Tonix Pharmaceuticals (TNXP)
NASDAQ:TNXP
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Tonix Pharma
(NASDAQ:TNXP)
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Rating:48Neutral
Price Target:
$12.50
▼(-17.11% Downside)
Action:Reiterated
Date:05/15/26
The score is held down primarily by very weak profitability and significant cash burn despite improving revenue and gross margin, implying continued reliance on external funding. Technicals are mixed with only modest near-term momentum, while valuation is constrained by losses and no dividend. Corporate updates are a relative positive due to payer coverage expansion and pipeline progress, but reverse-split authorization adds risk.
Positive Factors
Payer Coverage Expansion
Meaningful expansion of TONMYA reimbursement materially improves durable patient access and prescription potential. Broad commercial plus Medicaid coverage reduces a key commercialization barrier, supporting sustained prescription volumes and revenue visibility as adoption grows over multiple quarters.
Negative Factors
Heavy Operating Cash Burn
Sustained large negative operating and free cash flows create an ongoing need for external capital. Persistent burn constrains strategic flexibility, increases dilution risk from financings, and may force trade-offs between R&D, commercialization investment, and working capital over the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Payer Coverage Expansion
Meaningful expansion of TONMYA reimbursement materially improves durable patient access and prescription potential. Broad commercial plus Medicaid coverage reduces a key commercialization barrier, supporting sustained prescription volumes and revenue visibility as adoption grows over multiple quarters.
Read all positive factors
Tonix Pharma (TNXP) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$203.56M
Dividend YieldN/A
Average Volume (3M)422.60K
Price to Earnings (P/E)―
Beta (1Y)1.45
Revenue Growth74.84%
EPS Growth99.51%
CountryUS
Employees81
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-14.66
Shares Outstanding15,940,801
10 Day Avg. Volume440,060
30 Day Avg. Volume422,596
Financial Highlights & Ratios
PEG Ratio0.01
Price to Book (P/B)0.54
Price to Sales (P/S)10.14
P/FCF Ratio-1.29
Enterprise Value/Market Cap0.10
Enterprise Value/Revenue1.10
Enterprise Value/Gross Profit2.10
Enterprise Value/Ebitda-0.13
Forecast
1Y Price Target
$41.33Price Target Upside174.09% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
EPS Forecast (FY)-9.93
Revenue Forecast (FY)$30.05M
Tonix Pharma Business Overview & Revenue Model
Company Description
Tonix Pharmaceuticals Holding Corp., a clinical-stage biopharmaceutical company, focuses on discovering, acquiring, developing, and licensing therapeutics and diagnostics to treat and prevent human disease and alleviate suffering. Its portfolio in...
How the Company Makes Money
Tonix primarily seeks to generate future revenue by advancing internally developed or in-licensed product candidates through clinical development toward regulatory approval and commercialization. Until it has approved products, its revenue model t...
Tonix Pharma Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
63
Positive
Cash Flow
22
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Mar 2024 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 17.56M | 13.11M | 10.09M | 7.77M | 0.00 | 0.00 |
| Gross Profit | 9.24M | 4.54M | 2.33M | 3.03M | 0.00 | 0.00 |
| EBITDA | -148.14M | -123.78M | -74.32M | -114.09M | -110.84M | -92.26M |
| Net Income | -147.39M | -124.02M | -130.04M | -116.66M | -110.22M | -92.29M |
Balance Sheet | ||||||
| Total Assets | 257.91M | 277.17M | 162.89M | 154.46M | 225.69M | 240.90M |
| Cash, Cash Equivalents and Short-Term Investments | 185.47M | 207.64M | 98.78M | 24.95M | 120.23M | 178.66M |
| Total Debt | 1.29M | 1.31M | 5.30M | 9.81M | 760.00K | 956.00K |
| Total Liabilities | 30.77M | 32.02M | 23.33M | 48.93M | 18.51M | 22.18M |
| Stockholders Equity | 227.14M | 245.15M | 139.56M | 105.53M | 207.18M | 218.72M |
Cash Flow | ||||||
| Free Cash Flow | -132.65M | -103.21M | -61.05M | -109.90M | -146.20M | -110.86M |
| Operating Cash Flow | -125.58M | -99.84M | -60.92M | -102.00M | -98.05M | -75.56M |
| Investing Cash Flow | -6.21M | -4.53M | -120.00K | -29.07M | -48.15M | -35.31M |
| Financing Cash Flow | 185.20M | 214.53M | 134.87M | 36.52M | 87.84M | 212.49M |
Tonix Pharma Technical Analysis
Negative
15.08
Price Trends
13.73
Negative
14.69
Negative
19.31
Negative
Market Momentum
-0.01
Positive
44.39
Neutral
19.08
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TNXP, the sentiment is Negative. The current price of 15.08 is above the 20-day moving average (MA) of 13.68, above the 50-day MA of 13.73, and below the 200-day MA of 19.31, indicating a bearish trend. The MACD of -0.01 indicates Positive momentum. The RSI at 44.39 is Neutral, neither overbought nor oversold. The STOCH value of 19.08 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TNXP.
Tonix Pharma Risk Analysis
Tonix Pharma disclosed 69 risk factors in its most recent earnings report. Tonix Pharma reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Tonix Pharma Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | $169.20M | 2.36 | 28.10% | ― | 27.80% | 268.45% | |
55 Neutral | $262.26M | -1.15 | -58.89% | ― | -52.64% | 26.97% | |
54 Neutral | $859.45M | -3.82 | -97.55% | ― | -86.62% | -1121.44% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
51 Neutral | $176.36M | -1.23 | 593.93% | ― | -77.09% | 6.91% | |
48 Neutral | $203.56M | -1.17 | -67.65% | ― | 74.84% | 99.51% | |
45 Neutral | $442.14M | -52.18 | -106.16% | ― | ― | 63.03% |
* Healthcare Sector Average
TNXP
Tonix Pharma
12.77
-24.22
-65.48%
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Tonix Pharma Corporate Events
Business Operations and StrategyProduct-Related Announcements
Tonix Pharma advances TNX-4800 Lyme vaccine program
Positive
May 15, 2026
On May 15, 2026, Tonix Pharmaceuticals presented pharmacokinetic data from a Phase 1 trial of its TNX-4800 Lyme disease vaccine candidate at the Global Lyme Alliance, focusing on simulations for a proposed two-dose 350 mg subcutaneous regimen. The...
Business Operations and StrategyExecutive/Board ChangesShareholder MeetingsStock Split
Tonix Pharma Shareholders Approve Reverse Split and Incentive Plan
Positive
May 8, 2026
Tonix Pharmaceuticals Holding Corp. held its annual meeting of shareholders on May 7, 2026, where investors representing 54.22% of outstanding common shares were present by proxy and re-elected nine directors to the board. Shareholders also ratifi...
Business Operations and StrategyProduct-Related Announcements
Tonix Pharma Expands TONMYA Coverage Across U.S. Payers
Positive
May 6, 2026
On May 6, 2026, Tonix Pharmaceuticals said it had entered into an agreement, effective May 1, 2026, with a group purchasing organization that extends coverage for its drug TONMYA to roughly 35 million commercially insured individuals in the U.S. u...
Regulatory Filings and Compliance
Tonix Pharma Announces Administrative Update to Regulatory Filing
Neutral
May 1, 2026
Tonix Pharma disclosed that certain financial or operational information referenced in one section of its regulatory filing has been formally incorporated by reference into another section. This procedural disclosure indicates an administrative al...
Business Operations and StrategyProduct-Related Announcements
Tonix Pharma Advances TNX-4800 Lyme Disease Prevention Program
Positive
Apr 29, 2026
On April 29, 2026, Tonix Pharmaceuticals announced program updates for its TNX-4800 candidate for Lyme disease prevention and presented Phase 1 data at the 4th Annual Ticks and Tickborne Diseases Symposium. The company reported pharmacokinetic res...
Business Operations and Strategy
Tonix Pharma Highlights Preclinical Progress in Oncology Pipeline
Positive
Apr 23, 2026
On April 23, 2026, Tonix Pharmaceuticals reported data presentations from the American Association for Cancer Research Annual Meeting 2026, held April 17-22, 2026, highlighting preclinical progress for its oncology pipeline. Collaborators from Col...
Business Operations and StrategyProduct-Related Announcements
Tonix Pharma Advances TNX-4800 Lyme Disease Prevention Program
Positive
Mar 31, 2026
On March 31, 2026, Tonix Pharmaceuticals announced program updates for TNX-4800, its monoclonal antibody candidate for protection against Lyme disease, highlighting that Phase 1 data were presented on March 30, 2026, at the World Vaccine Congress ...
Business Operations and StrategyProduct-Related Announcements
Tonix Pharma Begins Phase 1 Study of TNX-1900
Positive
Mar 26, 2026
On March 26, 2026, Tonix Pharmaceuticals announced that the first participant was dosed in a Phase 1 investigator-initiated study of TNX-1900, its intranasal potentiated oxytocin candidate. The trial will assess the drug’s effect on trigemin...
Business Operations and StrategyProduct-Related Announcements
Tonix Pharma Highlights Positive Phase 3 Fibromyalgia Data
Positive
Mar 10, 2026
On March 10, 2026, Tonix Pharmaceuticals reported new clinical data on TONMYA (cyclobenzaprine HCl sublingual tablets) from two oral presentations at the 8th International Congress on Controversies in Fibromyalgia. The first presentation detailed ...
Business Operations and StrategyDelistings and Listing Changes
Tonix Pharma Uplists to Nasdaq Global Select Market
Positive
Mar 3, 2026
On March 3, 2026, Tonix Pharmaceuticals announced that Nasdaq approved the transfer of its common stock listing from the Nasdaq Capital Market to the Nasdaq Global Select Market, with trading on the higher-tier market commencing the same day under...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.