Tonix To Develop Vaccine Against COVID-19 Virus, Shares Surge

Shares of micro-cap biotech Tonix Pharmaceuticals Holding Corp TNXP are surging Wednesday morning.

The New York-based company announced a strategic collaboration with Southern Research to support development of a vaccine, codenamed TNX-1800, a live modified horsepox virus vaccine for percutaneous administration, to protect against COVID-19.

TNX-1800 is modified from its TNX-801, a live horsepox virus vaccine for percutaneous administration, which is in pre-clinical development as a potential smallpox preventing vaccine for the U.S. strategic national stockpile and as a monkeypox preventing vaccine.

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Under the agreement, Southern Research will test one or more vaccine constructs in the Tonix horsepox vector that express one or more proteins or protein fragments from the virus causing COVID-19.

"Potential advantages of horsepox are the strong immunogenicity we observed in macaques and mice with good tolerability. The protein synthesis connected with a replicating live virus vaccine provides direct antigen presentation, which can stimulate cellular immunity in addition to humoral immunity," said Dr. Seth Lederman, CEO of Tonix.

"We look forward to this collaboration to advance a potential COVID-19 vaccine," said Scott Goebel, a senior scientist at Southern Research and principal investigator of the study.

Tonix shares were advancing 97.82% to 80 cents at time of publication.