Just before the start of the regular session today, Tonix Pharmaceuticals Holding Corp. (TNXP) stock has been trading premarket at a rise of 6.75% to $1.74. The clinical-stage biopharmaceutical company this morning announced the licensing of technology for treating Prader-Willi syndrome.
What the company do?
Tonix Pharmaceuticals focuses on the discovery, acquisition, development, production, licensing, and distribution of small molecules and biological for the treatment, prevention, and alleviation of diseases.
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Its candidates for immunology products include vaccines to prevent infectious diseases and biologics to treat immunosuppression, cancer, and autoimmune diseases; and small molecules and biologics to treat pain, neurological, psychiatric, and addiction conditions comprise the Central Nervous System (CNS) product candidates.
Tonix Pharmaceuticals has announced a licensing agreement today for its technology that uses oxytocin-based therapies to treat Prader-Willi syndrome and non-organic failure to thrive disease. The technology was licensed from Inserm, the French National Institute of Health and Medical Research.
Inserm Transfert is the private subsidiary of Inserm that has signed on behalf of its parent organization. TNXP has negotiated and entered into an agreement with Inserm Transfert as well as the Centre Hospitalier Universitaire of Toulouse and Aix-Marseille Université.
Prospects of the licensing agreement:
A co-exclusive license enables Tonix to add a new indication to its intranasal potentiated oxytocin development program. For the treatment of Prader-Willi syndrome, the new program at Tonix is designated TNX-2900 (intranasal potentiated oxytocin).
It is expected that the patents covering the technology will provide market exclusivity for co-licensees in the U.S. and Europe by 2031. The exclusivity could be extended by a Supplemental Protection Certificate in Europe or a Patent Term Extension in the U.S. after marketing authorization. It will be independent of other patents held by Tonix covering intranasal administration formulating and oxytocin potentiation technologies.
In the early trades of the regular session, the stock of Tonix Pharmaceuticals Holding Corp. (TNXP) leapt more than 11% and was trading around $1.82. Bringing the market capitalization of the company to $452 million, the gain over the past 5 sessions remained nearly 36%.