60 Degrees signs patent license deal with Tufts Medical, says H.C. Wainwright

60 Degrees Pharmaceuticals (SXTP) on Monday announced a patent license agreement with Tufts Medical Center to jointly advance the development and commercialization of Arakoda for the treatment of babesiosis, a rare seasonal disease spread by ticks infected with microscopic parasites that infect red blood cells, H.C. Wainwright analyst Edward White tells investors in a research note. Under the terms of the patent license agreement with Tufts Medical Center, 60 Degrees and Tufts Medical Center will co-own patent applications related to Arakoda for babesiosis, and 60 Degrees will lead prosecution and maintenance activities worldwide, H.C. Wainwright says. The firm has a Neutral rating on the shares as it believes it is is difficult to evaluate the company following the discontinuation of the Covid-19 program and prior to data from the clinical babesiosis program.