Tonix Pharmaceuticals (TNXP) Stock: Gains On First Patient Enrollment


Tonix Pharmaceuticals Holding Corp. (NASDAQ: TNXP)

Tonix Pharmaceuticals is having an overwhelmingly strong day in the market today, and for good reason. The company released positive patient enrollment news, causing investor excitement (as can be seen on the StockTwits ticker feed) and sending the stock upward. Of course, this prompted our friends at Trade Ideas to send the alert. At the moment (8:42), TNXP is trading at $6.35 per share after a gain of $2.21 per share (53.38%) thus far today.

TNXP Announces First Phase 3 Patient Enrollment

As mentioned above, TNXP is having an overwhelmingly strong time in the market, at the moment, after announcing that it had enrolled its first patient into the Phase 3 HONOR study. The study is focusing on TNX-102 SL 5.6 mg for the treatment of posttraumatic stress disorder, also known as PTSD. In a statement, Dr. Seth Lederman, President and CEO at TNXP, had the following to offer with regard to the news:

Enrolling the first patient in the HONOR study is an important event not only to Tonix, but potentially to millions who suffer worldwide from both civilian and military-related PTSD… The HONOR study is designed to confirm the clinical benefit of TNX-102 SL to improve PTSD symptoms across several measures as demonstrated in our Phase 2 AtEase study in military-related PTSD.”

What We’ll Be Watching For Ahead

Moving forward, the CNA Finance team will be keeping a close eye on TNXP. In particular, we’re interested in following the company’s ongoing work surrounding TNX-102 SL, and considering the strong Phase 2 results, we are expecting the Phase 3 trial to be overwhelmingly positive. Nonetheless, we’ll continue to follow the story and bring the news to you as it breaks!

What Do You Think?

Where do you think TNXP is headed moving forward? Join the discussion in the comments below!

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