Tonix Pharmaceuticals ticks up after $20 million direct stock deal

Tonix Pharmaceuticals Holding

29/12/2025 13:22

** Drugmaker Tonix Pharmaceuticals' TNXP.O shares rise 0.9% to $16.40 premarket

** TNXP announces $20 million registered direct offering of common stock and pre-funded warrants to Steven Cohen's investment firm Point72

** Offering priced at $16.26 apiece, in line with stock's last close

** TD Cowen acted as sole placement agent for offering and A.G.P./Alliance Global Partners served as financial adviser

** Proceeds will be used to fund the commercialization of its marketed products, development of its product pipeline and other purposes

** TNXP has 11.8 million outstanding shares for $191.5 million market cap, per LSEG data

** Two brokerages covering the stock rate it "buy"; median PT $65 - data compiled by LSEG

** As of last close, TNXP stock down 50.7% YTD

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com;))