Tonix Pharmaceuticals Holding Corp (NASDAQ:TNXP) expects to report first data from TNX-1800, the lead vaccine candidate for coronavirus, in animals in Q4 2020. The company developed the live attenuated vaccine – TNX-1800 using its proprietary HVS (horsepox vector system).
Significant progress in Phase 2 RELIEF Study
Tonix reported significant progress in the Phase 2 RELIEF clinical trial of TNX102 SL to cure fibromyalgia. The company enrolled 50% of the patients in April 2020 and will be completing the balance in July 2020 before the schedule. It will release interim data from this clinical trial of TNX102 SL in September 2020. The company will release the topline results by the end of 2020.
Acquires pain treatment technologies
Tonix acquired non-addictive pain treatment and migraine treatment technologies in Jun 2020 from Trigemina Inc. The oxytocin solution for intranasal delivery – TNX-1900 is being investigated to cure chronic migraine. Tonix already published preclinical results of TNX-1900 at AAN (American Academy of Neurology)’s sports concussion conference.
Tonix also received rights to the data revealed in the presentation in June 2020 as part of the acquired assets from Trigemina.
Second Phase 3 study of TNX-102 SL
Tonix plans to initiate the second Phase 3 study of TNX-102 SL to manage fibromyalgia. It will enroll the patients for this pivotal trial in Q3 2020.
Tonix received the FDA’s approval for the IND application of TNX-102 SL in August 2020 to treat alcohol use disorder. With this clearance, the company can conduct Phase 2 proof of concept trial.
Alliance with Kansas state university
Tonix entered a pact with Kansas State University in July 2020, for TNX-2300, a live attenuated vaccine derived from the bovine parainfluenza virus. It is a potential candidate to treat coronavirus by eliciting T-cell immunity.
Plans to acquire 40,000 Sq. Ft. facility
Tonix plans to buy 40,000 Sq. In Massachusetts, Ft. facility to establish laboratories for R&D to support its extended portfolio immunological candidates that comprise vaccines for coronavirus and biological products to treat other disorders.
Raises $9.6 million
Tonix raised $9.6 million through registered direct offering in July 2020. The company holds CE (Cash equivalents) and a Cash balance of $55 million by the end of Q2 2020. It’s spending on R&D surged to $10.6 million in Q2 2020 from $3.6 million in Q2 2019. The company reported a net loss of $14.2 million in Q2 2020.