Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) shares climbed nearly 12% this morning, after the drug maker announced the successful synthesis of a potential smallpox-preventing vaccine. This vaccine candidate, TNX-801, is a live form of horsepox virus (HPXV) that has been demonstrated to have protective vaccine activity in mice.
“Presently, the safety concern of existing smallpox-preventing vaccines outweigh the potential benefit to provide immunization of first responders or the general public. By developing TNX-801 as a horsepox vaccine to prevent smallpox infection, we hope to have a safer vaccine to protect against smallpox than is currently available,” stated Seth Lederman, M.D., president and chief executive officer of Tonix. “Vaccines are a critical component of the infrastructure of global public health. Vaccination protects those who are vaccinated and also those who are not vaccinated, by decreasing the risk of contagion.”
“Our goal is to improve on current methods that protect the public from possible viral outbreaks,” said Professor David Evans, Ph.D., FCAHS, Professor and Vice-Dean (Research), Faculty of Medicine and Dentistry at the University of Alberta, in Edmonton, Alberta, Canada, and principal investigator of the TNX-801 research project.
HPXV was synthesized by Professor Evans and Research Associate Ryan Noyce, Ph.D., at the University of Alberta, with Dr. Lederman as co-investigator of the research and co-inventor of the TNX-801 patent. Under their research and development agreement, Tonix wholly owns the synthesized HPXV virus stock and related sequences. Professor Evans and Dr. Noyce also demonstrated that HPXV has protective vaccine activity in mice, using a model of lethal vaccinia infection. Vaccine manufacturing activities have been initiated by Tonix to support further nonclinical testing of TNX-801.
Dr. Lederman stated, “Our research collaboration is dedicated to creating tools and innovative products that better protect public health.”
On the ratings front, Tonix has been the subject of a number of recent research reports. In a report issued on December 30, Oppenheimer analyst Jay Olson reiterated a Hold rating on TNXP. On November 15, Roth Capital’s Scott Henry reiterated a Hold rating on the stock and has a price target of $0.60.
According to TipRanks, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Jay Olson and Scott Henry have a yearly average return of 9.5% and a loss of 0.5% respectively. Olson has a success rate of 61% and is ranked #1186 out of 4512 analysts, while Henry has a success rate of 40% and is ranked #3429.
Tonix Pharmaceuticals Holding Corp. is a clinical-stage pharmaceutical company. It engages in developing and manufacturing new pharmaceutical products that are used in central nervous system drugs in large and growing markets. It products include TNX-102 SL and TNX-201.