Tonix Pharmaceuticals Holding Corp. ( NASDAQ:TNXP) announced this morning that it would be halting its Phase 3 study of its Tonmya drug, which caused its stock price to drop in dramatic fashion. After its twelve-week trial, Tonmya, a drug that treats military-related post-traumatic stress disorder (PTSD), showed “inadequate separation from placebo.”.
What's happening with Tonix Pharmaceuticals Holding stock?
Shares of Tonix Pharmaceuticals Holding ( TNXP -9.36%) were crashing 22.7% as of 10:54 a.m. ET on Tuesday. This marked the second consecutive day of big losses for the pharma stock.
What does Tonix's reverse stock split mean for investors?
Reverse stock splits aren't a sign that things are going well for a company. That's certainly the case for Tonix. The company's board of directors approved the 1-for-32 reverse stock split to boost Tonix's share price. This move was needed to meet the $1 minimum bid requirement for the stock to remain listed on the Nasdaq Stock Market.
What's next for Tonix?
What's next for the biotech company? Tonix isn't throwing in the towel on TNX-102 SL in fibromyalgia yet. The company plans to move forward with its late-stage study targeting fibromyalgia with the patients who are already enrolled.
Can Tonix Pharmaceuticals recover from clinical trial failures?
Unexpectedly poor clinical trial results tend to severely damage share prices of biotechs. As long as there's cash in the bank and pipeline programs in progress, biopharma companies can recover from disaster. Tonix Pharmaceuticals ( NASDAQ:TNXP) investors are having a bad week.
Why did Tonix stock drop so much?
Tonix crashes on PhIII PTSD failure, sending stock to the gutter – Endpoints News.
Why is tonix pharmaceuticals down today?
The big decline came after Tonix announced on Friday following the market close that it is halting enrollment in a late-stage clinical study evaluating TNX-102 SL in treating fibromyalgia.
Will tonix pharmaceuticals ever recover?
In total, the company plans to have three programs entering into phase 2 trials by the end of 2021. That means 2022 and 2023 could easily be better for investors than this year. And investors can be confident that Tonix will survive for the near future.
Is tonix Pharmaceuticals a good stock to buy?
Tonix Pharmaceuticals has received a consensus rating of Buy. The company's average rating score is 3.00, and is based on 2 buy ratings, no hold ratings, and no sell ratings.
What is the future of tonix pharmaceuticals?
(NASDAQ: TNXP) TONIX PHARMACEUTICALS HOLDING's current Earnings Per Share (EPS) is -$7.68. On average, analysts forecast that TNXP's EPS will be -$6.25 for 2022, with the lowest EPS forecast at -$6.39, and the highest EPS forecast at -$6.12.
Will Tonix reverse split?
(Nasdaq: TNXP) (Tonix or the Company), a clinical-stage biopharmaceutical company, today announced that it will effect a 1-for-32 reverse stock split of its outstanding common stock. This will be effective for trading purposes as of the commencement of trading on May 17, 2022.
Will Tonix get FDA approval?
TNX-2900 has been granted Orphan-Drug Designation by the FDA. Tonix's infectious disease pipeline includes a vaccine in development to prevent smallpox and monkeypox called TNX-8013, next-generation vaccines to prevent COVID-19, and an antiviral to treat COVID-19.
How many employees does Tonix Pharma have?
Compare TNXP With Other StocksTonix Pharmaceuticals Holding Annual Number of Employees2021732020262019162018129 more rows
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When did tonix pharmaceuticals go public?
It was listed on the NASDAQ exchange in 2013 under the symbol TNXP. Ernest Mario, a scientist and former CEO of Glaxo Holdings Inc, served on the board of Tonix in the past.
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NASDAQ: TNXP
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What happened
Shares of Tonix Pharmaceuticals ( TNXP -6.38% ) were crashing 28.3% lower as of 10:24 a.m. EDT on Monday. The big decline came after Tonix announced on Friday following the market close that it is halting enrollment in a late-stage clinical study evaluating TNX-102 SL in treating fibromyalgia.
So what
Tonix made the decision to stop enrollment in its late-stage study of TNX-102 SL after the study's Independent Data Monitoring Committee (IDMC) completed an interim analysis.
NASDAQ: TNXP
TNX-102 SL is Tonix's lead pipeline candidate. In addition to being evaluated in treating fibromyalgia, the company also has hopes for the drug in treating post-traumatic stress disorder-related sleep disturbance, agitation in patients with Alzheimer's disease, and alcohol use disorder.
Now what
What's next for the biotech company? Tonix isn't throwing in the towel on TNX-102 SL in fibromyalgia yet. The company plans to move forward with its late-stage study targeting fibromyalgia with the patients who are already enrolled.
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Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Tonix Pharmaceuticals Holding Corp.
Support, Risk & Stop-loss
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
Is Tonix Pharmaceuticals Holding Corp. stock A Buy?
Tonix Pharmaceuticals Holding Corp. holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Insiders are very positive buying more shares than they are selling in Tonix Pharmaceuticals Holding Corp
In the last 100 trades there were 20.56 million shares bought and 10 thousand shares sold. The last trade was done 8 days ago by Lederman Seth who bough 5 million shares. The large amount of stocks bought compared to stocks sold indicate that the insiders believe there is a potential good upside.
About Tonix Pharmaceuticals Holding Corp
Tonix Pharmaceuticals Holding Corp. engages in developing medicines for common disorders of the central nervous system. These disorders are characterized by chronic disability, inadequate treatment options, high utilization of healthcare services, and economic burden.
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Where is Tonix Pharmaceuticals located?
Tonix Pharmaceuticals is based in New York and specializes in producing drugs that treat specific central nervous system conditions. “These results underscore the challenges in designing and conducting well-controlled clinical studies in PTSD, especially military-related PTSD.
Is Tonix halting Phase 3?
Tonix Pharmaceuticals Holding Corp. ( NASDAQ:TNXP) announced this morning that it would be halting its Phase 3 study of its Tonmya drug, which caused its stock price to drop in dramatic fashion.
Is Tonix a Phase 2 drug?
In addition to its Tonmya drug, Tonix is currently working on a bedtime treatment drug for agitation in Alz heimer’s disease, which is currently in its Phase 2 of its trial.
NASDAQ: TNXP
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Yes, but it's looking like a long shot
Tonix Pharmaceuticals ( TNXP -2.88% ) investors are having a bad week. Hot off the heels of a devastating interim analysis from one of its late-stage clinical trials that looks all but doomed to end in failure, the stock's price has fallen well below $1.
What went wrong
On July 23, Tonix reported that phase 3 trials for its leading pipeline candidate, TNX-102 SL, would stop enrolling new patients with fibromyalgia.
NASDAQ: TNXP
Now the drug's fate is uncertain, but investors are likely incensed with management -- or at least confused. As recently as early June, the company had presented preliminary data suggesting that TNX-102 SL was more effective at reducing fibromyalgia pain than a placebo.
Is there a rally on the horizon?
While its stock will probably take quite some time to recover from its recent lows, Tonix does have a few projects in the pipeline that could deliver future growth.
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What is TNX 102 SL?
Tonmya, also known as TNX-102 SL, had received breakthrough therapy designation from the FDA for its applications in PTSD. And just this month, the agency also handed over fast track status for the drug in a different indication: agitation in Alzheimer’s.
Is Tonix aborting its study?
Brittany Meiling. After scoring two promising FDA designations on its lead drug, tiny Tonix Pharmaceuticals is aborting its late-stage study in PTSD due to lousy results — nearly flat-lining the company’s stock Friday morning. The drug, called Tonmya, apparently failed to improve PTSD symptoms when compared to placebo, ...
When will Tonix start testing for PTSD?
Tonix previously noted that it may begin a late-stage study for PTSD in the first quarter of 2017. This remains a large risk, but there have effectively not been new treatments for PTSD for a decade and a half.
Is Tonix a late stage company?
Tonix Pharmaceuticals Holding Corp. (NASDAQ: TNXP) was the disaster of the day on Tuesday after the company announced that it will stop development of its fibromyalgia treatment after it failed in a late-stage trial.
Is Tonix a cure for fibromyalgia?
Fibromyalgia is a chronic disorder that causes musculoskeletal pain, as well as fatigue and sleep disturbances. It has no current cure and the current treatments target symptoms. Quite simply, Tonix showed that the drug candidate did not meet its primary pain reduction target by 30% or more over a 12-week period.
