Tonix Pharmaceuticals Inc. (NASDAQ: TNXP) stock declined by 8.67% in the last trading close, whereas the TNXP stock price rises by 6.57% during pre-market after TNXP announced that Tonix Pharmaceutical has been issued with patent No 10,946,027 by the U.S Patent and Trademark Office on 16 March 2021. A clinical-stage pharmaceutical company, Tonix focuses on making, acquiring, and licensing small molecules and biologics for the treatment and prevention of human disease and to reduce suffering.
Major achievements of TNXP
Being issued with a Patent number is definitely a huge achievement for Tonix Pharmaceuticals. Currently Tonix oxalate is the most used pharmaceutical ingredient of Tonix’s development candidate such as TNX-601 CR (tianeptine oxalate and naloxone controlled-release tablet) which is the novel oral formation of one of the most recognized tianeptine oxalate salts. This helps to treat major depressive disorder (MDD), posttraumatic stress disorder and any neurocognitive dysfunction that is linked with corticosteroid use.
Also Tianeptine sodium (amorphous) immediate release (IR) is used for the treatment of depression for over three decades in Europe which was first advertised in France back in 1989. It has also been marketed in many other countries of Asia and Latin America but in USA no tianeptine containing product has been accepted by FDA for use.
The latest patent, that is “Tianeptine Oxalate Salts and Polymorphs,” contains pharmaceutical compositions containing crystalline tianeptine oxalate salts, as well as methods for using such compositions to treat various diseases and methods for producing the oxalate salts. It is to be expected that this patent will provide TNXP with U.S market exclusivity until December 28, 2037, but not including and patent term extensions.
This positive development in Tonix Pharmaceuticals will open new and better opportunities for them to work in this field whereas it will help investors to develop their trust in TNXP shares.