Skip to Content
Global News Select

60 Degrees Pharmaceuticals Shares Slide 20% After Withdrawing Drug Application for Covid-19 Treatment

By Ben Glickman


Shares of 60 Degrees Pharmaceuticals traded lower after the company said it had withdrawn its investigational new drug application for the use of tafenoquine to treat Covid-19.

The stock was down 20% to 92 cents in after-hours trading, after rising 4% at Monday's close. Shares are down 24% in the last month after beginning trading in July.

The Washington-based developer of treatments for infectious diseases said it was withdrawing its IND after receiving comments from the Food and Drug Administration about its study design.

The company's ACLR8-LR study is a Phase 2B study of the use of tafenoquine, a malaria treatment, to treat Covid-19. The company plans to submit a new IND in the fourth quarter.

60 Degrees has paused start-up activities for its Phase 2B trial, which it said would decrease its burn rate and improve its cash position. It may decide to self-fund its study or to seek a strategic partner, depending on FDA feedback.


Write to Ben Glickman at


(END) Dow Jones Newswires

September 18, 2023 18:19 ET (22:19 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.

Market Updates

Stock Picks