60 Degrees Pharma Licenses Australian Chestnut Extract for Non-Prescription Supplement Market
SXTP is trading near its 52-week low of $1.29 (5.4% above the low) on light trading volume (0.1× avg).
Summary
60 Degrees Pharmaceuticals signed an exclusive patent license with Florida State University for Australian Chestnut Extract, aiming to develop it as a non-prescription botanical supplement. This represents a new product line and potential revenue stream for the company, which has recently faced significant financial challenges including a critical 4-month cash runway and going concern warnings. The FDA has provided feedback on the New Dietary Ingredient Notification, and a meeting is scheduled for July 1, 2026, to discuss safety information. The outcome of this FDA meeting will be crucial for the product's path to market.
At the time of this announcement, SXTP was trading at $1.36 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $3.7M. The 52-week trading range was $1.29 to $11.84. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: GlobeNewswire.