Tonix Pharmaceuticals Holding Corp. (TNXP) is a leading global biotherapeutics company focused on the development of therapeutics for different unmet medical conditions. The company’s leading product portfolio includes TNX-1800 used as a COVID-19 vaccine. TNX-3500 and TNX-102 SL are also under the clinical trial stage for the treatment of COVID-19. TNX-102 SL is in Phase 3 clinical trial for treating fibromyalgia and TNX-1300 for cocaine intoxication.
The price of TNXP stock during regular trading on March 3, 2022, was $0.25 with a surge of 33.07%. At last check in the premarket on March 4, 2022, its price plunged by 7.98%.
TNXP: Events and Happenings
On March 03, 2022, TNXP reported the grant of Orphan-Drug Designation by the FDA to TNX-2900 used in treating Prader-Willi syndrome. On February 28, 2022, TNXP updated on its entry into a research contract with Inserm Transfert. Both the companies agreed upon studying oxytocin levels in the mouse model for Prader-Willi syndrome.
On February 07, 2022, TNXP announced its Executive management’s participation at the Virtual BIO CEO & Investor Conference held on February 14-17, 2022. On January 11, 2022, TNXP informed the press about the initial patient enrollment in dose-finding trials for TNX-2100. It is used to measure delayed-type hypersensitivity to SARS-CoV-2.
On January 05, 2022, TNXP updated on its management’s presentation at the following conferences.
- Virtual H.C. Wainwright BioConnect Conference held on January 10-13, 2022, and
- The Biotech Virtual Showcase 2022 was held on January 10-12 & 17-19, 2022.
TNXP: Key Financials
On November 8, 2021, TNXP released its unaudited financial outcomes for the third quarter ended September 30, 2021. Some of the main features are discussed here.
Revenue
No revenue was recorded in the third quarter of 2021 as in the same quarter of 2020.
EPS
Net loss per basic and diluted share in the third quarter of 2021 was $18.5 million or $0.05 comparable to $11.9 million or $0.09 in the same quarter of 2020. The company’s EPS topped the analysts’ estimates by $0.02.
Conclusion
TNXP stock is 73% low from the past year as a result of the pandemic. Currently, the company is working tirelessly to prove itself as a leading biotech company as its stock swelled in Thursday’s regular trading after it announced ODD to its lead candidate by the FDA. In Friday’s premarket session, the company’s stock declined gradually to shed its yesterday’s gain. The fourth-quarter earnings release date is also approaching and the company expects an EPS of -$0.06.