The following post was written and/or published as a collaboration between Benzinga's in-house sponsored content team and Tonix Pharmaceuticals Holding Corp. The sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. This content is for informational purposes only and not intended to be investing advice.
The fibromyalgia treatment market appears set for a potential shake-up as micro-cap firm Tonix Pharmaceuticals Holding Corp. TNXP and midcap Axsome Therapeutics AXSM both guide to filing for FDA approval with their drugs this year. Both companies have promising fibromyalgia treatments looking to get FDA approval in 2025 – potentially reshaping a market that has not seen a new FDA-approved drug in over 15 years.
The prospect of two new fibromyalgia drugs is reminiscent of the Lyrica® – Cymbalta® rivalry in the 2010s. While the Pfizer PFE – Eli Lilly LLY rivalry was a battle between two giants, the upcoming fibromyalgia rivalry looks more like David and Goliath. Tonix has a market cap of just about $12 million compared to Axsome's close to $4 billion .
Already, Tonix markets two prescription drugs for migraine headaches, and Axsome markets an antidepressant and a treatment for narcolepsy. The Fibromyalgia Landscape According to an opportunity analysis commissioned by Tonix and carried out by Eversana for Tonix's drug, TonmyaTM*, fibromyalgia affects around 2.7 million diagnos.
