Tonix Pharmaceuticals and Athersys Advance as FDA Clinical Trials Move Forward

NEW YORK, NY / ACCESSWIRE / March 30, 2017 / The two companies posted nice gains as each company is showing signs of bringing their product to market as their products garner the attention of investors and peers alike. Tonix has broken through one barrier as their Phase III trial begins, while Athersys gains the attention of a professional, peer-reviewed journal.

RDI Initiates
Coverage:

Tonix Pharmaceuticals
Holding Corp. https://ub.rdinvesting.com/news/?ticker=TNXP

Athersys, Inc. https://ub.rdinvesting.com/news/?ticker=ATHX

Tonix Pharmaceuticals advanced 34.54% to close at $5.47 on Wednesday. The stock traded in a wide range, bouncing between $9.40 and $5.45 a share on a very large volume of 30.35 million shares traded. On March 28th, Tonix, a company that develops drugs for common central nervous system disorders, has enrolled its first participant in a military related PTSD Phase 3 HONOR Trial of its breakthrough drug. The drug, TNX-102 SL, a drug designed for the treatment of post-traumatic stress disorder (PTSD) has been recently granted the status of Breakthrough Therapy by the U.S. Food and Drug Administration (FDA). The company has been invited to present its FDA Breakthrough Therapy drug at The MicroCap Conference, to be held in New York City on April 4th of this year.

Earlier on March 27th, Tonix performed a reverse stock split exercise of 1-for-10 on its outstanding stocks, to comply with the NASDAQ rules. Tonix has narrowed its losses to $7.6 million in the third quarter of 2016 as compared to loss of $13.25 million reported in the same period in 2015. Reported cash assets as on September 30th were $26.7 million and on March 29th, Tonix announced proposed public offering of common stock, the proceed from which will be used for the further development of TNX-102 SL and other drugs in the pipeline and to improve its cash positions and working capital.

Access RDI’s Tonix Pharmaceuticals Research Report at: https://ub.rdinvesting.com/news/?ticker=TNXP

Athersys advanced 22.03% to close at $1.44 on Wednesday. The stock traded between $1.52 and $1.29 on a higher volume of 11.4 million shares traded. MultiStem is used to treat patients who have suffered an ischemic stroke, which accounts for an estimated more than 80% of all strokes. Athersys is actively involved in research and development in the field of regenerative medicine.

Its MultiStem cell therapy product, is a patented, for off-the-shelf, human stem cell product that was initially intended for disease indications in the neurological, cardiovascular, inflammatory and immune disease areas. The company has expanded the application to several ongoing clinical trials, evaluating its potential regenerative properties in other areas. For investors, Athersys has worked to develop strategic partnerships with some of the world’s leading pharmaceutical and biotechnology companies. In addition, they have collaborated with select world-renowned research institutions to further assist in the development of both its platform and related products.

Athersys has reported a loss of $7.13 million or $0.1 a share on revenue of $1 million for the fourth quarter of 2016 as compared to profit of $3.6 million or $0.04 a share on revenue of $10.6 million reported in the same quarter of 2015. The decline in year-on-year revenue was mainly because Athersys had received license fee of $10.0 million in the fourth quarter of 2015 from Chugai Pharmaceuticals on termination of contract. On March 10th, Athersys announced mixed shelf offering of up to $75 million.

Access RDI’s Athersys Research Report at: https://ub.rdinvesting.com/news/?ticker=ATHX

Our Actionable Research on Tonix Pharmaceuticals Holding Corp. (NASDAQ: TNXP) and Athersys, Inc. (NASDAQ: ATHX) can be downloaded free of charge at Research Driven Investing.

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