On March 27, 2014, an article was posted to Seeking Alpha calling Tonix Pharmaceuticals (NASDAQ:TNXP), "extremely over-priced" and the company's lead pipeline candidate, TNX-102SL, "completely unneeded." The article was authored by Bioassociate Consulting, an Israeli-based consulting company with claimed expertise in the life science arena, specifically with respect to providing research and analysis services to international life science companies and investment entities (investment banks, private and institutional investors). In connection with the article, the authors have assumed a short position in the stock.
The authors make three key assertions as to why Tonix is over-valued and the drug is unneeded. We summarize their position:
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