shares of Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) reached at $1.33 price level during last trade its distance from 20 days simple moving average was 40.11%, and its distance from 50 days simple moving average was 75.86% while it has a distance of 70.69% from the 200 days simple moving average.
Tonix Pharmaceuticals Holding Corp (NASDAQ: TNXP) announced preliminary results of its leading COVID-19 vaccine, TNX-1800. TNX-1800 is a live, modified horsepox virus designed to elicit a T cell response to the SARS-CoV-2 spike protein.
The study conducted in collaboration with Southern Research Institute demonstrated a positive immune response in all non-human primates that were vaccinated with TNX-1800.
“We had good tolerability in the non-human primates and the dose that was required to induce the immunity is low and that’s promising because we believe that we’ll be able to present this as a product with 100 doses in each glass vial,” said Dr. Seth Lederman, CEO of Tonix Pharmaceuticals. “That glass sparing property is very important in dealing with a pandemic.”
This compelling development comes during the height of COVID-19 vaccine news, as vaccines are currently being rolled out and administered across the U.S.
“There are over 150 COVID-19 vaccines in development, and we believe that more than one vaccine will be approved. We believe different vaccines will have different attributes,” said Dr. Lederman. “Our lead vaccine is one of only a very few that is based on live attenuated viruses.”
At the recent Benzinga Global Small Cap Conference, Dr. Lederman joined the event to discuss some of the attributes and developments of Tonix’s COVID-19 vaccine, TNX-1800. Benzinga also had the opportunity to speak one-on-one with Dr. Lederman to discuss why he believes additional vaccine research needs to be conducted regardless of current emergency use authorizations.
Engineered For Long-Term Immunity
As previously mentioned, Tonix is one of a small number of companies that are currently using live attenuated viruses for their COVID-19 vaccine. The two vaccines Tonix is currently working on are TNX-1800 (live attenuated vaccine based on the horsepox viral vector platform) and TNX-2300 (live attenuated vaccine based on the bovine parainfluenza viral vector platform).
Typically, live attenuated viruses are used for vaccines due to their ability to elicit a strong T cell immune response. Some of the potential benefits of this type of vaccine include long-term durable immunity, single-dose administration, scalable manufacturing, and the prospect of blocking forward transmission which limits a virus’s ability to be contagious.
Tonix is the only company utilizing a horsepox vector. The company chose the horsepox platform for its leading TNX-1800 vaccine for a multitude of reasons.
“Horsepox can be engineered to express a number of different antigens. It does not integrate into the host genome, elicits a very strong T cell immune response, and is manufacturable at scale. Finally, because horsepox is an attenuated, live vaccine, it stimulates the immune system in a relatively unique way,” said Lederman.
In addition to its unique choice of vector, TNX-1800 is related to a vaccine that was developed more than 200 years ago by Dr. Edward Jenner called “vaccinia.”
“Jenner’s vaccinia vaccine is the most successful vaccine ever. It led to the eradication of smallpox. Smallpox is the only disease ever to have been eradicated,” said Dr. Lederman. “The vaccinia smallpox vaccine was developed and used before the molecular era, it is known to be manufacturable at scale, has minimal cold chain issues, and can be packaged in a vial with many doses.”
In the company’s recent study conducted on non-human primates for TNX-1800, in addition to a positive immune response, the study showed that each animal that was vaccinated with TNX-1800 developed ‘takes’ — a skin reaction that measures T cell immunity. According to Dr. Lederman, smallpox was eradicated using the “take” as a biomarker for successful vaccination.
Recently, genomic scientists found that the horsepox vector Tonix is using as its vaccine is very similar to an 1860 United States smallpox vaccine. “This new finding tells a very compelling story about the evolution of smallpox vaccines and strengthens the case that horsepox is closely related to the vaccine that Edward Jenner used,” said Dr. Lederman.
The stock has a market cap of $352.81M with 264.78M shares outstanding, of which the float was 156.47M shares. Analysts consider this stock active, since it switched Trading volume reached 129,146,520 shares as compared to its average volume of 28.47M shares.
The Average Daily Trading Volume (ADTV) demonstrates trading activity related to the liquidity of the security. When Ave Volume tends to increase, it shows enhanced liquidity.
But when Ave Volume is lower, the security will tend to be cheap as people are not as keen to purchase it. Hence, it might have an effect on the worth of the security. TNXP’s relative volume was 4.85.
Relative volume is a great indicator to keep a close eye on, but like most indicators it works best in conjunction with other indicators and on different time frames. Higher relative volume you will have more liquidity in the stock which will tighten spreads and allow you to trade with more size without a ton of slippage.
Tonix Pharmaceuticals Holding Corp. has an average true range (ATR) of 0.14. Other technical indicators are worth considering in assessing the prospects for EQT. TNXP’s price to sales ratio for trailing twelve months was 0 and price to book ratio for most recent quarter was 2.71, whereas price to cash per share for the most recent quarter was 6.33.
The Company’s price to free cash flow for trailing twelve months was 0. Its quick ratio for most recent quarter was 14.20. Analysts mean recommendation for the stock was 2.00. This number is based on a 1 to 5 scale where 1 indicates a Strong Buy recommendation while 5 represents a Strong Sell.
Tonix Pharmaceuticals Holding Corp.‘s shares owned by insiders remained 0.10%, whereas shares owned by institutional owners are 2.70%.
Meanwhile, TNXP traded under umbrella of Healthcare sector, the stock was traded -45.93% ahead of its 52-week high and 240.85% beyond its 52-week low. So, both the price and 52-week high indicators would give you a clear-cut picture to evaluate the price direction.