What's Going On With Tonix Pharmaceuticals (TNXP) Stock?
Portfolio Pulse from Henry Khederian
Tonix Pharmaceuticals (NASDAQ:TNXP) shares fell 14.61% after a 60% gain, following Q2 results showing a larger-than-expected loss. The company initiated a Phase 2 trial for TNX-1300, a treatment for acute cocaine intoxication, and highlighted progress on its TNX-801 vaccine for mpox and smallpox.
August 20, 2024 | 10:36 pm
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Tonix Pharmaceuticals' stock dropped 14.61% after reporting a larger-than-expected Q2 loss. The company initiated a Phase 2 trial for TNX-1300 and made progress on its TNX-801 vaccine, which could impact future growth.
The significant drop in TNXP's stock price is due to a larger-than-expected Q2 loss, which negatively impacts investor sentiment. However, the initiation of a Phase 2 trial for TNX-1300 and progress on TNX-801 could provide future growth opportunities, though these are longer-term prospects.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100