Tonix Pharmaceuticals Holding Corp (NASDAQ:TNXP) stock will be in focus on Tuesday as the stock is trading higher in the pre-market session.
Trading Data
On Monday, TNXP stock fell 3.84% to $0.46 with more than 24.80 million shares, compared to its average volume of 13.38 million shares. The stock has moved within a range of $0.4551 – 0.4909 after opening trade at $0.49.
Publishes Study on TNX-3500 as an Antiviral SARS-CoV-2 Inhibitor
Tonix Pharmaceuticals Holding Corp (NASDAQ:TNXP), which is a clinical-stage biopharmaceutical company, made an announcement on November 22, 2021, regarding the publication of Sangivamycin being highly effective against SARS-CoV-2 in vitro, in JCI Insight.
The paper covers in vitro studies that show sangivamycin, the active pharmaceutical ingredient in the company’s (TNX-3500) product candidate, is a powerful antiviral agent against SARS-CoV-2 (cause of Covid-19). It can suppress viral replication in tissue culture, while efficacy is touted to be more than Remdesivir – the active pharmaceutical ingredient of Gilead Sciences.
When combined with Remdesivir, both drugs have an additive effect against SARS-CoV-2. New data has revealed that TNX-3500 has similar low nanomolar antiviral activity in laboratory-based assays against multiple variants of SARS-CoV-2, including the extremely contagious Delta variant.
Seth Lederman, M.D., President and Chief Executive Officer of Tonix, says that the study being published is a major milestone for the company, as it works diligently to help combat Covid-19 and other viral disorders. He emphasizes that TNX-3500’s potency on SARS-CoV-2 inhibition in tissue culture and its tolerability in humans from prior clinical studies, supports the potential for further clinical development. In time, it should be considered as a potential COVID-19 therapeutic.
Before submitting an Investigational New Drug application (IND) and initiating a Phase I clinical study, the company intends to conduct more non-clinical animal studies.
Key Quote
“We are excited to have the results of this study published, as it demonstrates Tonix’s commitment to helping fight COVID-19 and other viral disorders,” said Seth Lederman, M.D., President and Chief Executive Officer of Tonix. “We believe that TNX-3500’s potency on SARS-CoV-2 inhibition in tissue culture and its tolerability in humans from prior clinical studies support the pursuit of TNX-3500 for further clinical development as a potential COVID-19 therapeutic.”
Technical Data
TNXP stock is trading below the 20-Day and 50-Day Moving averages of $0.54 and $0.57 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.95. The stock is down 15% in the past month.
