Tonix Pharmaceuticals shares are trading lower after the company announced topline results from the Phase 2 proof-of-concept study of TNX-601 ER for the treatment of major depressive disorder did not achieve clinical or statistical significance.
Portfolio Pulse from Benzinga Newsdesk
Tonix Pharmaceuticals announced that the Phase 2 proof-of-concept study of TNX-601 ER for the treatment of major depressive disorder did not achieve clinical or statistical significance, causing its shares to trade lower.
November 01, 2023 | 3:17 pm
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NEGATIVE IMPACT
Tonix Pharmaceuticals' stock is trading lower due to the unsuccessful results of the Phase 2 study of TNX-601 ER.
The unsuccessful results of the Phase 2 study of TNX-601 ER, a major product under development, directly impact the company's potential future revenues and growth, leading to a decrease in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100