Why Tonix Pharmaceuticals (TNXP) Stock Is Moving
Portfolio Pulse from Henry Khederian
Tonix Pharmaceuticals (NASDAQ:TNXP) shares rose by 1.18% to $0.14 after securing a $34 million research collaboration contract with X-Chem, funded by the U.S. Department of Defense. The collaboration aims to advance the TNX-4200 antiviral program using AI and machine learning.
October 08, 2024 | 2:57 pm
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Tonix Pharmaceuticals' stock increased by 1.18% following a $34 million research collaboration with X-Chem, funded by the U.S. Department of Defense. This partnership aims to develop the TNX-4200 antiviral program using AI and machine learning.
The $34 million contract from the Department of Defense is a significant boost for Tonix Pharmaceuticals, providing funding for the development of its TNX-4200 antiviral program. The collaboration with X-Chem and the use of AI and machine learning are likely to enhance the program's development, positively impacting the stock price in the short term.
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