60 Degrees Pharmaceuticals Stock Rises 19% After Reporting Possible Underdiagnosis Of Babesiosis

(RTTNews) - 60 Degrees Pharmaceuticals, Inc. (SXTP) climbed 19.30 percent to $3.73 during Tuesday's trading after the company released preliminary findings suggesting that the incidence of babesiosis in the U.S. may be far higher than current CDC estimates.

SXTP opened at $3.50 and touched a high of $4.42 before easing back on the Nasdaq. The stock is trading above its previous close of $3.16 on volume of 1.4 million shares, slightly below its average daily volume of 1.9 million. The stock has moved within a 52-week range of $1.41 to $36.00.

A company survey indicated that nearly 3 million Americans may have been diagnosed with the tick-borne disease, compared to the CDC's reported 1,834 cases in 2020.