Full Press Release Details
60 Degrees Pharmaceuticals Awarded Contract
with U.S. Army for ARAKODA Supply Chain Upgrade Support
WASHINGTON, D.C., July 25, 2024 - 60 Degrees
Pharmaceuticals, Inc (NASDAQ: SXTP; SXTPW) (the "Company"), a pharmaceutical company focused on developing new medicines for
infectious diseases, announced today that it has been awarded a fixed-price contract with the United States Army Medical Materiel Development
Activity to support commercial validation of new bottle and replacement blister packaging of ARAKODA (tafenoquine),
the Company's malaria prevention product.
This follows the implementation of an increased
tablet compression batch size in Q1 2024, planned in anticipation of increasing sales volume in 2024. Recently, 60 Degrees Pharmaceuticals
announced that Q1 2024 ARAKODA net sales revenues increased 515% year-over-year to $105.7 thousand.
"Supply chain upgrade support from the United
States Army Medical Materiel Development Activity is most welcome and important to our primary commercial goal of ensuring a sustainable
supply of ARAKODA for our civilian and military customers in the U.S.," said Chief Executive Officer of 60 Degrees Pharmaceuticals,
Geoff Dow. "We are very proud of our uninterrupted supply of ARAKODA to the U.S. market, even in light of the earlier impact of
the pandemic on international travel. We anticipate that, increasingly and over time, the U.S. healthcare provider community will recognize
the advantages of using ARAKODA for malaria prevention. Also, the potential life-saving role the product may play in the treatment of
all forms of babesiosis in the future is certainly very exciting."
is a steadily emerging, tick-borne disease transmitted through the bite of the black-legged (deer) tick, the vector that spreads Lyme
disease. An orphan disease, babesiosis may be life-threatening in elderly and immunosuppressed patients.
is indicated for the prophylaxis of malaria in patients aged 18 years and older. Tafenoquine
is approved for malaria prophylaxis in the United States under the product name ARAKODA . The safety of the approved regimen
of tafenoquine for malaria prophylaxis has been assessed in five separate randomized, double-blind, active comparator or placebo-controlled
trials for durations of up to six months. Tafenoquine has not been proven to be effective for treatment or prevention of babesiosis
and is not approved by the U.S. Food and Drug Administration for such an indication.
About ARAKODA (tafenoquine)
Tafenoquine was discovered by Walter Reed Army
Institute of Research with funding from the United States Army Medical Materiel Development Activity. Tafenoquine was approved for malaria
prophylaxis in 2018 in the United States as ARAKODA and in Australia as KODATEF . Both were commercially launched in 2019 and
are currently distributed through pharmaceutical wholesaler networks in each respective country. They are available at retail pharmacies
as a prescription-only malaria prevention drug.
60 Degrees Pharmaceuticals, Inc.
60 Degrees Pharmaceuticals, Inc., founded in 2010,
specializes in developing and marketing new medicines for the treatment and prevention of infectious diseases that affect the lives of
millions of people. 60 Degrees Pharmaceuticals, Inc. achieved FDA approval of its lead product, ARAKODA (tafenoquine), for
malaria prevention, in 2018. 60 Degrees Pharmaceuticals, Inc. also collaborates with prominent research organizations in the U.S., Australia,
and Singapore. The 60 Degrees Pharmaceuticals, Inc. mission has been supported through in-kind funding from the U.S. Department of Defense
and private institutional investors including Knight Therapeutics Inc., a Canadian-based pan-American specialty pharmaceutical company.
60 Degrees Pharmaceuticals, Inc. is headquartered in Washington D.C., with a majority-owned subsidiary in Australia. Learn more at www.60degreespharma.com.
The statements contained herein may include
prospects, statements of future expectations and other forward-looking statements that are based on management's current views and assumptions
and involve known and unknown risks and uncertainties. Actual results, performance or events may differ materially from those expressed
or implied in such forward-looking statements. The statements expressed herein are those of 60 Degrees Pharmaceuticals, Inc. and do not
necessarily represent those of the U.S. Department of Defense.
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actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you
should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial
condition to differ materially from those indicated in the forward-looking statements include, among others, the following: there is
substantial doubt as to our ability to continue on a going-concern basis; we might not be eligible for Australian government
research and development tax rebates; if we are not able to successfully develop, obtain FDA approval for, and provide for the
commercialization of non-malaria prevention indications for tafenoquine (ARAKODA or other regimen) or Celgosivir in a
timely manner, we may not be able to expand our business operations; we may not be able to successfully conduct planned clinical
trials; and we have no manufacturing capacity which puts us at risk of lengthy and costly delays of bringing our products to
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including the information contained in our Annual Report on Form 10-K filed with the SEC on April 1, 2024, and our subsequent SEC
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