H.C. Wainwright downgrades 60 Degrees on ‘untenable’ spending

H.C. Wainwright downgraded 60 Degrees Pharmaceuticals (SXTP) to Neutral from Buy without a price target The firm cites Arakoda’s revenue trajectory and the company’s lack of pipeline visibility for the downgrade. 60 Degrees’ ongoing spend on commercial and clinical endeavors “is an increasingly untenable position for the company,” the analyst tells investors in a research note. The firm sees financial constraints and a lack of visibility on 60 Degrees’ ongoing clinical development plans.