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Why Tonix Pharmaceuticals Stock Is Soaring Today

By Prosper Junior Bakiny - Updated Mar 17, 2021 at 5:53PM

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The company reported positive results from a pre-clinical study.

What happened

Shares of clinical-stage biopharmaceutical company Tonix Pharmaceuticals Holding (TNXP 2400.66%) are rising sharply on Wednesday following the company's release of data from a study for its experimental COVID-19 vaccine TNX-1800. Tonix Pharmaceuticals' stock was up by 17.3% as of 2:07 p.m. EDT today, after jumping by as much as 25.2% earlier in the day.

So what

The study in question pitted TNX-1800 against a control vaccine called TNX-801 in nonhuman primates divided into five groups of four: Two groups received the TNX-1800 at two different doses, two more groups received TNX-801 at two doses, and the last group received a placebo.

Then, 41 days after vaccination, each group was exposed to the virus that causes COVID-19 through intratracheal and intranasal administration. Six days later (at day 47 after vaccination), none of the eight animals vaccinated with TNX-1800 (at either dose) showed infection with the virus.

Microscopic view of the coronavirus.

Image source: Getty Images.

On day 14 after vaccination, the animals in the two TNX-1800 groups had produced neutralizing antibodies for the virus. All of the animals who received either dose of TNX-801 or the placebo showed infection with the virus, and none of them produced antibodies. Thanks to these positive results, Tonix Pharmaceuticals is planning to start a phase 1 human study during the second half of the year, provided the company's Investigational New Drug Application receives regulatory clearance.

Now what

Several vaccines have already earned Emergency Use Authorization, with at least a couple more likely to do so before Tonix Pharmaceuticals has a chance to launch its version. But the healthcare company argues that its candidate offers several advantages over many competing vaccines, including the fact that it requires only a single dose and presents fewer logistical challenges than the current market leaders. In the company's view, these factors justify advancing TNX-1800 to human clinical trials.

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Tonix Pharmaceuticals Holding Corp. Stock Quote
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