Tonix Pharmaceuticals falls after company announces proposed public offering

Tonix Pharmaceuticals Holding

08/07/2024 22:42

** Shares of biopharma firm Tonix Pharmaceuticals  TNXP.O 
fall 15.9% to $0.599 in after-hours trading 
    ** Company says it's planning a public offering of its
common shares but didn't offer details on the size and pricing
of the offering
    ** TNXP intends to use the net proceeds from the offering
for working capital and general corporate purposes
    ** There can be no assurance as to whether or when the
offering may be completed, or as to the actual size or terms of
the offering - Tonix
    ** TNXP shares on Monday closed at 71 cents
    ** Up to last close, stock had fallen 94% YTD

 (Reporting by Harshita Mary Varghese in Bengaluru)
 ((HarshitaMary.Varghese@thomsonreuters.com))