Why is Tonix Pharmaceuticals Holding Corp. (TNXP) stock gloomy today?

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Shares of the Tonix Pharmaceuticals Holding Corp. (TNXP) stock were declining in the current market trading session today on January 21, 2022. TNXP stock price saw a decline of 8.20% to drop at $0.23 a share at the time of this writing. The stock was also gloomy in the previous trading session and went down by 6.49% at closing. Let’s take a closer look at this stock

Tonix Pharmaceuticals Holding Corp is a healthcare company that is discovering and developing small molecules to prevent human diseases and alleviate suffering. TNXP stock has a market cap of $125.15 million and a 16,509,559 average trading volume.

What’s Happening?

TNXP stock has lost the attention of investors in the stock market after rising for a certain time period today. The sentiment about this stock is not positive, causing the decline in the per-share price in the current market.

The positive fact about the company is that it is developing TNX-1800, which has shown a great immune response against SARS-CoV-2. The rapidly spreading Omicron is making headlines in the whole world despite the rollout of many vaccines. The nature of the Omicron is very much different from the previous mutations of Covid-19. The vaccines in the market are efficient in neutralizing the antibodies but do not generate a robust T-cell response. The company TNX-1800 is based on its horsepox vector platform. Orthopoxviruses show strong innate and adaptive immune responses along with long-lasting T cell immunity.

Recent news of TNXP stock

On January 11, 2022, the company announced that it has enrolled the first participant in the dose-finding study for TNX-2100. It is an in vivo skin test that measures the delayed-type hypersensitivity (DTH) to SARS-CoV-2.  The company is measuring functional T cell immunity via DTH. The management thinks that the TNX-2100 skin test has the potential to meet the needs of the rapid, sensitive, and specific test associated with SARS-CoV-2.

Financial View of TNXP stock

In the third quarter of 2021, the company spent $13.1 million in research and development expenses. These expenses were $8.8 million in the same tenure of the previous year. The company spent $5.5 million in general and administrative expenses in the third quarter of 2021, higher than the previous year’s G&A expenses. Net loss of the common stockholders of TNXP stock was $18.5 million, or $0.05 per share, basic and diluted in Q3,2021. The company ended the quarter with $183.0 million in cash and cash equivalents.

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