Tonix Pharmaceuticals Announces Director Stepping Down
August 02 2019 - 4:05PM
Tonix Pharmaceuticals Holding Corp. (Nasdaq: TNXP) (Tonix)
announced that Patrick Grace stepped down from the Company’s Board
of Directors, effective August 1, 2019. Mr. Grace has been a member
of Tonix’s Board of Directors since 2011.
“It has been my privilege to have worked with the Board and the
management team of Tonix," said Patrick Grace. “I am looking
forward to following the continued progress of the Company.”
Seth Lederman, M.D., Chief Executive Officer of Tonix,
commented, “On behalf of the Company and the Board, I want to thank
Patrick for his significant contributions and service to Tonix over
the past eight years. We wish Patrick the best for the
future.”
About Tonix Pharmaceuticals Holding Corp.
Tonix is a clinical-stage biopharmaceutical company focused on
discovering and developing small molecules and biologics to treat
psychiatric, pain and addiction conditions, and biological products
to improve biodefense through potential medical counter measures.
Tonix’s lead program is for the development of Tonmya, or TNX-102
SL* (sublingual cyclobenzaprine HCl tablets), which is in Phase 3
development as a bedtime treatment for posttraumatic stress
disorder (PTSD). Tonix is also developing TNX-102 SL as a bedtime
treatment for fibromyalgia and for agitation in Alzheimer’s disease
under separate Investigational New Drug applications (INDs) to
support potential pivotal efficacy studies. The fibromyalgia
program is in Phase 3 development and the agitation in Alzheimer’s
program is Phase 2 ready. TNX-1300** (T172R/G173Q double-mutant
cocaine esterase 200 mg, i.v. solution) is being developed under an
IND and is in Phase 2 development for the treatment of cocaine
intoxication. TNX-601 (tianeptine oxalate) is in the pre-IND
application stage, also for the treatment of PTSD but works by a
different mechanism from TNX-102 SL and is designed for daytime
dosing. TNX-601 is also in development for a potential indication -
neurocognitive dysfunction associated with corticosteroid use. Data
is expected in the second half of 2019 for a Phase 1 clinical
formulation selection pharmacokinetic study of TNX-601 that is
being conducted outside of the U.S. TNX-801 (live horsepox virus
vaccine for percutaneous (scarification) administration) is a
novel, live virus vaccine grown in cell culture that is a potential
smallpox-preventing vaccine currently in the pre-IND application
stage of development.
* Tonmya has been conditionally accepted by the U.S. Food and
Drug Administration (FDA) as the proposed trade name for TNX-102 SL
for the treatment of PTSD.TNX-102 SL is an investigational new drug
and has not been approved for any indication.
**TNX-1300 is an investigational new biological product and has
not been approved for any indication.
This press release and further information about Tonix can be
found at www.tonixpharma.com.
Forward-Looking
Statements
Certain statements in this press release are forward-looking
within the meaning of the Private Securities Litigation Reform Act
of 1995. These statements may be identified by the use of
forward-looking words such as “anticipate,” “believe,” “forecast,”
“estimate,” “expect,” and “intend,” among others. These
forward-looking statements are based on Tonix's current
expectations and actual results could differ materially. There are
a number of factors that could cause actual events to differ
materially from those indicated by such forward-looking statements.
These factors include, but are not limited to, risks related to
failure to obtain FDA clearances or approvals and noncompliance
with FDA regulations; our need for additional financing;
uncertainties of patent protection and litigation; uncertainties of
government or third party payor reimbursement; limited research and
development efforts and dependence upon third parties; and
substantial competition. As with any pharmaceutical under
development, there are significant risks in the development,
regulatory approval and commercialization of new products. Tonix
does not undertake an obligation to update or revise any
forward-looking statement. Investors should read the risk factors
set forth in the Annual Report on Form 10-K for the year ended
December 31, 2018, as filed with the Securities and Exchange
Commission (the “SEC”) on March 18, 2019, and periodic reports on
Form 10-Q filed with the SEC on or after the date thereof. Tonix
does not undertake any obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as required by law.
Contacts
Jessica Morris (corporate)Tonix
Pharmaceuticalsinvestor.relations@tonixpharma.com (212)
980-9159
Scott Stachowiak (media)Russo
Partnersscott.stachowiak@russopartnersllc.com (646)
942-5630
Peter Vozzo
(investors)Westwickepeter.vozzo@westwicke.com (443)
213-0505
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