Tonix Adds 21M Medicare Lives for TONMYA, Total Coverage Hits 166M
TNXP is trading near its 52-week low of $9.4 (15% above the low).
Summary
Tonix expanded Medicare Part D coverage for TONMYA by ~21 million lives, bringing total Medicare coverage to ~32 million and total commercial/government coverage to ~166 million. This is a significant step in the commercial rollout of the first new fibromyalgia drug in over 15 years. The company now has majority Medicare coverage (58%), reducing access friction for prescribers. With a 150-rep sales force in place, the expanded coverage could accelerate prescription uptake and revenue. The next key data point will be prescription or revenue traction in upcoming quarterly updates.
At the time of this announcement, TNXP was trading at $10.78 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $183.9M. The 52-week trading range was $9.40 to $28.42. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Wiseek News.