Shares of biopharma Tonix Pharmaceuticals (NASDAQ:TNXP) are up more than 23% in pre-market trading on Thursday. Investors could be eyeing the TNXP run up on their interest in the drug maker’s treatment for agitation in Alzheimer’s disease.
But what else has got investors interested in TNXP today?
For one, chatter on stock trading forums is calling out a U.S. Patent and Trademark Office (USPTO) status update tagged “Notice of Allowance Mailed.” It’s on a patent whose inventors include Tonix Pharmaceuticals CEO Seth Lederman and the company is the applicant. That notice is the document sent to patent applicants by the USPTO after a patent examiner issued the requested patent.
Tonix has filed a patent for the use of its treatment, TNX-102 SL, for agitation, psychosis and cognitive decline in dementia and neurodegenerative diseases (which includes Alzheimer’s Disease).
TNXP Stock Could Be Riding Peer’s Gains
The other item that may have investors energized is yesterday’s move in shares of peer drug developer Cassava Sciences (NASDAQ:SAVA), which surged almost 59%.
Cassava revealed interim results from a recent clinical trial of simufilam, its lead drug candidate for the treatment of Alzheimer’s. The study found patient cognition and behavior scores improved after six months of simufilam treatment and showed no safety issues.
That gain that looks set to increase today. SAVA stock was up more that 9% also in pre-market activity.
What Do Investors Need to Know
Here’s what you need to know about Agitation in Alzheimer’s Disease (AAD) and Tonix’s treatment:
- AAD is a common behavioral symptom experienced by a majority of patients with the disease.
- It includes frequent emotional changes, restlessness, irritability and aggression.
- AAD is one of the most distressing and debilitating of the behavioral complications of Alzheimer’s disease.
- Both sleep disturbances and agitation are common and co-morbid features of Alzheimer’s disease.
Of course, as with most developmental drug shares, TNXP stock can be highly volatile and subject to sharp price swings, based on both rumor and actual news.
Tread carefully. Do your due diligence. Then decide on your investment.
On the date of publication, Robert Lakin did not have (either directly or indirectly) any positions in the securities mentioned in this article.
InvestorPlace contributor Robert Lakin is a veteran financial writer and editor, following fintech, agtech and property tech startups.
