Tonix's depression fail; Lilly exercises option in Sitryx deal; Milner stops fight against Abcam acquisition
Tonix drops depression drug after PhII failure: Tonix Pharmaceuticals is discontinuing its major depressive disorder program, TNX-601 ER, after a mid-stage disappointment. The oral formulation of tianeptine missed statistical significance for the primary endpoint of change from baseline in depression severity, which is measured using the Montgomery-Åsberg Depression Rating Scale. The company’s share price $TNXP plummeted about 17% to $0.48 on Wednesday after the news was announced. — Ayisha Sharma
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