Tonix Pharmaceuticals Announces Director Stepping Down
May 17 2019 - 4:05PM
Tonix Pharmaceuticals Holding Corp. (Nasdaq: TNXP) (Tonix)
announced that Donald W. Landry, M.D., Ph.D., is stepping down from
the Company’s Board of Directors, effective May 16, 2019. Dr.
Landry has served on the Board of Directors of Tonix since 2011 and
co-founded Tonix Pharmaceuticals in 2007, along with Seth Lederman,
M.D., Chief Executive Officer of Tonix.
“Tonix Pharmaceuticals was founded with the vision of
discovering and developing pharmaceutical products to treat serious
psychiatric and pain conditions,” said Dr. Landry. “I commend the
dedicated and passionate employees of Tonix on their achievements
to date and look forward to following the progress of the Company
in the future.”
Dr. Lederman commented, “On behalf of the Company and the Board,
I want to thank Dr. Landry for helping establish Tonix’s vision and
for being a valuable resource for the company in his role as a
board member. The Board, management team and I deeply appreciate
the years of dedicated service and guidance that Don has given the
Company.”
About Tonix Pharmaceuticals Holding Corp.
Tonix is a clinical-stage biopharmaceutical company focused on
discovering and developing pharmaceutical products to treat
psychiatric and pain conditions, and biological products to improve
biodefense through potential medical counter-measures. Tonix’s lead
program is for the development of Tonmya* (TNX-102 SL), which is in
Phase 3 development as a bedtime treatment for PTSD. Tonix is also
developing TNX-102 SL as a bedtime treatment for fibromyalgia and
agitation in Alzheimer’s disease under separate 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. The agitation in Alzheimer’s disease IND has been
designated a Fast Track development program by the FDA.
TNX-601 (tianeptine oxalate) is in the pre-IND application stage,
also for the treatment of PTSD but by a different mechanism from
TNX-102 SL and designed for daytime dosing. TNX-601 is also in
development for a potential indication - neurocognitive dysfunction
associated with corticosteroid use. A Phase 1 clinical formulation
selection pharmacokinetic study of TNX-601 will be conducted
outside of the U.S. in 2019. Tonix’s lead biologic candidate,
TNX-801, is a potential smallpox-preventing vaccine based on a live
synthetic version of horsepox virus, currently in the pre-IND
application stage.
*Tonmya has been conditionally accepted by the U.S. Food and
Drug Administration (FDA) as the proposed trade name for TNX-102 SL
(cyclobenzaprine HCl sublingual tablets) for the treatment of PTSD.
TNX-102 SL is an investigational new drug 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
filed with the SEC on or after the date thereof. All of Tonix's
forward-looking statements are expressly qualified by all such risk
factors and other cautionary statements. The information set forth
herein speaks only as of the date thereof.
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)Westwicke
Partnerspeter.vozzo@westwicke.com(443) 213-0505
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