Tonix crash­es on PhI­II PTSD fail­ure, send­ing stock to the gut­ter

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, miss­ing its pri­ma­ry end­point af­ter 12 weeks of treat­ment. Ton­mya is an un­der-the-tongue for­mu­la­tion of cy­cloben­za­prine, com­mon­ly used as a mus­cle re­lax­er.

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