Tonix Pharmaceutical Holding Corp. (NASDAQ: TNXP) has disclosed the positive results in the Phase III RELIEF study evaluating TNX-102 SL in fibromyalgia. RELIEF was 14 weeks study in which 503 victims with fibromyalgia were enrolled.
In the first two weeks, all the victims have received one tablet of TNX-102 SL (2.8 mg) or placebo and for the remaining weeks, all the subjects have got two tablets of TNX-102 SL (5.6 mg) or placebo.
Fibromyalgia is a condition in which patients feel pain, stiffness, and tenderness in muscles, joints, and tendons. Millions of people are experiencing this disease and nearly 90% of them are females. TNXP new RELIEF study brings new hope for the sufferers. It has been disclosed that the two tablets of TNX-102 which is 5.6 mg are proven to be very useful in reducing the conditions in patients.
Shares of Tonix Pharmaceutical Holding Corp. soared 71.43% as it gained +0.45 during the pre-market trading session of Monday. In the past 52-weeks of trading, the company’s share fluctuated between the low range of $0.39 and a high range of $2.46.
It has moved up 61.46%% from its 52-weeks low and moved down to -74.39% from its 52-weeks high. Looking at its liquidity, it has a current ratio of 14.20. Tonix Pharmaceutical Holding Corp’s market capitalization has remained high, hitting $95.90 million at the time of writing.
It is challenging to find a cure for the condition which is safe and shows no negative effects and it seems like Tonix Pharmaceuticals is finally successful in finding the cure for Fibromyalgia which is safe and tolerable. The firm is planning to report the result of the Phase III study, RALLY, in the second half of 2021.
Furthermore, Tonix Pharmaceuticals believes that after finding positive results from the Phase III Study, RALLY, the firm will be able to file NDA for NX-102 SL for fibromyalgia to the FDA in 2022.