Tonix Pharmaceuticals Holding Corp (NASDAQ: TNXP) has announced that the US Patent and Trademark Office has granted US Patent No. 11,345,896 entitled “Synthetic Chimeric Poxyviruses.”
Tonix receives a patent covering the horsepox virus
The patents include claims that cover synthetic horsepox virus, which forms the basis for Tonxi’s TNX-801 vaccine production for protection against smallpox and monkeypox and for the Recombinant Pox Virus platform for protection against pathogens like SARS-CoV-2. In addition, the patent gives the company market exclusivity in the US up to 2037, excluding any potential term extensions or term adjustments.
CEO Seth Lederman said, “This patent is an important milestone in protecting our expanding pipeline of vaccines that address known and potentially novel pathogens. TNX-801 is a horsepox-based live virus vaccine currently in development to protect against monkeypox and smallpox. TNX-18401 and TNX-18501 are designed to express the spike proteins from the SARS-CoV-2 omicron and BA.2 variants, respectively. Horsepox was one of the first few viruses ever generated by synthetic biology and remains among the largest.”
With the company preparing to advance the live horsepox-based virus vaccines to clinical trials, Lederman confirmed that they are delighted to add the new patent as a crucial aspect of Tonix’s patent estate.
Tonix announces share repurchase program
The company’s Board of Directors has okayed a stock repurchase program. The company will periodically repurchase around $12.5 million worth of its outstanding common shares at $0.001 per share on the open market and through privately entered transactions depending on share price, market conditions, and other factors. Tonix will fund the stock repurchase program using available funds.
The amount and timing of shares to be repurchased will depend on the company’s valuation of market conditions and other aspects. Also, the company may suspend or discontinue the repurchase program anytime. The repurchases shall be made as per the regulations and rules promulgated by the SEC and some legal requirements that the company is subject to. The repurchase will be made under Rule 10b5-1 plan.