Why Is Tonix Pharmaceuticals Stock Trading Lower Today?
Portfolio Pulse from Vandana Singh
Tonix Pharmaceuticals Holding Corp (NASDAQ:TNXP) 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. The treatment showed improvements in fatigue, sleep quality, cognitive function, disability, and patient global impression of change, but did not meet the primary endpoint of improving Long COVID pain intensity scores at Week 14. Tonix plans to meet with the FDA to discuss a path to registration.
September 05, 2023 | 1:51 pm
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NEGATIVE IMPACT
Tonix Pharmaceuticals' stock is trading lower due to the Phase 2 study results of TNX-102 SL not meeting the primary endpoint. However, the treatment showed improvements in several areas and the company plans to meet with the FDA for further discussions.
The stock price of Tonix Pharmaceuticals is trading lower due to the announcement of the Phase 2 study results. The treatment did not meet the primary endpoint, which is a key factor for investors. However, the treatment showed improvements in several areas and the company's plan to meet with the FDA indicates a potential path forward, which could mitigate some of the negative impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100