After a major regulatory update, Tonix Pharmaceuticals Holding Corp. (NASDAQ: TNXP) saw a sharp increase in the value of its shares. TNXP shares were up 35.02% to $31.10 as of the most recent market check. The spike comes after the business revealed that TNX-102 SL, its experimental fibromyalgia therapy, is being reviewed by regulators.
The FDA Removes the Need for an Advisory Committee Assessment
Tonix Pharmaceuticals stated that the FDA has decided not to convene an Advisory Committee meeting to review the company’s New Drug Application (NDA) for TNX-102 SL, a sublingual form of cyclobenzaprine hydrochloride. If approved, TNX-102 SL would be the first new pharmacological treatment for fibromyalgia in 15 years, providing millions of patients with the ailment with a new therapeutic option.
Understanding Fibromyalgia’s Effects
Central sensitization, in which the central nervous system amplifies pain and sensory impulses, is a characteristic of fibromyalgia, a widespread chronic pain disorder. Neuroimaging studies have revealed significant functional abnormalities in the insula and anterior cingulate cortex of the brain.
The illness affects more than 10 million persons, with a greater frequency among women. Fatigue, non-restorative sleep, chronic, pervasive discomfort, and cognitive impairment—often referred to as “brain fog”—are typical symptoms. Furthermore, psychological issues including anxiety, sadness, headaches, and gastrointestinal distress are frequently linked to fibromyalgia.
Route to Possible Market Introduction
The FDA’s trust in the current clinical evidence supporting TNX-102 SL is indicated by the lack of an Advisory Committee requirement. TNXP anticipates the medication to possibly go on sale in Q4 2025, pending regulatory approval.
TNX-102 SL would introduce a novel class of medications specifically made to treat fibromyalgia if it were authorized. In 2024, the company already received a Fast Track designation for TNX-102 SL. For drugs that address critical medical needs, this FDA initiative speeds up the review process.
This regulatory milestone further demonstrates Tonix Pharmaceuticals’ commitment to addressing unmet medical needs in chronic pain management and positioned the firm for a major advancement in the therapeutic landscape for fibromyalgia.
Following the announcement that Tonix Pharmaceuticals Holding Corp. (NASDAQ: TNXP) will be attending a big investor event, the company’s stock value surged sharply. The most recent market report showed that TNXP shares were up 17.45% at $9.16.
Attending Investor Summits
Tonix Pharmaceuticals (TNXP) announced that on Tuesday, March 11, 2025, its Chief Operating Officer, Jessica Morris, would appear at the 2025 Virtual Investor Summit. This strategic move is expected to boost investor confidence and highlight the business’s latest advancements in fibromyalgia therapy.
Novel Approaches to Fibromyalgia Research
Tonix Pharmaceuticals recently provided positive data at the 7th International Congress on Controversies in Fibromyalgia, held March 3–4, 2025, in Vienna, Austria. The company released data on TNX-102 SL, an investigational treatment for fibromyalgia.
In contrast to conventional oral cyclobenzaprine, which has not shown long-term efficacy, TNX-102 SL showed statistically significant and sustained pain alleviation in two Phase 3 clinical trials. Given the chronic nature of fibromyalgia, it is imperative to find long-lasting therapeutic options, and TNX-102 SL may significantly enhance patient care.
FDA Decision Awaiting
The U.S. Food and Drug Administration (FDA) has set August 15, 2025, as the Prescription Drug User Fee Act (PDUFA) goal date for TNX-102 SL’s marketing authorization determination. If approved, it would be the first novel treatment for fibromyalgia in fifteen years, offering patients who have been suffering from chronic pain a state-of-the-art option.
A New Method for Drug Delivery Increases Efficiency
TNX-102 SL’s sublingual formulation facilitates rapid transmucosal absorption while avoiding first-pass hepatic metabolism. This method raises the bioavailability of cyclobenzaprine by decreasing the formation of norcyclobenzaprine (norCBP), a metabolite associated with reduced efficacy in oral formulations.
The drug successfully met its main goals by significantly reducing daily pain levels when compared to a placebo. Additionally, the drug was generally well tolerated, and clinical testing showed no new safety issues. Tonix Pharmaceuticals’ TNX-102 SL has a lot of promise to address the long-standing unmet needs of fibromyalgia patients, and regulatory approval is quickly approaching.
The world has not yet recovered from the Covid-19 pandemic, a new outbreak is causing fears. There are still widespread lockdowns going on in China due to the SARS-CoV-2 virus variants, but what’s now a rising concern is the monkeypox outbreak in non-endemic regions. Monkeypox, a cousin of the smallpox virus, is endemic to regions of Central and West Africa. However, currently, it is spreading throughout the world with cases in Europe, North America, and Australia. This spread to non-endemic regions has the World Health Organization scratching heads while certain cases have been identified with links to travel near the endemic regions.
Source: timetotimes
The Outbreak
According to Our World Data, confirmed cases as of May 30 had reached over 555 in countries outside of Africa. On May 18, the first case of the virus was identified in the U.S. and the number has now crossed 14 in over 7 states. The WHO says it’s too early to deem the outbreak with a possible risk of emerging as a pandemic while the chances seem low. However, the organization’s risk assessment for the outbreak has now reached a moderate from the initial mild.
The smallpox relative, monkeypox is a rare disease with similar symptoms which are clinically less severe. The symptoms include fever, headache, sore throat, body aches, swollen lymph nodes, and painful lesions over the body. Currently, there is no specific treatment for the virus but vaccines for smallpox have shown 85% potency in monkeypox. Hence, the widely used treatment plans for monkeypox thus include approved smallpox vaccines along with other antivirals.
Therefore, the bewildering outbreak of monkeypox has thrust the need for a potential monkeypox vaccine forward. And pharmaceutical companies with smallpox vaccine in their portfolio or pipeline have subsequently been pushed to the spotlight. One such biotechnology company working on preventative smallpox and monkeypox vaccine is Tonix Pharmaceuticals Holdings Corp. (TNXP).
TNXP & its Pipeline
Due to the macroeconomic and geopolitical turmoil, TNXP has shared the fate of the equities downfall this year. Down nearly 79% this year, the stock has been severely battered. However, given the recent events surrounding the new outbreak, the stock has gained some popularity regarding its smallpox/monkeypox vaccine. As of May 31’s after-hours session, the stock had a price of $3.10 per share. TNXP saw an uptick of over 27% in the session due to the announcement of a share buyback plan.
The biotechnology company has a number of vaccines and treatments in its pipeline, out of which the highlight at the moment is TNX-801. TNX-801 is a vaccine candidate of the company under development for smallpox and monkeypox. It is a live form of horsepox virus and demonstrated safety in a preclinical study back in 2020. TNX-801 is deemed to be much closer to the original smallpox virus vaccine developed by Edward Jenner in the 1900s. Comparably, current smallpox/monkeypox vaccines are considered suboptimal and hence warrant the accelerated development of TNX-801.
Other pipeline candidates of the company include those for long covid and fibromyalgia while trials in PTSD, chronic migraine, Major Depressive Disorder, and allograft rejection are set to commence soon.
TNXP’s Troubles
While the company boasts a robust pipeline with both Covid and the new monkeypox as its targets, TNXP does have a fair share of problems.
The company has yet to generate any revenues and being in the pre-revenue stage, its recent financial results were anything but impressive. For the first quarter of 2022, the company posted a net loss of $26.7 million, which expanded from $20.7 million in the comparable period. Contributors to the larger net loss were higher research and development expenses, as well as general and administrative costs. Both of which grew by nearly $3 million in the one-year stretch. The net loss per share was $0.05 in the quarter, which came just in line with the consensus estimate for Q1.
At the end of the quarter, the company had cash and cash equivalents of $140.4 million, which declined from $178.7 million in the prior quarter.
Moreover, the company has also been dealing with Nasdaq’s non-compliance due to its battered share price. In order to regain compliance, TNXP resorted to artificial means and recently affected a 1-for-32 reverse stock split. The company faced severe scrutiny over the reverse split, as it still has to deal with the underlying problems.
Conclusion
With the outbreak of monkeypox, TNXP has gained some relevance due to its smallpox/monkeypox vaccine. However, the company has a lot to prove and too many troubles. Battered share price, no revenue, increasing losses, and a pipeline that is yet to produce a commercial product. Hence, the stock might be enjoying due to the current monkeypox outbreak, but the company has a long bumpy road ahead as the macroeconomic situation deteriorates further.
On March 28, Tonix Pharmaceutical Holding Corp. (TNXP) after trading in the red during regular trading, rebounded in the after hours. This rebound in the stock can be attributed to the company’s latest investor presentation which includes an overview of the company’s pipeline and developments. The presentation is available on the company’s website while a Current Report regarding the update was also filed with the SEC.
Source: Ethos3
During the regular session, TNXP stock suffered a decline of 4.48% at a volume of 21.02 million shares. The volume of the session remained just below the average at 82%. The stock closed the session at a value of $0.2197 per share. Following the downfall, the stock rebounded in the after-hours to add 6.05%. Thus, TNXP was trading at $0.2330 apiece in the after-hours at a volume of 1.71 million shares.
The clinical-stage biopharmaceutical company, Tonix Pharmaceutical Holding Corp. has a market capitalization of $122.8 million. Founded in 2007, the company has 533.93 million shares outstanding currently.
TNXP Recent Developments
Currently, the company is participating in the ongoing 2022 Virtual Growth Conference which started on March 28 and will end on March 30, 2022. Hosted by M-Vest, the conference is presented by Maxim Group LLC.
TNXP’s President and CEO Seth Lederman was invited to present at the conference.
On March 21, the company announced Phase 3 RALLY study results for TNX-102 SL 5.6 mg for the management of fibromyalgia. According to the results, the company’s fibromyalgia candidate did not achieve statistical significance on the primary endpoint.
Previously, in July 2021, the company’s interim data from the study had suggested the inability of the study to achieve the primary endpoint. Thus, the company stopped further enrollments at that point and continued with the enrolled patients while its Independent Data Monitoring Committee had suggested stopping the study.
Fiscal 2021 Results
On March 14, the company declared its financial results for Q4 and fiscal 2021, which ended on December 31, 2021.
The company had R&D expenses of $22.3 million in Q4 and 68.8 million in fiscal 2021.
Moreover, the G&A expenses were $7.3 million and $23.5 million in Q4 and fiscal 2021, respectively.
TNXP reported a net loss of $29.6 million or $0.07 per share for Q4 2021 while the net loss for fiscal 2021 was $92.3 million or $0.26 per share.
Additionally, the company ended 2021 with cash and cash equivalents of $178.7 million.
Tonix Pharmaceuticals Holding Corp. (TNXP) is a leading global biotherapeutics company focused on the development of therapeutics for different unmet medical conditions. The company’s leading product portfolio includes TNX-1800 used as a COVID-19 vaccine. TNX-3500 and TNX-102 SL are also under the clinical trial stage for the treatment of COVID-19. TNX-102 SL is in Phase 3 clinical trial for treating fibromyalgia and TNX-1300 for cocaine intoxication.
The price of TNXP stock during regular trading on March 3, 2022, was $0.25 with a surge of 33.07%. At last check in the premarket on March 4, 2022, its price plunged by 7.98%.
TNXP: Events and Happenings
On March 03, 2022, TNXP reported the grant of Orphan-Drug Designation by the FDA to TNX-2900 used in treating Prader-Willi syndrome. On February 28, 2022, TNXP updated on its entry into a research contract with Inserm Transfert. Both the companies agreed upon studying oxytocin levels in the mouse model for Prader-Willi syndrome.
On February 07, 2022, TNXP announced its Executive management’s participation at the Virtual BIO CEO & Investor Conference held on February 14-17, 2022. On January 11, 2022, TNXP informed the press about the initial patient enrollment in dose-finding trials for TNX-2100. It is used to measure delayed-type hypersensitivity to SARS-CoV-2.
On January 05, 2022, TNXP updated on its management’s presentation at the following conferences.
Virtual H.C. Wainwright BioConnect Conference held on January 10-13, 2022, and
The Biotech Virtual Showcase 2022 was held on January 10-12 & 17-19, 2022.
TNXP: Key Financials
On November 8, 2021, TNXP released its unaudited financial outcomes for the third quarter ended September 30, 2021. Some of the main features are discussed here.
Revenue
No revenue was recorded in the third quarter of 2021 as in the same quarter of 2020.
EPS
Net loss per basic and diluted share in the third quarter of 2021 was $18.5 million or $0.05 comparable to $11.9 million or $0.09 in the same quarter of 2020. The company’s EPS topped the analysts’ estimates by $0.02.
Conclusion
TNXP stock is 73% low from the past year as a result of the pandemic. Currently, the company is working tirelessly to prove itself as a leading biotech company as its stock swelled in Thursday’s regular trading after it announced ODD to its lead candidate by the FDA. In Friday’s premarket session, the company’s stock declined gradually to shed its yesterday’s gain. The fourth-quarter earnings release date is also approaching and the company expects an EPS of -$0.06.
Tonix Pharmaceuticals Holding Corp. (TNXP) is a biotherapeutics company engaged in the discovery, licensing, acquisition, and development of therapeutics for different diseases. The company’s product pipeline consists of TNX-1800 as a COVID-19 vaccine. TNX-3500 and TNX-102 SL are under the clinical stage for treating COVID-19. TNX-102 SL is the company’s CNS candidate in Phase 3 trials for treating fibromyalgia. TNX-1300 is used to treat cocaine intoxication.
The price of TNXP stock during the regular trading on February 7, 2022, was $0.23 with an incline of 6.65%. At last check in the premarket on February 8, 2022, the stock dropped by 3.87%.
TNXP: Events and Happenings
On February 07, 2022, New to the Street TV updated about interviewing TNXP’s CEO Seth Lederman on the same date. The host and guest discussed the company’s Covid-19 vaccine, antiviral pharmaceutical, and COVID-related innovative product line. On February 07, 2022, TNXP was informed about attending the Virtual BIO CEO & Investor Conference by its Executive management. The conference will be held on February 14-17, 2022.
On January 11, 2022, TNXP reported about the preliminary patient enrollment in the dose-finding trials for TNX-2100. It is used to measure delayed-type hypersensitivity (DTH) to CoV-2. On January 05, 2022, TNXP announced that the Executive management of the company participated in the following conferences.
Virtual H.C. Wainwright BioConnect Conference on January 10-13, 2022.
The Virtual Biotech Showcase 2022 was held on January 10-12, 2022.
On January 04, 2022, TNXP was informed about the research partnership and options contract with Kansas State University. Both parties agreed upon the development of zinc nanoparticle mRNA vaccines to replace the lipid-nanoparticle technology. The ZNP technology conferred augmented stability to mRNA vaccination over a wide temperature range. On December 15, 2021, TNXP was added to the Nasdaq Biotechnology Index with effect from December 20, 2021.
TNXP: Key Financials
On November 8, 2021, TNXP released its financial results for the third quarter of 2021 ended September 30, 2021. Some of the key highlights are mentioned below.
Assets
Total current assets in Q3 2021 were recorded to be $195 million.
EPS
Basic and diluted net loss per share in Q3 2021 was $18.5 million or $0.05 compared to $11.9 million, or $0.09 in the same period of 2020. The company’s EPS beat the analyst’s estimate by $0.02.
Conclusion
TNXP’s stock downplayed by 66% from the last six months period due to financial restrains by the pandemic. The company’s stock declined in the current premarket despite the fact that the company announced a special stockholders meeting and its interview being featured on the New to the Street TV. As TNXP is approaching its earning release date, the analysts are predicting the current quarter’s EPS to be -$0.05.
TNXP stock closed Friday, July 23, 2021 at $0.98. Earlier in the morning session on Monday, TNXP shares lost 34.18% at $0.64. Tonix Pharmaceuticals Holding Corp. (TNXP) shares have fallen 35.10% over the last 12 months, and they have moved up 0.04% in the past week. Over the past three months, the stock has lost 5.77%, while over the past six months, it has shed 4.85%.
Let’s have a brief look at its recent news and developments.
Negative Results of Interim Analysis of Phase 3 Study of TNX-102 SL
On July 23, 2021, Tonix Pharmaceuticals Holding Corp (TNXP) decided to stop enrollment in the Phase 3 RALLY study of TNX-102 SL (cyclobenzaprine HCl sublingual tablets) 5.6 mg for the management of fibromyalgia following an unblinded, pre-planned interim analysis by the Independent Data Monitoring Committee (IDMC) of the RALLY study.
IDMC recommended stopping the trial for futility, after the interim analysis results of the first 50% enrolled participants as TNX-102 SL is unlikely to demonstrate a statistically significant improvement in the primary endpoint of overall change from baseline in daily diary pain severity scores between those treated with TNX-102 SL 5.6 mg (2x 2.8 mg tablets) and those receiving placebo.
TNXP New board member appointment
Tonix Pharmaceuticals Holding Corp appointed Carolyn E. Taylor to its Board of Directors, effective as of July 16, 2021.
TNXP Inauguration to Russell 2000® and Russell 3000® Indexes
TNXP stock was added to the broad-market Russell 3000® index and the small-cap Russell 2000® Index, effective after the U.S. market opened on June 28, 2021, as part of the annual reconstitution of the Russell stock indexes.
Treatment for Long COVID Syndrome
On June 21, 2021, Tonix Pharmaceuticals Holding Corp (TNXP) announced its plans to develop TNX-102 SL (cyclobenzaprine HCl sublingual tablets) as a potential treatment for Long COVID Syndrome (Long COVID) which is now known officially as Post-Acute Sequelae of COVID-19 (PASC).
Tonix plans to meet with the U.S. Food and Drug Administration (FDA) in the third quarter of 2021 to seek agreement on the design of a potential Phase 2 pivotal study and the overall clinical development plan to qualify TNX-102 SL as an indicated treatment for Long COVID.
Participation in the conferences
Tonix (TNXP) recently participated in the BIO Digital Conference which was held on June 10-11 and 14-18, 2021. The company was presented by Seth Lederman, M.D., President and Chief Executive Officer of Tonix.
The company also participated in the Raymond James Human Health Innovation Conference which was held on June 23, 2021.
Conclusion
The company’s recent announcement about halting the enrolment in TNX-102 SL trials due to negative outcomes was the reason behind its significant loss on Friday. TNXP can continue to decline in the coming days as well.
In premarket trading session, Tonix Pharmaceuticals Holding Corp. (TNXP) stock had surged by 2.46% to $1.25 at last check. TNXP stock previously closed the session at $1.22 on Friday. The stock volume traded 5.76 million shares. In the past year up to date TNXP stock have risen by 93.01% however in the past week they shed by -8.27%. In the past three and six months, the TNXP stock had plunged -15.86%, while adding 109.44% respectively. Furthermore, Tonix Pharmaceutical is currently valued in the market at $401.70 million and has 326.51 million outstanding shares.
Here’s what you need to know about TNXP stock
Tonix Pharmaceutical Holding Corp, is a clinical stage biopharma company that specifically focuses on the treatments and prevention of human diseases along with the alleviation of the pain and wounds. TNXP stock does this through developing and licensing small molecules and biologics for prevention of infectious diseases. Furthermore, the company addresses a certain immunosuppression which can aggravate the immune fight response of the body, autoimmune diseases and cancer. Furthermore, the company focuses on the treatment of pain, neurologic, psychiatric and addiction conditions through its proprietary design and manufacturing of leading candidates.
Currently the company’s lead vaccine candidate is TNX-1800 which is a live replicating version of vaccine that instills the horsepox viral vector as a platform to protect against the COVID-19. Furthermore the company has other vaccine candidates that also replicate the same horsepox live vaccine virus to serve as a vector platform and prevent against monkeypox, smallpox and COVID-19 prevention. Its items incorporate TNX-1300 for the treatment of cocaine inebriation; TNX-601 CR for despondency problem, PTSD, and neurocognitive brokenness from corticosteroids; and TNX-1900 for headache and craniofacial torment treatment. Its preclinical pipeline incorporates TNX-1600 for PTSD, despondency, and consideration shortfall hyperactivity issue; TNX-1700 for gastric and pancreatic malignant growths; TNX-701 for radioprotection; TNX-1200, a smallpox immunization; TNX-1500, a monoclonal counter acting agent against CD40-L for organ relocate dismissal autoimmunity; and TNX-2900, an intranasal potentiated oxytocin for the treatment of Prader-Willi disorder. It additionally creates TNX-2100, a COVID-19 skin test. It has cooperation concurrences with Southern Research Institute and the University of Alberta; and Massachusetts General Hospital. The organization was fused in 2007 and is settled in Chatham, New Jersey.
The long term potential of TNX-102 as COVID treatment
TNXP stock had announced today that it is aiming to develop the TNX-102 SL for potential treatment of long Covid Syndrome. This condition is officially known as Post-Acute Sequelae of Covid-19 (PASC). The CNS candidate is also for the treatment of aggravated Alzheimer disease, PTSD, and alcohol disorder, known as TNX-102 SL which is formulation of cuclobenzaprine in sublingual tablets for the treatment of fibromyalgia as well.
In the third quarter of 2021, there will be meeting with the U.S Food and Drug Administration for the potential design of the Phase 2 study of TNX-102 SL which will be pivotal for the overall clinical development of the CNS candidate for its further indicated use as Long COVID treatment.TonixPharamceuticals Holding Corp. found out about the pharmacodynamic movement of TNX-102 SL from more than 1,000 members who have been or are taken on its fibromyalgia preliminaries to date. Long COVID has been contrasted with fibromyalgia as a result of the normal indications of rest unsettling influence, diligent torment, weariness, and cerebrum haze.
TNX-102 SL is in mid-Phase 3 advancement for the treatment of fibromyalgia, for which between time examination aftereffects of the second potential significant investigation are expected in the second from last quarter of 2021, and topline results are in the principal quarter of 2022.
Tonix Pharmaceuticals Inc. (NASDAQ: TNXP) stock declined by 8.67% in the last trading close, whereas the TNXP stock price rises by 6.57% during pre-market after TNXP announced that Tonix Pharmaceutical has been issued with patent No 10,946,027 by the U.S Patent and Trademark Office on 16 March 2021. A clinical-stage pharmaceutical company, Tonix focuses on making, acquiring, and licensing small molecules and biologics for the treatment and prevention of human disease and to reduce suffering.
Major achievements of TNXP
Being issued with a Patent number is definitely a huge achievement for Tonix Pharmaceuticals. Currently Tonix oxalate is the most used pharmaceutical ingredient of Tonix’s development candidate such as TNX-601 CR (tianeptine oxalate and naloxone controlled-release tablet) which is the novel oral formation of one of the most recognized tianeptine oxalate salts. This helps to treat major depressive disorder (MDD), posttraumatic stress disorder and any neurocognitive dysfunction that is linked with corticosteroid use.
Also Tianeptine sodium (amorphous) immediate release (IR) is used for the treatment of depression for over three decades in Europe which was first advertised in France back in 1989. It has also been marketed in many other countries of Asia and Latin America but in USA no tianeptine containing product has been accepted by FDA for use.
The latest patent, that is “Tianeptine Oxalate Salts and Polymorphs,” contains pharmaceutical compositions containing crystalline tianeptine oxalate salts, as well as methods for using such compositions to treat various diseases and methods for producing the oxalate salts. It is to be expected that this patent will provide TNXP with U.S market exclusivity until December 28, 2037, but not including and patent term extensions.
Conclusion
This positive development in Tonix Pharmaceuticals will open new and better opportunities for them to work in this field whereas it will help investors to develop their trust in TNXP shares.
Tonix has licensed technology from the French National Institute of Health and Medical Research (Inserm).
Shares of Tonix Pharmaceuticals (TNXP) have since the start of February 2021. On Monday, the shares soared over 22% following the announcement to develop a COVID-19 skin test. Once again, the stock is rolling, but this time with another important achievement. The company just announced that it has obtained a license from the French National Institute of Health and Medical Research to treat patients with Willi Syndrome.
Another reason why investors might be enthused is Tonix’s treatment for agitation in Alzheimer’s disease. So, there has been a lot happening and the drugmaker has a big upside with all the substantial projects on-hand.
What’s Next?
Tonix Pharmaceuticals (TNXP) stock has skyrocketed up to 16.26% to $1.89, as we write this. The penny stock has been trading above $1 one on consistently during this month, followed by several developments happening around.
The company has obtained the green signal to begin work on the treatment of Prader-Willi syndrome, which constantly causes hunger and leads to severe obesity resulting in various health issues.
The co-exclusive license will allow the company to design its program more broadly, with the product being designated as TNX-2900. The patents covering the feature technology for Willi syndrome is available for the company across the US and Europe via the co-licensees till 2031. Tonix plans to get in contact with the FDA for submitting an application for TNX-2900 for Fast Track designation and Orphan Drug.
Another major project that the company is currently working on it’s the diagnostic skin test for testing the COVID-19 virus. Tonix intends to initiate the development of the skin test, called TNX-2100 that will measure T-cell immunity to SARS-CoV-2. According to the researchers, T-cell immunity is an important factor that could help in protecting from severe variants of the coronavirus.
Furthermore, the company is also working on its lead product for Alzheimer’s Disease. Tonix has filed the patent for its TNX-102 SL. If the company obtains the patent it will begin working on the product, which would be a big achievement for the company—taking it one step close to Alzheimer’s Disease solution. Millions of Americans suffer from this disease each year and yet, we do not have any FDA-approved drug for Alzheimer’s.
Above all, the company closed its registered direct offering worth $70 million. Tonix sold more than 53 million common stock shares at $1.20 per share to generate the gross proceeds. The company will use the funding to finance TNX-2100 and other clinical projects.
Conclusion
Tonix Pharmaceuticals (TNXP) has been on the higher side in the past couple of weeks. TNXP’s shares price would ride back to its normal once the near-term upside is achieved. However, the clinical projects under development are real assets for the company that could be a blockbuster in the long-term.
