11:52 AM EDT, 07/24/2024 (MT Newswires) -- Tonix Pharmaceuticals ( TNXP ) said Wednesday it signed a five-year deal with the US Defense Department's Defense Threat Reduction Agency under which it may get as much as $34 million in funding to develop broad-spectrum antivirals.

The drugs will be used to prevent or treat infections to improve the readiness of military staff in biological threat environments, Tonix said.

Shares of Tonix were down more than 6% in recent trading activity.

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