Tonix Pharmaceuticals Holding Corp (TNXP) shares experienced a significant surge on Tuesday, climbing by 1.18% to $0.14. This boost in share price was driven by the company’s successful securing of a substantial $34 million research collaboration contract with X-Chem, a prominent name in the pharmaceutical industry.
The heart of this collaboration lies in the acceleration of Tonix’s TNX-4200 program, an oral broad-spectrum antiviral program with promising potential. This program leverages the expertise of X-Chem’s AI and machine learning technologies to optimize the drug’s properties, including safety and pharmacokinetics. The goal is to refine TNX-4200, which focuses on oral CD45 phosphatase inhibitors, to effectively combat a broad spectrum of viral threats.
This substantial investment comes from the U.S. Department of Defense’s Defense Threat Reduction Agency (DTRA). The funding will play a crucial role in advancing the TNX-4200 program through key development stages, including the submission of an Investigational New Drug (IND) application and the initiation of a first-in-human Phase 1 clinical trial. Tonix will utilize its research and development facilities located in Maryland to execute this project.
For those interested in investing in TNXP, there are a few avenues to consider. Beyond traditional brokerage platforms where you can purchase individual shares, you can also gain exposure to the company through exchange-traded funds (ETFs) that hold TNXP stock or by allocating your 401(k) towards strategies that acquire shares in mutual funds or other instruments within the Health Care sector. TNXP’s presence within this sector offers investors a means to participate in broader healthcare trends.
It is important to note that TNXP’s stock has experienced a significant price range over the past year. The 52-week high stands at $22.14, while the 52-week low is $0.12.
