Microsoft strongly encourages users to switch to a different browser than Internet Explorer as it no longer meets modern web and security standards. Therefore we cannot guarantee that our site fully works in Internet Explorer. You can use Chrome or Firefox instead.

Why Tonix Pharmaceuticals Stock Is Jumping Today

TheMotleyFool

0 0

Why Tonix Pharmaceuticals Stock Is Jumping TodayPhoto, wide shot, wide-angle lens, Clinical research organization, sunset photo at golden hour, photo by Peter Lik: https://img.midjourneyapi.xyz/temp/02f7778c-d723-4fb3-bdef-fabb7e5fc9c8.png

Shares of Tonix Pharmaceuticals Holding (NASDAQ: TNXP) were jumping 8.1% higher as of 10:45 a.m. EDT on Monday after rising as much as 19.4% earlier in the day. The big gain came after the company announced an agreement with OyaGen to license experimental COVID-19 antiviral drug TNX-3500 (formerly known as OYA1).

Investors cheered Tonix's licensing agreement because it gives the company another pipeline candidate with promising potential. In preclinical testing, TNX-3500 was found to be roughly 65 times more effective at inhibiting SARS-CoV-2 (the coronavirus that causes COVID-19) than Gilead Sciences' remdesivir.

Image source: Getty Images.

Source Fool.com

Like: 0

TNXP

Share