Tonix Pharmaceuticals Stock Is Popping Off: Here's Why

Tonix Pharmaceuticals Holding Corp TNXP shares are trading higher by 7.81% to $1.72 Thursday morning after the company announced a collaboration with the Kenya Medical Research Institute to plan, seek regulatory approval for and conduct a Phase 1 clinical study to develop TNX-801 as a vaccine to protect against monkeypox and smallpox.

What Else?

TNX-801 is a live virus vaccine based on synthesized horsepox. Tonix is developing TNX-801 for percutaneous administration as a vaccine to protect against monkeypox and smallpox. Tonix Pharmaceuticals says the study is expected to start in the first half of 2023.

"We are excited to collaborate with KEMRI on the clinical development of TNX-801 as a vaccine to protect against monkeypox and smallpox in Kenya," said Seth Lederman, M.D., Chief Executive Officer of Tonix Pharmaceuticals.

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According to data from Benzinga Pro, Tonix Pharmaceuticals has a 52-week high of $26.08 and a 52-week low of $1.19.