Tonix Pharmaceuticals Holding Corp (NASDAQ:TNXP) Stock Moves Up After The FDA News
On Tuesday, the Tonix Pharmaceuticals Holding Corp (NASDAQ:TNXP) stock emerged as one of the significant movers and ended the day with gains of as much as 6%. The rally in the stock may have been triggered by the announcement from the clinical stage biopharmaceutical firm on Monday.
Market Stats
On Tuesday, TNXP stock moved up 5.76% to $0.59 with more than 16.30 million, compared to its average volume of 12.98 million shares. The stock has moved within a range of $0.5650 – 0.6071 after opening the trade at $0.58.
The FDA Update
The company announced on the day that it had made an oral presentation regarding the positive results from the Phase 3 clinical study, named RELIEF, of its product TNX 102 SL. The product in question is meant for the treatment of fibromyalgia and the positive results from the study may have resulted in a sense of optimism among investors.
Those who are interested in taking a look at the presentation could consider visiting the Tonix website. The presentation of the positive data is a significant development for the company and it seems that investors have recognised that as well.
Considering the sort of rally that has been enjoyed by the company, it now remains to be seen if the Tonix stock can continue to hold on to its momentum over the course of the coming days. It may well be a good time to add the stock to your watch lists.
Traders Corner
TNXP stock is trading below the 200-Day and 50-Day Moving averages of $0.60 and $0.98 respectively. However, the stock is trading above the 20-Day moving average of $0.57. The stock is up 12% in the past month.
