On Monday, Tonix Pharmaceuticals Holding Corp (NASDAQ:TNXP) was awarded an Other Transaction Agreement (OTA) with a potential value of up to $34 million over five years by the Defense Threat Reduction Agency (DTRA), an agency within the U.S. Department of Defense (DoD).
According to data from Benzinga Pro, the shares are trading on a strong session volume of 5.74 million and have a market cap of $4.9 million.
The contract’s objective is to develop small-molecule broad-spectrum antiviral agents for the prevention or treatment of infections, improving the medical readiness of military personnel in biological threat environments.
Tonix’s program will focus on optimizing and developing its TNX-4200 program to develop an orally available CD45 antagonist with broad-spectrum efficacy against ...