Health and Healthcare
Can Tonix Regain Its Former Glory With New Neurodegenerative Dysfunction Drug?
Published:
Last Updated:
Tonix Pharma Holding Corp. (NASDAQ: TNXP) shares spiked on Friday after the firm announced that it received a patent from the European Patent Office (EPO) for its “Method for Treating Neurodegenerative Dysfunction.”
This patent is in regards to Tonix’s drug TNX-601, or tianeptine oxalate and other salts, for treating neurocognitive dysfunction associated with corticosteroid treatment. The patent is expected to provide market exclusivity until April 2029. Patents for the use of TNX-601, its structural analogs and salts have previously been issued in the United States, Canada and Europe.
This patent is a much needed boost to the stock, which was down about 2.7% year to date, excluding Friday’s move. Note that this was a $7 stock a few years ago. After a move like this, Tonix could be looking to reclaim its former glory.
Seth Lederman, M.D., president and CEO of Tonix, commented:
The grant of this European method of use patent is another step in expanding the patent portfolio for TNX-601,” “Tianeptine oxalate, or TNX-601, is an important product in our pipeline and is being developed not only for steroid-induced neurocognitive impairment, but also as a daytime treatment for posttraumatic stress disorder. We are conducting a non-IND human pharmacokinetic study of a proprietary tianeptine oxalate formulation and expect to have data in the second half of this year.
Shares of Tonix Pharma were last seen up more than 39% at $2.98, with a 52-week range of $0.36 to $9.60.
The #1 Thing to Do Before You Claim Social Security (Sponsor)
Choosing the right (or wrong) time to claim Social Security can dramatically change your retirement. So, before making one of the biggest decisions of your financial life, it’s a smart idea to get an extra set of eyes on your complete financial situation.
A financial advisor can help you decide the right Social Security option for you and your family. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you.
Click here to match with up to 3 financial pros who would be excited to help you optimize your Social Security outcomes.
Have questions about retirement or personal finance? Email us at [email protected]!
By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.
By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
