Why Tonix Pharmaceuticals Stock Is Crashing Today
Shares of Tonix Pharmaceuticals (NASDAQ: TNXP) were crashing 28.3% lower as of 10:24 a.m. EDT on Monday. The big decline came after Tonix announced on Friday following the market close that it is halting enrollment in a late-stage clinical study evaluating TNX-102 SL in treating fibromyalgia.
Tonix made the decision to stop enrollment in its late-stage study of TNX-102 SL after the study's Independent Data Monitoring Committee (IDMC) completed an interim analysis. The IDMC recommended stopping the study after concluding that TNX-102 SL was unlikely to demonstrate a statistically significant clinical improvement for patients with fibromyalgia.
Image source: Getty Images.
Source Fool.com
