Tonix Pharmaceuticals Announces Topline Results From Phase 2 Proof-Of-Concept Study Of TNX-601 ER For The Treatment Of Major Depressive Disorder
Portfolio Pulse from Benzinga Newsdesk
Tonix Pharmaceuticals announced that its Phase 2 study of TNX-601 ER for the treatment of Major Depressive Disorder did not achieve statistical significance on the primary endpoint. As a result, the company is discontinuing the development of TNX-601 ER. However, Tonix expects topline data results in December 2023 for its Phase 2 study of TNX-1900 in chronic migraine and Phase 3 study of TNX-102 SL in fibromyalgia.
October 31, 2023 | 9:01 pm
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Tonix Pharmaceuticals' decision to discontinue the development of TNX-601 ER could negatively impact the company's stock in the short term. However, the upcoming topline data results for other studies may provide some positive momentum.
The discontinuation of a drug development often leads to a negative reaction in the stock market as it represents a lost potential revenue stream. However, the impact may be mitigated by the anticipation of results from other ongoing studies.
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