Why Tonix Pharmaceuticals Stock Surged Today
Shares of Tonix Pharmaceuticals (NASDAQ: TNXP) jumped 22% on Monday after the biopharmaceutical company said it would develop a COVID-19 skin test.
Tonix intends to develop a diagnostic skin test, called TNX-2100, to measure T-cell immunity to SARS-CoV-2, the virus that causes COVID-19. Researchers believe T-cell immunity can help protect against severe forms of the disease.
"We believe TNX-2100 has the potential to measure T-cell immunity to CoV-2 and therefore serve as an aid to COVID-19 diagnosis to support patient care, public health surveillance, and vaccine trials," Tonix CEO Seth Lederman said in a press release.
Source Fool.com
