Tonix Pharmaceuticals Closes $4M Public Offering - June 28, 2024

Tonix Pharmaceuticals Holding Corp., a fully-integrated biopharmaceutical company, announced the completion of its public offering of common stock and pre-funded warrants. The Company issued 2,833,900 shares of common stock and pre-funded warrants for the purchase of up to 4,228,158 shares of common stock at an offering price of $0.57 per share and $0.569 per pre-funded warrant. The warrants, which have an exercise price of $0.001 per share, became exercisable upon issuance.

The gross proceeds from this offering totaled approximately $4.0 million, before the deduction of placement agent fees and other related expenses. Tonix intends to allocate the net proceeds from this offering toward working capital and general corporate purposes. These include the preparation of a new drug application (NDA) for their innovative product candidate, Tonmya™, which is aimed at managing fibromyalgia, as well as paying off portions of existing debt.

Dawson James Securities, Inc. served as the sole placement agent for this offering. Legal representation for Tonix was provided by Lowenstein Sandler in New York, NY, while ArentFox Schiff LLP in Washington, DC represented the placement agent.

This offering was executed under an effective shelf registration statement on Form S-3 that had been previously filed with the U.S. Securities and Exchange Commission (SEC). The offering was conducted only through a prospectus supplement and the accompanying prospectus, both of which were filed with the SEC and are publicly accessible on the SEC’s website.

Tonix Pharmaceuticals is deeply invested in the development, licensing, and commercialization of therapies aimed at treating and preventing human diseases, with a particular focus on central nervous system (CNS) disorders. The company's top priority for the latter half of 2024 is to submit an NDA to the FDA for Tonmya™, following the completion of two statistically significant Phase 3 studies tailored for fibromyalgia management.

Another notable product in Tonix's CNS portfolio is TNX-102 SL, which is being developed for the treatment of acute stress reactions and fibromyalgia-type Long COVID. Additionally, TNX-1300, a biologic designed to treat cocaine intoxication, has been granted Breakthrough Therapy designation.

Beyond CNS disorders, Tonix’s immunology portfolio includes biologics for organ transplant rejection, autoimmunity, and cancer. Among these is TNX-1500, a humanized monoclonal antibody targeting CD40-ligand (CD40L or CD154), currently in development for preventing allograft rejection and treating autoimmune diseases.

Tonix also has considerable investment in developing treatments for rare and infectious diseases. Additionally, their commercial subsidiary, Tonix Medicines, markets Zembrace® SymTouch® (sumatriptan injection) and Tosymra® (sumatriptan nasal spray) for treating acute migraines with or without aura in adults.

In conclusion, Tonix Pharmaceuticals continues to advance its diverse portfolio of therapeutic candidates aimed at addressing significant unmet medical needs. Their focus remains on the rigorous development and potential commercialization of innovative treatments that have a profound impact on patient care and quality of life.

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