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Tonix Pharma's TNX-601 ER Trial Misses Endpoint; AMD Posts Upbeat Results

  • November 01st, 2023
  • 290 views

Shares of Tonix Pharmaceuticals Holding Corp. (Nasdaq: TNXP) experienced a drastic over 20% decline in after-hours trading following the release of Phase 2 proof-of-concept study results for TNX-601 ER, intended for patients with major depressive disorder (MDD). Unfortunately, the study's primary efficacy endpoint, the change in depression severity, measured by the Montgomery-Åsberg Depression Rating Scale (MADRS) total score, did not achieve the expected clinical or statistical significance. Consequently, Tonix has decided to discontinue the development of TNX-601 ER.

$TNXP was trading at $0.41 in the extended session, marking a substantial drop of $0.17 (-29.12%).

On a different note, Advanced Micro Devices, Inc. (Nasdaq: AMD) reported earnings per share (EPS) of $0.70 for the third quarter of 2023, surpassing the consensus EPS estimate of $0.68. The company's quarterly revenue amounted to $5.8 billion, slightly above analysts' expectations of $5.69 billion in revenue.

Looking ahead to the fourth quarter of 2023, AMD foresees revenue in the range of approximately $5.80 billion to $6.40 billion, while the consensus estimate points to $6.40 billion in revenue for the period.

$AMD was trading at $98.04 in after-hours, down $0.46 (-0.47%).

 

THIS IS NOT A RECOMMENDATION TO BUY OR SELL ANY SECURITY OR DIGITAL ASSET. Please consult with a professional investment advisor before purchasing or selling any securities viewed on or mentioned herein. (Read Full Disclaimer)

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