Nano-Cap Tonix Pharmaceuticals Secures Large US Department of Defense Contract
Portfolio Pulse from Vandana Singh
Tonix Pharmaceuticals (NASDAQ:TNXP) has secured a $34 million contract with the U.S. Department of Defense to develop broad-spectrum antiviral agents. The contract aims to enhance military medical readiness against biological threats. TNXP shares are up 3.34% following the announcement.
July 01, 2024 | 3:07 pm
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Tonix Pharmaceuticals has been awarded a $34 million contract by the U.S. Department of Defense to develop broad-spectrum antiviral agents. This contract validates Tonix's research capabilities and is expected to boost its revenue and stock price.
The $34 million contract from the U.S. Department of Defense is a significant validation of Tonix's research capabilities and will likely boost its revenue. The stock price has already seen a positive impact, rising 3.34% following the announcement.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100