Pharma Co. Signs License Agreement With Boston Medical Center
Research Report

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Disclosures for H.C. Wainwright & Co., 60 Degrees Pharmaceuticals Inc., December 23, 2024

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H.C. WAINWRIGHT & CO, LLC RATING SYSTEM: H.C. Wainwright employs a three tier rating system for evaluating both the potential return and risk associated with owning common equity shares of rated firms. The expected return of any given equity is measured on a RELATIVE basis of other companies in the same sector. The price objective is calculated to estimate the potential movements in price that a given equity could reach provided certain targets are met over a defined time horizon. Price objectives are subject to external factors including industry events and market volatility.

H.C. Wainwright & Co, LLC (the “Firm”) is a member of FINRA and SIPC and a registered U.S. Broker-Dealer. I, Edward White , certify that 1) all of the views expressed in this report accurately reflect my personal views about any and all subject securities or issuers discussed; and 2) no part of my compensation was, is, or will be directly or indirectly related to the specific recommendation or views expressed in this research report; and 3) neither myself nor any members of my household is an officer, director or advisory board member of these companies. None of the research analysts or the research analyst’s household has a financial interest in the securities of 60 Degrees Pharmaceuticals, Inc. (including, without limitation, any option, right, warrant, future, long or short position). As of November 30, 2024 neither the Firm nor its affiliates beneficially own 1% or more of any class of common equity securities of 60 Degrees Pharmaceuticals, Inc..

Neither the research analyst nor the Firm knows or has reason to know of any other material conflict of interest at the time of publication of this research report. The research analyst principally responsible for preparation of the report does not receive compensation that is based upon any specific investment banking services or transaction but is compensated based on factors including total revenue and profitability of the Firm, a substantial portion of which is derived from investment banking services. The Firm or its affiliates did receive compensation from 60 Degrees Pharmaceuticals, Inc. for investment banking services within twelve months before, and will seek compensation from the companies mentioned in this report for investment banking services within three months following publication of the research report. H.C. Wainwright & Co., LLC managed or co-managed a public offering of securities for 60 Degrees Pharmaceuticals, Inc. during the past 12 months. The Firm does not make a market in 60 Degrees Pharmaceuticals, Inc. as of the date of this research report.

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In a December 23, 2024 research note, H.C. Wainwright & Co. analyst Edward White maintained a Neutral rating on 60 Degrees Pharmaceuticals Inc. (SXTP:NASDAQ) with no price target following the announcement of a patent license agreement with Tufts Medical Center for Arakoda.

The company announced a partnership to advance Arakoda (tafenoquine) for babesiosis, which the report describes as "a rare seasonal disease spread by ticks infected with microscopic parasites that infect red blood cells." Arakoda is currently marketed as an anti-malaria medicine for patients 18 and older in the U.S., and as Kodatef in Australia.

Under the agreement terms, "60 Degrees and Tufts Medical Center will co-own patent applications related to Arakoda for babesiosis" with 60 Degrees leading global prosecution and maintenance activities. The company will hold exclusive global commercialization rights, while Tufts Medical Center retains "a royalty-free, global license for research purposes and is entitled to receive royalties on net sales."

The company is currently conducting a Phase 2/3 trial evaluating Arakoda for babesiosis. According to the report, the study is a "randomized, double-blind, multisite, placebo-controlled trial" examining "the efficacy and safety of the Arakoda regimen of tafenoquine at 800mg in combination with standard of care medications." The trial aims to enroll between 24-33 patients, with completion expected before September 30, 2025, and an interim analysis possible in early 2026.

White maintains a Neutral rating, stating, "We believe it is difficult to evaluate the company post the discontinuation of the COVID-19 program and prior to data from the clinical babesiosis program." He added that they "have little insight into the malaria market at this time and await the company's findings from its pilot program."

The analyst outlined several risks, including "commercial . . . regulatory . . . development . . .  manufacturing . . . financial . . . liability . . . dilution . . .  and intellectual property."

The share price at the time of the report of US$1.26 represents a market capitalization of US$3 million.