Summary by Moomoo AI
On June 11, 2024, 60 Degrees Pharmaceuticals, Inc. announced that the U.S. Food and Drug Administration (FDA) has granted orphan drug designation to its investigational drug tafenoquine for the treatment of acute babesiosis. This designation provides the company with benefits such as market exclusivity, tax credits, and exemption from certain FDA fees. The company has also partnered with Tufts Medical Center to conduct the first clinical trial evaluating tafenoquine's efficacy and safety in treating human babesiosis. Babesiosis is a disease transmitted by ticks, which can be severe in certain populations. The trial is set to begin recruitment on June 13, 2024, and will involve at least 24 patients. Tafenoquine is already approved for malaria prophylaxis under the name ARAKODA®. The company, which specializes in developing treatments for infectious diseases, is headquartered in Washington D.C. and has a subsidiary in Australia.