Why Tonix Pharmaceuticals Stock Is Jumping Today

Why Tonix Pharmaceuticals Stock Is Jumping Today
Keith Speights, The Motley Fool
·2 min read

Shares of Tonix Pharmaceuticals Holding (NASDAQ: TNXP) were jumping 8.1% higher as of 10:45 a.m. EDT on Monday after rising as much as 19.4% earlier in the day. The big gain came after the company announced an agreement with OyaGen to license experimental COVID-19 antiviral drug TNX-3500 (formerly known as OYA1). Investors cheered Tonix's licensing agreement because it gives the company another pipeline candidate with promising potential.