Tonix Pharmaceuticals Announces Closing of $4.0 Million Public Offering
13 Junho 2024 - 6:00PM
Tonix Pharmaceuticals Holding Corp. (Nasdaq: TNXP) (“Tonix” or the
“Company”), a fully-integrated biopharmaceutical company, today
announced the closing of its public offering of 1,199,448 shares of
its common stock and pre-funded warrants to purchase up to
2,568,110 shares of common stock in a public offering at an
offering price of $1.065 per share of common stock and $1.064
pre-funded warrant. The warrants have an exercise price of $0.001
per share and became exercisable upon issuance.
The gross proceeds of the offering are $4.0
million before deducting placement agent fees and other estimated
offering expenses payable by the Company. The Company intends to
use the net proceeds from the offering for working capital and
general corporate purposes, including the preparation of the new
drug application relating to its Tonmya™ product candidate in
patients with fibromyalgia, and the satisfaction of any portion of
its existing indebtedness.
Dawson James Securities, Inc. acted as the sole
placement agent for the offering.
Lowenstein Sandler, New York, NY, represented
the Company in connection with the offering, and ArentFox Schiff
LLP, Washington, DC, represented the placement agent.
This offering was made pursuant to an effective
shelf registration statement on Form S-3 (File No. 333-266982)
previously filed with the U.S. Securities and Exchange Commission
(the “SEC”). The offering was made only by means of a prospectus
supplement and accompanying prospectus. A final prospectus
supplement and accompanying prospectus describing the terms of the
proposed offering were filed with the SEC and are available on the
SEC’s website located at http://www.sec.gov. Electronic copies of
the preliminary prospectus supplement may be obtained from Dawson
James Securities, Inc., 101 North Federal Highway, Suite 600, Boca
Raton, FL 33432 or by telephone at (561) 391-5555, or by email at
investmentbanking@dawsonjames.com.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy nor shall there be
any sale of these securities in any state or jurisdiction in which
such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
Tonix Pharmaceuticals Holding
Corp.*
Tonix is a fully-integrated biopharmaceutical
company focused on developing, licensing and commercializing
therapeutics to treat and prevent human disease and alleviate
suffering. Tonix’s development portfolio is focused on central
nervous system (CNS) disorders. Tonix’s priority is to submit a New
Drug Application (NDA) to the FDA in the second half of 2024 for
Tonmya1, a product candidate for which two statistically
significant Phase 3 studies have been completed for the management
of fibromyalgia. TNX-102 SL is also being developed to treat acute
stress reaction as well as fibromyalgia-type Long COVID. Tonix’s
CNS portfolio includes TNX-1300 (cocaine esterase), a biologic
designed to treat cocaine intoxication that has Breakthrough
Therapy designation. Tonix’s immunology development portfolio
consists of biologics to address organ transplant rejection,
autoimmunity and cancer, including TNX-1500, which is a humanized
monoclonal antibody targeting CD40-ligand (CD40L or CD154) being
developed for the prevention of allograft rejection and for the
treatment of autoimmune diseases. Tonix also has product candidates
in development in the areas of rare disease and infectious disease.
Tonix Medicines, our commercial subsidiary, markets Zembrace®
SymTouch® (sumatriptan injection) 3 mg and Tosymra® (sumatriptan
nasal spray) 10 mg for the treatment of acute migraine with or
without aura in adults.
*Tonix’s product development candidates are
investigational new drugs or biologics and have not been approved
for any indication.
1Tonmya™ is conditionally accepted by the U.S.
Food and Drug Administration (FDA) as the tradename for TNX-102 SL
for the management of fibromyalgia. Tonmya has not been approved
for any indication.
Zembrace SymTouch and Tosymra are registered
trademarks of Tonix Medicines. All other marks are property of
their respective owners.
This press release and further information about
Tonix can be found at www.tonixpharma.com.
Forward Looking Statements
Certain statements in this press release are
forward-looking within the meaning of the Private Securities
Litigation Reform Act of 1995 including those relating to the
intended use of proceeds from the public offering and other
statements that are predictive in nature. These statements may be
identified by the use of forward-looking words such as
“anticipate,” “believe,” “forecast,” “estimate,” “expect,” and
“intend,” among others. These forward-looking statements are based
on Tonix's current expectations and actual results could differ
materially. There are a number of factors that could cause actual
events to differ materially from those indicated by such
forward-looking statements. These factors include, but are not
limited to, risks related to the failure to obtain FDA clearances
or approvals and noncompliance with FDA regulations; risks related
to the failure to successfully market any of our products; risks
related to the timing and progress of clinical development of our
product candidates; our need for additional financing;
uncertainties of patent protection and litigation; uncertainties of
government or third party payor reimbursement; limited research and
development efforts and dependence upon third parties; and
substantial competition. As with any pharmaceutical under
development, there are significant risks in the development,
regulatory approval and commercialization of new products. Tonix
does not undertake an obligation to update or revise any
forward-looking statement. Investors should read the risk factors
set forth in the Annual Report on Form 10-K for the year ended
December 31, 2023, as filed with the Securities and Exchange
Commission (the “SEC”) on April 1, 2024, and periodic reports filed
with the SEC on or after the date thereof. All of Tonix's
forward-looking statements are expressly qualified by all such risk
factors and other cautionary statements. The information set forth
herein speaks only as of the date thereof.
Investor ContactJessica
MorrisTonix Pharmaceuticalsinvestor.relations@tonixpharma.com(862)
904-8182
Peter VozzoICR Westwickepeter.vozzo@westwicke.com(443)
213-0505
Media ContactKatie
DodgeLaVoieHealthSciencekdodge@lavoiehealthscience.com(978)
360-3151
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