Based in New York, Tonix Pharmaceuticals Holding Corp (NASDAQ:TNXP). is a clinical-stage biopharmaceutical company, which focuses on the discovery, acquisition, and development of small molecules and biologics to treat and prevent human disease and alleviate suffering. Its portfolio includes TNX-102 SL, TNX-601, TNX-801, and TNX-1800.However, recently the entire company is appearing quite fragile. The company has recently reported that it would not register any new patients with fibromyalgia with respect to TNX-102 SL.
The trials recommended the halt, citing insufficient benefit to patients beyond what they’d experience with a placebo. Thus, it becomes quintessential for the investors to wait for the results of the trials for the patients that have been already enrolled, before investing their pockets in the company. The results of the trials are anticipated to come by the fourth quarter of the year.
Another thing that makes Tonix a troubled biotech is the fact that TNX-102 SL is also being investigated in late-stage clinical trials for PTSD, Alzheimer’s disease, and alcohol use disorder. The drug which was designed to improve the sleep quality of the patients and to treat them from fibromyalgia in its inception time, seems to be unable to fulfil its responsibility. As it is apparent, the drug is unable to perform what it had promised when it was designed, the possibilities of it not being able to perform much better in other diseases context becomes higher.
Looking at the stocks of Tonix, with a handful of projects in the pipeline, the company still has the potential to deliver growth, given its interesting portfolio of early-stage coronavirus medicines. With three programs entering into phase 2 trials by the end of this year, makes it a much more confident stock for the investors for the year 2022. But then, investors must be really cautious now before investing.