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Why Tonix Pharmaceuticals Stock Is Crashing Today

TheMotleyFool

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Why Tonix Pharmaceuticals Stock Is Crashing TodayPhoto, wide shot, wide-angle lens, Clinical research organization, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by David Maisel: https://img.theapi.app/temp/0e9d087d-988e-4397-b7cf-6049e2776769.png

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

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