Why Tonix Pharmaceuticals (TNXP) Stock Jumped Monday Morning
Shares of Tonix Pharmaceuticals Holding Corp (NASDAQ:TNXP) are trading higher Monday morning after the company announced the U.S. commercial availability of its new drug, TONMYA. Here’s what investors need to know.
- TNXP is trading higher today. See what the experts say here.
What To Know: The announcement marks a major milestone, as Tonix says TONMYA is the first FDA-approved treatment for fibromyalgia in more than 15 years. The drug is a non-opioid analgesic, designed to treat the widespread pain that is a core symptom of the disease.
CEO Seth Lederman stated the launch provides a novel treatment for the estimated 10 million U.S. adults living with fibromyalgia. The FDA approved the drug on Aug. 15, following two Phase 3 trials that demonstrated a significant reduction in daily pain scores compared to placebo.
This commercial rollout follows the company’s Nov. 10 earnings report, which included a revenue beat ($3.29 million actual, versus $2.30 million estimated). The launch provides investors with a new, key revenue driver for the biotechnology company.
Benzinga Edge Rankings: According to Benzinga Edge rankings, Tonix currently has a Momentum score of 22.63.
TNXP Price Action: Tonix shares were up 6.48% at $16.93 at the time of publication on Monday, according to Benzinga Pro data.
How To Buy TNXP Stock
Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.
For example, in Tonix Pharmaceuticals’ case, it is in the Health Care sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
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