Home Top Movers What is prompting this biotech stock (TNXP) higher in the pre-market session?

What is prompting this biotech stock (TNXP) higher in the pre-market session?

‎TONIX PHARMACEUTICALS HOLDINGS CORP. (NASDAQ: TNXP) is a clinical-stage biopharmaceutical company focused on the discovery, licensing, acquisition, and development of small molecules and biologics to treat and prevent diseases in humans and prevent suffering. TONIX PHARMACEUTICALS stock surged 26.49% to $1.170 in the pre-market session today.

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Company’s Pipeline 


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Tonix’s pipeline consists mainly of immunology and central nervous systems (C.N.S.) candidates. The C.N.S. portfolio includes small molecules and biologics to treat pain, neurologic, psychiatric, and addiction conditions. Tonix’s lead C.N.S. candidate, TNX-102 SL*, is nearing completion of Phase 3 development to treat fibromyalgia, with positive results reported in the recently completed Phase 3 trial.

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Recent Development

The company recently announced that it has entered into a securities purchase agreement with an institutional investor for the purchase and sale of 50,000,000 shares of TNXP common stock, par value $0.001 at an offering price of $0.80, at the market price under Nasdaq rules. It is estimated that gross proceeds before deducting fees and other estimated offering expenses will total $40 million. Under the required closing conditions, the registered direct offering is expected to conclude on or about January 13, 2021.

The offering will be handled solely by Alliance Global Partners / A.G.P.

These securities offered were previously registered with and declared effective by the Securities and Exchange Commission as Shelf Registration Statements on Form S-3 (File Numbers 333-224586 and 333-273610). Neither this press release nor any offer, solicitation, or sale of the securities is permitted in any state or jurisdiction where such offer, solicitation, or sale would violate the securities laws of such state or jurisdiction. The shares of Tonix common stock will be accompanied by a prospectus supplement filed by Tonix with the S.E.C.

Broader Spectrum 

How does biotech work? It’s essentially a company that uses living organisms (for instance, bacteria or enzymes) to manufacture drugs. Living organisms are what differentiate biotechs from pharmaceuticals, which develop drugs with chemicals.

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The analyst sees a lot of potential in biotech stocks. However, the clinical trials for these biotechs could fail, even if they do well with testing. The issue of money running out and companies needing to pay for clinical studies, complete regulatory filings, and bring new drugs to market are the significant risks associated with investing in biotech stocks.

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