60 Degrees Pharmaceuticals (SXTP) said Tuesday it signed a patent license deal with Yale School of Medicine and Yale School of Public Health to jointly develop and commercialize Tafenoquine for the treatment and prevention of tick-borne disease babesiosis.
The deal comes after the start of collaboration between researchers from the organizations to look into the activity of tafenoquine against babesiosis, which is caused by microscopic parasites that infect red blood cells, the company said.
Tafenoquine currently doesn't have US Food and Drug Administration approval for babesiosis treatment and prevention, according to the company.
Shares of 60 Degrees Pharmaceuticals rose 83% in recent trading.
Price: 3.43, Change: +1.64, Percent Change: +91.68
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