Tonix Pharma axes CSO role at year end

|About: Tonix Pharmaceuticals ... (TNXP)|By:, SA News Editor

Tonix Pharmaceuticals (NASDAQ:TNXP) will eliminate the position of Chief Scientific Officer (CSO) effective December 31. Current CSO Bruce Daugherty, Ph.D., will resign at that time.

To ease the transition, Dr. Daugherty will receive a severance payment equal to one year's salary, health benefits for him and his family for one year and automatic acceleration of the vesting and exercisability of outstanding unvested stock awards that would have vested over the 12-month period.

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