Initiation: Fibromyalgia and much more
Tonix has a pipeline of three different programs, all targeting large indications. The most advanced program is TNX-102 SL for fibromyalgia. Although the Phase II BESTFIT trial missed the primary endpoint, the proposed Phase III study should have a higher chance of success, due to a much larger sample size and a previously met primary endpoint being used. The post-traumatic stress disorder (PTSD) and episodic tension type headache (ETTH) programs target areas with significant unmet medical needs. We value Tonix at $350m or $21.71 per basic share.Tonix Pharmaceuticals Holding is a clinical-stage biopharmaceutical company focused on discovering and developing pharmaceutical products to treat serious neuropsychiatric conditions and to improve biodefense through the development of potential medical counter-measures. The company's main drug development program is focused on delivering a long-term treatment for posttraumatic stress disorder. The company's primary product candidate, Tonmya, or TNX-102 SL, is a proprietary low-dose cyclobenzaprine sublingual tablet, designed for bedtime administration. TNX-102 SL is also being developed as a treatment for agitation in Alzheimer's disease.
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