Benzinga | Jun 25, 2021 08:56AM EDT

Tonix Pharma Stock Moving Higher On Plans For Vaccine Manufacturing Facility In Bitterroot Valley

* Tonix Pharmaceuticals Holding Corp (NASDAQ:TNXP) said in a regulatory filing that plans are underway to construct a commercial-scale manufacturing site to develop and manufacture vaccines, including its experimental COVID-19 shot, TNX-1800.

* The Montana facility intended to develop and manufacture Tonix's vaccine candidates will be a "public/private sector collaboration between Ravalli County and Tonix Pharmaceuticals that will bring more high-tech bioscience jobs to the Bitterroot Valley," the company said.

* Early this week, Tonix announced its plans to develop the fibromyalgia candidate, TNX-102 SL, as a potential treatment for Long COVID Syndrome.

* Price Action: TNXP shares are up 13.6% at $1.25 during the premarket session on the last check Friday.