Shares of Tonix Pharmaceuticals Holding Corp. (TNXP), a New York-based biopharmaceutical company, are surging more than 38 percent or $0.59 in Tuesday's morning trade at $2.14 despite no company-specific news influencing the stock.
U.S. stocks are rising on Tuesday in reaction to news that European Union leaders agreed to a 750 billion euro stimulus package to tackle the exceptional nature of the economic and social situation posed by the coronavirus pandemic. Upbeat earnings results from IBM Corp. and Coca-Cola also boosted sentiment.
Last Thursday, Tonix Pharmaceuticals said it entered into a research collaboration and option agreement with Columbia University to develop precision medicine techniques for COVID-19 vaccines and therapeutics.
The research collaboration will focus on T cell and antibody responses to SARS-CoV-2, the virus that causes COVID-19 at the cellular level, including human monoclonal antibodies and anti-idiotypes.
Tonix Pharmaceuticals has traded in a range of $0.39 to $5.90 in the past 52 weeks.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.