Tonix Pharma Shares Rally After In-Licensing Of Technology For A Rare Genetic Eating Disorder

Tonix Pharmaceuticals Holding Corp (NASDAQ: TNXP) has licensed technology using oxytocin-based therapeutics from the French National Institute of Health and Medical Research (Inserm) for the treatment of Prader-Willi syndrome, characterized by a constant sense of hunger (hyperphagia), which leads to severe obesity resulting in physical, mental and behavioral problems.
The co-exclusive license allows Tonix to expand its intranasal potentiated oxytocin development program to a new indication, designated as TNX-2900 (intranasal potentiated oxytocin) to treat Prader-Willi syndrome.
The patents covering the technology are expected to provide market exclusivity for the U.S. and Europe's co-licensees through 2031.
The company plans to submit an application to the FDA for Orphan Drug and Fast Track designations for TNX-2900.
Price Action: TNXP gains 11.7% at $1.82 during premarket trading on the last check Thursday.