Tonix Pharmaceuticals Holding Corp. (NASDAQ: TNXP) has entered into a securities purchase agreement with Point72 for a registered direct offering of 615,025 shares of common stock at $16.26 per share, or pre-funded warrants to purchase up to an aggregate of 615,025 shares at a purchase price of $16.259 per warrant. The offering is expected to generate gross proceeds of approximately $20.0 million before fees and expenses, with closing anticipated on or about Dec. 30, 2025, subject to customary closing conditions.
The net proceeds from this financing are intended to fund the commercialization of Tonix's marketed products, the development of the company's product pipeline, and general working capital and corporate purposes. TD Cowen is acting as sole placement agent for the offering, with A.G.P./Alliance Global Partners serving as financial advisor. Investors can access the latest news and updates relating to TNXP in the company's newsroom at https://ibn.fm/TNXP.
Tonix is a fully-integrated biotechnology company with both marketed products and a substantial development portfolio. The company markets FDA-approved TONMYA(TM), a first-in-class, non-opioid analgesic medicine for the treatment of fibromyalgia, a chronic pain condition affecting millions of adults. TONMYA represents the first new prescription medicine approved by the FDA for fibromyalgia in over 15 years and was investigated as TNX-102 SL. Additionally, Tonix markets two treatments for acute migraine in adults: Zembrace(R) SymTouch(R) (sumatriptan injection) and Tosymra(R) (sumatriptan nasal spray).
The company's development pipeline is focused on central nervous system disorders, immunology, immuno-oncology, rare disease, and infectious disease. TNX-102 SL is being developed to treat acute stress reaction and acute stress disorder under an Investigator-Initiated IND at the University of North Carolina in the OASIS study funded by the U.S. Department of Defense, and is also in development for major depressive disorder. Tonix's immunology portfolio includes TNX-1500, a Phase 2-ready Fc-modified humanized monoclonal antibody targeting CD40-ligand being developed for the prevention of allograft rejection and treatment of autoimmune diseases.
Tonix's rare disease portfolio features TNX-2900, intranasal oxytocin potentiated with magnesium, in development for Prader-Willi syndrome with a potential pivotal Phase 2 study expected to start in 2026. The infectious disease portfolio includes TNX-801, a vaccine in development for mpox and smallpox, and TNX-4800, a Phase 2-ready long-acting humanized monoclonal antibody for the seasonal prevention of Lyme disease. Additionally, TNX-4200 is a small molecule broad-spectrum antiviral agent targeting CD45 for which Tonix has a contract with the U.S. DoD's Defense Threat Reduction Agency for up to $34 million over five years, aimed at preventing or treating high lethality infections to improve medical readiness of military personnel in biological threat environments.
This $20 million capital infusion provides Tonix with financial resources to advance multiple clinical programs simultaneously, potentially accelerating development timelines for treatments addressing significant unmet medical needs. The funding supports continued commercialization efforts for TONMYA, which addresses a chronic pain condition affecting millions, while enabling progress across diverse therapeutic areas including CNS disorders, autoimmune conditions, rare diseases, and infectious threats. The company maintains a state-of-the-art infectious disease research facility in Frederick, Maryland, to support these development efforts.
