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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