Dow Jones Newswires: Tonix shares sink 29% on discontinued development on depression treatment

Shares of Tonix Pharmaceuticals TNXP, +2.97%fell Tuesday after the company said it would discontinue development of its treatment for major depressive disorder. The stock was down 29%, to 42 cents, in after-hours trading, following a 3% rise at Tuesday’s close. Shares are down 76% this year.The Chatham, N.J.-based pharmaceutical company said that a study of TNX-601 ER, its depression treatment, had not met its primary efficacy endpoint, and had not shown a clinically or statistically meani