Tonix Pharmaceuticals shares are trading lower after the company announced topline results from the Phase 2 proof-of-concept PREVAIL study of TNX-102 SL 5.6 mg for managing fibromyalgia-type Long COVID.
Portfolio Pulse from Benzinga Newsdesk
Tonix Pharmaceuticals announced topline results from the Phase 2 proof-of-concept PREVAIL study of TNX-102 SL 5.6 mg for managing fibromyalgia-type Long COVID, causing its shares to trade lower.
September 05, 2023 | 12:38 pm
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Tonix Pharmaceuticals' shares are trading lower after the company announced Phase 2 results for TNX-102 SL 5.6 mg for managing Long COVID.
The announcement of the Phase 2 results for TNX-102 SL 5.6 mg, a drug for managing Long COVID, has led to a decrease in the trading price of Tonix Pharmaceuticals' shares. This suggests that the market may have had higher expectations for the results, leading to a negative short-term impact on the stock.
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