Earlier this month, when TONIX Pharmaceuticals, developer of drugs for treating central nervous system disorders, announced the closing of the final tranche of a private placement financing deal resulting in total net proceeds of $5.9 million, the company indicated that the proceeds, from institutional and accredited investors, would fund further development of its two lead drug candidates, TNX-102 and TNX-105.
Unlike most new drugs, which face a full set of costly efficacy and safety evaluations, the two lead candidates from TONIX are based upon a drug which is already being used safely by millions of people around the world, cyclobenzaprine. The drug is used primarily as a muscle relaxant, to relieve pain from muscle injuries, but TONIX believes that, in the proper doses, cyclobenzaprine can be effective in the treatment of fibromyalgia syndrome (FM) and post-traumatic stress disorder (PTSD).
FM and PTSD affect a larger number of people than might be expected. In the case of PTSD, it is believed that approximately 30% of war veterans, 45% of battered women, 50% of sexually abused children, and 35% of adult rape victims will suffer from PTSD at some point in their lifetime. PTSD symptoms can be disabling when severe, and can include amnesia, flashbacks, and a reduced ability to focus on a task. And PTSD doesn’t just result from extreme cases of violence or abuse. Studies have shown that police, firefighters, and even healthcare workers are far more likely to suffer PTSD than the average person. In some cases, even the loss of a loved one, a divorce, or loss of a career can bring with it the risk of PTSD.
TONIX uses sophisticated technologies to identify existing prescription pharmaceutical agents, drugs already established and verified, that have the potential for treating other CNS diseases. The company then does the research necessary to develop new dosage formulations that optimize the drug’s efficacy for the new application. The goal is to create options that are superior to existing CNS disease treatments.
For additional information, visit the company’s website at www.TonixPharma.com
About MissionIR
MissionIR is committed to connecting the investment community with companies that have great potential and a strong dedication to building shareholder value. We know our reputation is based on the integrity of our clients and go to great lengths to ensure the companies represented adhere to sound business practices.
Sign up for “The Mission Report” at www.MissionIR.com
Please see disclaimer on the MissionIR website http://www.missionir.com/disclaimer.html
