Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) shares are trading higher Wednesday after the company announced commercial payer coverage for its fibromyalgia treatment TONMYA.

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Tonix Expands Patient Access To TONMYA

The company said it entered into an agreement effective May 1, with a group purchasing organization that provides coverage to approximately 35 million U.S. commercial lives, representing about 20% of the roughly 177 million commercial lives in the U.S. Coverage includes standard utilization management criteria.

TONMYA (cyclobenzaprine HCl sublingual tablets) is indicated for the treatment of fibromyalgia in adults as a daily bedtime medicine for long-term use. Tonix said the treatment commercially launched in November 2025 and is the first FDA-approved treatment for fibromyalgia in adults in more than 15 years.

"This agreement is an important milestone in expanding patient access to TONMYA," said Seth Lederman, president and CEO of Tonix Pharmaceuticals.

Lederman said the company plans to continue pursuing additional coverage across commercial and government channels.

Tonix also said TONMYA is currently covered under Medicaid in 38 states for approximately 55 million lives, representing 73% of the roughly 75 million Medicaid lives in the U.S.

The company noted that the TONMYA Together Support Program offers savings support for eligible commercially insured patients through local pharmacies and a digital pharmacy service.

Tonix Shares Soar

TNXP Price Action: At the time of publication, Tonix shares are trading 5.93% higher at $14.30, according to data from Benzinga Pro.

This illustration was generated using artificial intelligence via Midjourney.