Tonix plummets on Phase IIb miss

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) fell $7.01 (50%) to $6.95 on Monday after its TNX-102 SL missed the primary endpoint in a Phase IIb trial to treat fibromyalgia.

In the 205-patient BESTFIT study, 2.8 mg of the sublingual formulation of cyclobenzaprine given before bed failed to reduce average daily pain scores from baseline to 12 weeks compared to placebo. ...