Tonix Pharmaceuticals Inks Collaboration with Southern Research To Develop COVID-19 Vaccine
In a development that is expected to be closely watched by market participants, Tonix Pharmaceuticals Holding Corp (NASDAQ: TNXP) announced on Wednesday that it has got into a research collaboration with Southern Research.
Tonix is going to collaborate in order to create a vaccine for the deadly coronavirus, which has now started spreading outside China. The news proved to be a major positive for the Toxin’s stock as the stock was the biggest biotech stock gainer, and it soared by as much as 123% to close at $0.90.
According to the terms of the agreement, Southern Research is going to conduct tests on the different vaccine constructs that have been created by Tonix.
Biggest Biotech Stock Gainer: Tonix Pharmaceuticals Holding
Tonix Pharmaceuticals Holding Corp (NASDAQ: TNXP) announced that tests are to be conducted on vaccines in Tonix’s horsepox vector. Eventually, the two companies will collaborate to develop a horsepox vaccine that could tackle the coronavirus through protein synthesis. The Chief Executive Officer of the company Dr. Seth Lederman, explained the situation in the press release.
He said, “The protein synthesis connected with a replicating live virus vaccine provides direct antigen presentation, which can stimulate cellular immunity in addition to humoral immunity.” It is a major development for Tonix, and if the company is able to eventually come up with a vaccine, it could prove to be a game-changer.
Tonix Pharmaceuticals Holding Corp (NASDAQ: TNXP) has developed its own horsepox vaccine platform, and it is going to be heavily used in order to create the coronavirus vaccine. The vaccine has been christened TNX 801 for now, and it is likely that the developments are going to be quite closely watched by market analysts over the coming months.
That being said, it should also be noted that the vaccine is primarily being created as a potential vaccine against smallpox and is expected to be a part of the United States’ strategic national stockpile. In order words, the vaccine in question could eventually end up having a dual purpose.
Source: Stock Market Press
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