60 levels prescribed drugs director Cheryl Xu acquires $21,400 in inventory

WASHINGTON—Cheryl Xu, a director at 60 Levels Prescribed drugs, Inc. (NASDAQ:SXTP), has not too long ago elevated her holdings within the firm. In accordance with a submitting with the Securities and Trade Fee, Xu bought a complete of 14,000 shares of frequent inventory over a sequence of transactions carried out between December 12 and December 16, 2024. The purchases come as SXTP shares have declined over 53% up to now six months, although InvestingPro information reveals a powerful return over the previous month.

The transactions have been executed at costs starting from $1.45 to $1.85 per share, amounting to a complete funding of $21,400. Following these acquisitions, Xu’s whole possession within the firm now stands at 54,078 shares. Notably, analysts keep a $3.40 worth goal for the inventory, based on InvestingPro information.

These purchases underscore Xu’s continued confidence within the firm’s prospects. 60 Levels Prescribed drugs, primarily based in Washington, D.C., makes a speciality of pharmaceutical preparations and is integrated in Delaware. The corporate maintains a wholesome stability sheet with extra cash than debt, although InvestingPro evaluation signifies fast money burn charges. Subscribers can entry 13 further ProTips and complete monetary metrics for SXTP.

In different current information, 60 Levels Prescribed drugs has introduced a number of vital developments. The corporate’s Q2 income doubled, primarily resulting from a 288% improve in pharmacy deliveries of ARAKODA, regardless of a web loss owing to elevated working bills. The corporate additionally disclosed a non-public placement sale of shares and warrants, with H.C. Wainwright & Co. appearing because the unique placement agent.

Additional, 60 Levels Prescribed drugs has initiated a medical trial in collaboration with Brigham and Girls’s Hospital to guage the security and efficacy of tafenoquine, a drug presently permitted for malaria prophylaxis, mixed with customary therapies for babesiosis. The corporate additionally secured approval from its shareholders for a number of key proposals, together with the train of warrants, an modification to its fairness incentive plan, and a reverse inventory cut up.

Ascendiant Capital maintains its Purchase score on 60 Levels Prescribed drugs, whereas H.C. Wainwright has maintained a Impartial stance. The corporate’s current developments additionally embrace the launch of a pilot program to extend consciousness and utilization of ARAKODA, its antimalarial treatment. These current developments are indicative of the corporate’s ongoing efforts within the subject of infectious illnesses.

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