This Micro Cap Is Getting Bid Up Prior To Opening Bell

By: Tomas Ronolski - AllPennyStocks.com News

Tuesday, December 17, 2024

A New Jersey-based biotech company is finding quite a bit of success so far during Tuesday’s premarket hours after the company said that the US Food and Drug Administration (FDA) has accepted its filing of a new drug application for TNX-102 SL to treat fibromyalgia.

Traders were quick to snatch up shares of Tonix Pharmaceuticals Holding Corp. (Nassdaq:TNXP) following the announcement, with shares currently bid up at $1.30/share (+145.28% implied open for sellers) at the time of writing. It should be an exciting session for this small cap!

Tonix Pharmaceuticals Holding Corp is a clinical-stage biopharmaceutical company focused on discovering, licensing, acquiring and developing therapeutics and diagnostics to treat and prevent human disease and alleviate suffering. Its portfolio is composed of immunology, rare disease, infectious disease, and central nervous system (CNS) product candidates. Tonix's immunology portfolio includes biologics to address organ transplant rejection, autoimmunity and cancer, including TNX-1500 which is a humanized monoclonal antibody targeting CD40-ligand being developed for the prevention of allograft and xenograft rejection and for the treatment of autoimmune diseases. Tonix's rare disease portfolio includes TNX-2900 (intranasal potentiated oxytocin) for the treatment of Prader-Willi syndrome.

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