Tonix’s stock jumps 43% on patent for experimental pox vaccines

Shares of Tonix Pharmaceuticals Holding Corp.
TNXP,
+45.55%
gained 43.8% in premarket trading on Wednesday after the company said the U.S. Patent and Trademark Office issued a patent to the company’s poxvirus vaccine and its recombinant poxvirus platform. The horsepox-based live virus vaccine is being developed against monkeypox and smallpox. The patent gives the company market exclusivity until 2037. Tonix’s stock has tumbled 78.7% so far this year, while the S&P 500
SPX,
-0.59%
is down 13.3%.