Tonix Pharmaceuticals Holdings Inc. (TNXP) stock gains by 2.81% in the current market trading session. Tonix is a clinical-stage biopharmaceutical business dedicated on finding, licensing, purchasing, and developing small molecules and biologics to cure, prevent, and relieve human illness. Tonix’s portfolio is largely made up of pharmaceutical candidates for the central nervous system and immunology.
Tonix Pharmaceuticals Holding Corp. has signed a Buying and Selling Contract to buy a 48,000-square-foot research & design facility in Frederick, Maryland. Tonix’s infectious disease pipeline, which includes TNX-1800. This is a COVID-19 vaccine that is a live replicating viral vaccination. However, TNX-801 is a live vaccination that protects against smallpox and monkeypox, as well as TNX-3500, a small-molecule antiviral that inhibits SARS-CoV-2 replication.
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What more in TNXP stock?
Tonix has decided to buy the R&D facility from Southern Research which is a research cooperation associate for the production of the TNX-1800 and TNX-801. Biosafety level 2 containment is now in place at the company. Tonix expects the acquisition to conclude and the plant to be operational in the fourth quarter of 2021, pending the transfer and receipt of applicable licenses. Southern Research intends to concentrate its research operations at its Birmingham, Alabama headquarters. Tonix and Southern Research want to continue working together on the production of vaccines and antivirals at the Birmingham, Alabama facility.
Seth Lederman, M.D., President and CEO of Tonix stated,
The Fredrick facility will significantly increase their R&D capabilities. They think that this facility will provide sufficient resources and capability to sustain and expand their vaccination and antiviral treatment pipeline. Furthermore, they see in-house facility control as a key competency that will help them create vaccines and antiviral medicines faster and more efficiently in the future over known, emerging and new infections.
They feel that the Frederick facility’s projected capabilities will supply much-needed domestic resources. The facility is well placed in Maryland’s ‘biotech corridor,’ which is densely populated with highly qualified workers and adjacent to the heart of the country’s biodefense research community.