60 Degrees Pharmaceuticals (NASDAQ: SXTP ) stock is gaining on Monday after the specialty pharmaceutical company announced an agreement with the University of Kentucky. This agreement will have the University of Kentucky conducting a Phase IIb clinical trial of SJ733. This is a drug candidate in development by 60 Degrees Pharmaceuticals for the treatment of vivax malaria.
This study will cover the use of SJ733 alongside tafenoquine to treat vivax malaria. The information from this study will also be applied to 60 Degrees Pharmaceuticals New Drug Application (NDA) for the drug. Dr.
R. Kip Guy, the principal investigator of the study, said the following about it: What This Means for SXTP Stock This new clinical trial news has SXTP stock heading higher on Monday with heavy trading of the shares. That has more than 11.
9 million shares changing hands as of this writing. To put that in perspective, the company’s daily average trading volume is about 448,000 shares. SXTP stock is up 28.
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