Tonix Pharmaceuticals Holding Corp (NASDAQ: TNXP) is flying early on in the trading session this morning, and for good reason. The company announced its first patient enrollment in a Phase 3 clinical trial.
Of course, the news excited investors who are pushing the stock on a run for the top. Today, we’ll talk about:
- The patient enrollment;
- what we’re seeing from TNXP stock as a result; and
- what we’ll be watching for ahead.
TNXP Announces Patient Enrollment News
As mentioned above, Tonix Pharmaceuticals is having a great start to the trading session this morning after the company announced patient enrollment news. The announcement came by way of press release early this morning.
In the release, TNXP said that it enrolled its first patient in the RECOVERY study. The clinical trial is a new Phase 3 study of Tonmya 5.6 mg. In the study, the company is assessing the treatment as an option for the treatment of posttraumatic stress disorder.
In a statement, Seth Lederman, M.D., President and CEO at TNXP, had the following to offer:
Tonix is committed to improving the lives of the millions who suffer from PTSD, especially military-related PTSD, and enrolling the first participant in the RECOVERY study is an important step towards achieving this goal. We believe the innovative design features of the RECOVERY study, which are based on careful analyses of data from our prior PTSD trials, in addition to FDA feedback, may increase the probability of success of the RECOVERY study. We look forward to progressing enrollment and to anticipated topline results in the first half of next year.
What We’re Seeing From The Stock
As investors, one of the first lessons that we learn is that the news moves the market. When it comes to Tonix Pharmaceuticals, the news proved to be incredibly positive.
After all, enrollment in this Phase 3 trial is an important step forward in the development of Tonmya for the PTSD indication. So, it’s not surprising to see that excited investors are pushing the stock on a run for the top.
As is just about always the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (10:23), TNXP is trading at $3.42 per share after a gain of $0.62 per share or 22.18% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on TNXP. In particular, we’re interested in following the story surrounding the company’s continued work to bring Tonmya to PTSD patients in need. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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