Tonix Pharmaceuticals(NASDAQ:TNXP) stock is soaring after the company announced that it had received a patent for the main component of its “monkeypox and smallpox” vaccine. As monkeypox slowly spreads around the world, investors have bid up the stocks of companies that have or are developing vaccines which can be used to prevent the virus.
Earlier today, Tonixannounced that it hadobtained a patent “covering synthetic horsepox virus.” According to the company, the latter virus “is the basis for the Company’s TNX-801 vaccine in development to protect against monkeypox and smallpox.”
The patent, issued by the United States Patent and Trademark Office (USPTO), is expected to remain valid “until 2037,” Tonix stated.
Tonix’s Recombinant Pox Virus (RPV) platform is also covered by the same patent. The RPV platform is being used to develop vaccines that may prevent people from contracting other deadly diseases. The company’s TNX-1840 and TNX-1850 vaccines are designed to combat Covid-19 and its subvariants by neutralizing the virus’ spike proteins.
In a statement today, Tonix’s CEO, Seth Lederman, said that the company was getting ready “to advance horsepox-based live virus vaccines into clinical development.”
As of May 31, therewere reportedly 15confirmed cases of monkeypox in the U.S. and 584 such cases globally. However, a World Health Organization (WHO) official on Monday saidthe organizationdoes not expect the outbreak to become a pandemic.
TNXP stock and similar vaccine stocks are expected to see more trading in the days and weeks to come as the monkeypox outbreak plays out.
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