TNXP Stock: Why Tonix Pharmaceuticals Shares Are Soaring Today

Tonix Pharmaceuticals (NASDAQ:TNXP) stock is soaring higher after the company provided an update on its vaccine for the novel coronavirus. Coronavirus vaccine news is something investors are actively seeking out with the pandemic still in effect. So let’s see what TNXP has to say.

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A Tonix Pharmaceuticals press release today covers preliminary results from a trial. The company is using a modified horsepox virus live vaccine to express the novel coronavirus spike protein in primates.

Tonix Pharmaceuticals tested out its TNX-1800 coronavirus vaccine at two dose levels in eight animals. The company then introduced these animals to the virus 41 days after vaccination. It found that all eight animals had undetectable coronavirus in their upper and lower airways six days after being exposed to the virus.

Tonix Pharmaceuticals notes that its use of horsepox virus to create a coronavirus vaccine meshes with similar vaccines that were used to wipe out smallpox. It also noted that it saw successful “takes” in the eight animals, which manifested as skin reactions. These are a sign that the vaccine works and could also provide long-term immunity to the virus.

Seth Lederman, M.D., president and CEO of Tonix Pharmaceuticals, said the following about the news boosting TNXP stock higher today.

“We designed TNX-1800 as a single dose vaccine using a vector known to provide long term T cell immunity. This was originally demonstrated by the vector’s use as the backbone of Edward Jenner’s smallpox vaccine which typically provided lifetime immunity with a single dose. Moreover, by preventing forward transmission of the smallpox virus, it became a defining force in establishing herd immunity.”

Tonix Pharmaceuticals points out that this approach to vaccine creation could also be used to develop treatments for other viruses. It plans to move forward with the coronavirus vaccine and kick off Phase 1 human studies in the second half of 2021.

TNXP stock was up 14.3% as of Wednesday afternoon and is up 101.7% since the start of the year.

Tonix Pharmaceuticals isn’t the only company that has been working on a vaccine for the coronavirus.

Several other companies have been making progress on their own vaccines for the novel coronavirus. That includes those that have gone to market. Recent movers in the space include Moderna (NASDAQ:MRNA), Ocugen (NASDAQ:OCGN), Aeterna Zentaris (NASDAQ:AEZS), and iBio (NYSE:IBIO).

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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.

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