Why Tonix Pharmaceuticals Stock Surged Today

Shares of Tonix Pharmaceuticals (NASDAQ: TNXP) jumped 22% on Monday after the biopharmaceutical company said it would develop a COVID-19 skin test. 

Tonix intends to develop a diagnostic skin test, called TNX-2100, to measure T-cell immunity to SARS-CoV-2, the virus that causes COVID-19. Researchers believe T-cell immunity can help protect against severe forms of the disease.

"We believe TNX-2100 has the potential to measure T-cell immunity to CoV-2 and therefore serve as an aid to COVID-19 diagnosis to support patient care, public health surveillance, and vaccine trials," Tonix CEO Seth Lederman said in a press release.

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Source Fool.com