Tonix Pharmaceuticals Holding Corp. (TNXP) stock soared 2.18% in the current market trading session at the price of $0.37 despite no fundamental updates. TNXP is a clinical-stage biopharmaceutical firm that discovers and develops therapeutics to address human diseases. The company’s portfolio is primarily based on the central nervous system and immunology product candidates.
TNXP Announced Inclusion in NBI
On 15th December 2021, TNXP reported that it had added to the NASDAQ Biotechnology Index (NBI) as per NASDAQ’s annual reconstitution process. The addition became effective on Monday, 20th December 2021. The NBI had created to stalk the performance of the securities listed on the NASDAQ Stock Market as either Pharmaceutical or Biotechnology under Industry Classification Benchmark.
FDA Granted Clearance for TNX-2100
On 14th December 2021, TNXP announced that FDA had granted clearance of IND application to start a TNX-2100 study. TNX-2100 is a skin test to measure delayed-type hypersensitivity to COVID-19 causing virus, SARS-CoV-2 (CoV-2). TNXP hopes to commence the clinical study by the first quarter of 2022. Meanwhile, Tonix is developing TNX-1800, a COVID-19 vaccine devised to provoke T-cell immunity.
Chief Executive Officer of TNXP, Seth Lederman, remarked that their offered skin test delivers safety, diagnostic, and predictive knowledge to clinicians, employers, patients, and public health officials. It can also provide data regarding the durability of immune responses in convalescent, vaccinated, and exposed people.
The main goal of the clinical development of TNX-2100 is to investigate the correlation of a positive skin test with immunity. This test can determine the need for vaccine boosters which will help reduce risks and costs associated with unnecessary vaccinations. Comparatively, a one-size-fits-all booster approach will be highly unsustainable and more expensive, Seth Lederman added.
Dr. Lederman continued that while the virus keeps prevailing with new variants, the protection of immunity to fight COVID-19 is crucial in managing public health. Many specialists predict COVID-19 to become endemic, so the need for immunity and surveillance will always be there.