Tonix drops 20% despite winning approval for fibromyalgia drug

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* Tonix Pharmaceuticals (NASDAQ:TNXP [https://seekingalpha.com/symbol/TNXP]) is off ~20% in Monday trading despite winning [https://seekingalpha.com/news/4486241-tonix-wins-fda-approval-fibromyalgia-drug-tonmya] U.S. FDA approval of its fibromyalgia treatment Tonmya (cyclobenzaprine sublingual tablets) on Friday.
* The stock surged ~19% in after-hours trading on August 15.
* Trading in the stock was halted at 933a ET Monday morning before resuming five minutes later.
* In a just published assessment of the approval, Seeking Alpha Investing Group Leader Edmund Ingham sees a mixed bag for Tonix going forward. While Tonmya's oral administration and lack of new fibromylagia treatments are positive, "on the negative side, the drug has a slightly troubling safety record."
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He added [https://seekingalpha.com/article/4814210-tonix-secures-fibromyalgia-approval-what-investors-should-know] that if Tonix wants a big commercial launch, it will likely need to raise funds through a share price offering which would be dilutive to current investors.

MORE ON TONIX PHARMACEUTICALS

* Tonix Secures Fibromyalgia Approval - What Investors Should Know [https://seekingalpha.com/article/4814210-tonix-secures-fibromyalgia-approval-what-investors-should-know]
* Tonix Pharma: Eyes On FDA Deadline This Friday, I See A 65% Approval Potential [https://seekingalpha.com/article/4813153-tonix-pharma-eyes-on-fda-deadline-this-friday-i-see-a-65-percent-approval-potential]
* Tonix Pharmaceuticals: Big Risk, Bigger Reward - Initiating With A Buy [https://seekingalpha.com/article/4795180-tonix-pharmaceuticals-big-risk-bigger-reward-initiating-with-a-buy]
* Tonix wins FDA approval of fibromyalgia drug Tonmya [https://seekingalpha.com/news/4486241-tonix-wins-fda-approval-fibromyalgia-drug-tonmya]
* Tonix up after peer reviewed data for pain therapy and new data for mpox vaccine [https://seekingalpha.com/news/4466558-tonix-pharma-stock-up-data-pain-drug]