Tonix Pharma Shares Rally After In-Licensing Of Technology For A Rare Genetic Eating Disorder

• Tonix Pharmaceuticals Holding Corp (NASDAQ: TNXP) has licensed technology using oxytocin-based therapeutics from the French National Institute of Health and Medical Research (Inserm) for the treatment of Prader-Willi syndrome, characterized by a constant sense of hunger (hyperphagia), which leads to severe obesity resulting in physical, mental and behavioral problems.

• The co-exclusive license allows Tonix to expand its intranasal potentiated oxytocin development program to a new indication, designated as TNX-2900 (intranasal potentiated oxytocin) to treat Prader-Willi syndrome.

• The patents covering the technology are expected to provide market exclusivity for the U.S. and Europe's co-licensees through 2031.

• The company plans to submit an application to the FDA for Orphan Drug and Fast Track designations for TNX-2900.

• Price Action: TNXP gains 11.7% at $1.82 during premarket trading on the last check Thursday.

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