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Fly News Breaks for September 7, 2016
TNXP
Sep 7, 2016 | 07:21 EDT
Cantor analyst Chiara Russo downgraded Tonix after its TNX-102 SL drug missed its primary endpoint in a Phase 3 study of fibromyalgia patients, and the company decided to no longer pursue the fibromyalgia endpoint. Russo notes that the company now plans to pursue PTSD as the lead indication, but the analyst continue to "remain cautious" on that indication. Target to $1 from $5.