming up, but it’s not about a drug approval. A New Dietary Ingredient Notification (NDIN) for Australian Chestnut Extract was filed, and 60 Degrees said the FDA had until May 25 to object. NDINs are premarket notices that give the FDA safety data on some new dietary supplement ingredients.
Company added Eric Francois to its board, a new 8-K from May 18 showed. Francois started as director on May 13. The filing listed him as a healthcare and life-sciences finance executive, with investment banking jobs at Raymond James and Credit Suisse, a past CFO role at SCYNEXIS, and currently an independent director at CERo Therapeutics.
60 Degrees is still working with a small revenue base. First-quarter net product revenue came in at about $162,000, down from $164,000 last year. Gross profit dropped to $76,000 from $90,000. Operating expenses moved up to $2.17 million. The net loss for common shareholders was $2.21 million, or $1.28 a share.
ARAKODA is the main product for 60 Degrees Pharmaceuticals—a tafenoquine pill for malaria prevention approved in the U.S. and Australia. In April, the company partnered with Runway Health to let travelers get prescriptions online. “More convenient and accessible,” is how chief commercial officer Kristen Landon put it. Runway founder and CEO Josh Rome said ARAKODA gives travelers “another effective malaria prevention option.” 60 Degrees Pharmaceuticals, Inc.
The space is crowded and familiar. The CDC includes atovaquone-proguanil, doxycycline, and tafenoquine as proven chemoprophylaxis drugs—meaning they’re used to prevent malaria—in places where mefloquine resistance is an issue. That sets ARAKODA in direct competition with long-standing daily pills, not just other small biotech players.
Street signals were split late last week. StockAnalysis.com said Ascendiant Capital Markets’ Lucas Ward kept his strong-buy but trimmed his target from $4.20 to $3.70 on May 22, and H.C. Wainwright’s Matthew Keller lowered his rating to hold on May 20.
Balance sheet issues remain tough. The company’s latest quarterly filing showed $3.34 million in cash and equivalents as of March 31, with $2.74 million burned through operations in the quarter. It expects funding only until mid-September 2026, not counting some possible licensing or supply-chain costs, and flagged “substantial doubt” about its ability to keep operating as a going concern. The filing also noted that after a drop in its stock price, there was no capacity left as of March 31 to sell more shares under its at-the-market program, which allows companies to drip shares into the market. SEC
Trading stays tight for the holiday-shortened week. Watching SXTP, investors are waiting for volume at the open, any direct word from the company about Australian Chestnut Extract, and some signal that the malaria business might ramp hard enough to matter.
Headline risk for this Nasdaq name isn’t just about a single number right now. Shares don’t trade with much volume. The company has an FDA decision pending today. There’s a new board pick with a finance background. Cash burn and runway are still top risks in the story.
