Tonix Pharma (TNXP) AI Stock Analysis

• Market Cap: $193.37M
• Dividend Yield: N/A
• Average Volume (3M): 875.44K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.42
• Revenue Growth: -2.04%
• EPS Growth: -478.87%
• Country: US
• Employees: 81
• Sector: Healthcare
• Sector Strength: 42
• Industry: Biotechnology
• EPS (TTM): -2.84
• Shares Outstanding: 7,324,670
• 10 Day Avg. Volume: 1,445,126
• 30 Day Avg. Volume: 875,442
• PEG Ratio: <0.01
• Price to Book (P/B): <0.01
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -2.12
• Enterprise Value/Market Cap: 0.19
• Enterprise Value/Revenue: 0.82
• Enterprise Value/Gross Profit: 15.47
• Enterprise Value/Ebitda: -0.10
• 1Y Price Target: $70.00
• Price Target Upside: 141.96% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1

• Rating: 50 Neutral
• Price Target: ―

Tonix Pharma's stock score reflects a company in its growth phase with substantial revenue increases and strategic advancements in product development. However, significant challenges remain in profitability and cash flow sustainability, necessitating ongoing external funding. Positive corporate events provide some optimism, yet weak technical indicators and valuation concerns cap the overall score.

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 includes immunology, rare disease, infectious disease, and central nervous system (CNS) product candidates. The company's immunology portfolio includes biologics to address organ transplant rejection, autoimmunity, and cancer, including TNX-1500, a humanized monoclonal antibody targeting CD40-ligand being developed for the prevention of allograft and xenograft rejection and for the treatment of autoimmune diseases. Its rare disease portfolio comprises TNX-2900 for the treatment of Prader-Willi syndrome. The company's infectious disease pipeline includes TNX-801, a vaccine to prevent smallpox and monkeypox; TNX-1840 and TNX-1850 that are live virus vaccines based on its recombinant pox vaccine (RPV) platform for COVID-19; TNX-3500, a small molecule antiviral drug to treat acute COVID-19; and TNX-102 SL, a small molecule drug to treat Long COVID, a chronic post-acute COVID-19 condition. Its CNS portfolio includes small molecules and biologics to treat pain, neurologic, psychiatric, and addiction conditions, including TNX-102 SL, which is in mid-Phase 3 development for the management of fibromyalgia; TNX-1900 that is in development for the prevention of migraine headache; and TNX-1300, a biologic designed to treat cocaine intoxication. The company was founded in 2007 and is headquartered in Chatham, New Jersey.

How the Company Makes Money

Tonix Pharmaceuticals generates revenue primarily through the development and commercialization of its pharmaceutical products. As a clinical-stage company, its main revenue streams are expected to come from upfront payments, milestone payments, and royalties from partnerships or licensing agreements with larger pharmaceutical companies. These collaborations are crucial as they provide the financial resources and market access needed to advance the development and commercialization of its drug candidates. Additionally, Tonix may receive grant funding or government support for research and development efforts, particularly for projects in the public health domain, such as their COVID-19 vaccine and therapeutic programs. However, as of now, the company does not have any products approved for sale, and its revenue generation is contingent upon the successful development and commercialization of its pipeline candidates.

Tonix Pharma Financial Statement Overview

Summary

Tonix Pharma is in a growth phase with significant revenue gains but faces profitability challenges. The balance sheet is strong with low debt, yet cash flow issues persist due to negative free cash flow and reliance on external funding.

Income Statement

Tonix Pharma has shown substantial revenue growth from prior years, with total revenue increasing significantly from $0 to $10.09 million in 2024. However, profitability remains a challenge as indicated by negative EBIT and EBITDA margins. The net profit margin is nonexistent due to zero net income, suggesting the company is still in a heavy investment phase, typical for the biotechnology industry.

Balance Sheet

The company's balance sheet shows a healthy equity base with a debt-to-equity ratio of approximately 0.06, indicating low financial leverage. The equity ratio is strong at 85.7%, reflecting a robust capital structure. However, consistent net losses over the years suggest potential pressures on financial sustainability if cash reserves dwindle without profitability improvements.

Cash Flow

Cash flow analysis reveals a negative free cash flow, though the company has improved its operating cash flow situation compared to previous years. The significant financing cash flow indicates reliance on external funding to support operations. The cash flow to net income ratios are not meaningful due to the lack of net income.

Breakdown
Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement		Total Revenue
10.09M	7.77M	0.00	0.00	0.00
	Gross Profit
2.33M	3.03M	-112.09M	-92.31M	-50.51M
	EBIT
-136.70M	-118.38M	-112.09M	-92.31M	-50.51M
	EBITDA
-71.73M	-114.09M	-110.84M	-92.26M	-50.48M
	Net Income Common Stockholders
-130.04M	-116.66M	-116.88M	-92.29M	-52.17M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
98.78M	24.95M	120.23M	178.66M	77.07M
	Total Assets
162.89M	154.46M	225.69M	240.90M	98.18M
	Total Debt
8.12M	9.81M	760.00K	956.00K	1.31M
	Net Debt
-90.66M	-15.13M	-119.47M	-177.70M	-75.76M
	Total Liabilities
23.33M	48.93M	18.51M	22.18M	10.54M
	Stockholders Equity
139.56M	105.53M	207.18M	218.72M	87.65M
Cash Flow		Free Cash Flow
-61.05M	-109.90M	-146.20M	-110.86M	-57.13M
	Operating Cash Flow
-60.92M	-102.00M	-98.05M	-75.56M	-48.57M
	Investing Cash Flow
-120.00K	-29.07M	-48.15M	-35.31M	-8.56M
	Financing Cash Flow
134.87M	36.52M	87.84M	212.49M	123.11M

Tonix Pharma Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 28.93
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TNXP, the sentiment is Positive. The current price of 28.93 is above the 20-day moving average (MA) of 21.93, above the 50-day MA of 20.12, and above the 200-day MA of 21.54, indicating a bullish trend. The MACD of 2.77 indicates Negative momentum. The RSI at 67.24 is Neutral, neither overbought nor oversold. The STOCH value of 66.01 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TNXP.

Tonix Pharma Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	53 Neutral	$5.14B	3.03	-43.89%	2.83%	16.75%	-0.06%
CHRS	52 Neutral	$89.86M	5.55	0.51%	―	-34.58%	-62.19%
CLLS	52 Neutral	$108.78M	―	-58.55%	―	825.97%	38.32%
EDIT	51 Neutral	$135.61M	―	-140.82%	―	-48.37%	-44.70%
TNXP	50 Neutral	$193.37M	―	-91.44%	―	-2.04%	-478.87%
NKTR	46 Neutral	$122.83M	―	-189.46%	―	-3.24%	31.00%
TIL	34 Underperform	$137.89M	―	-44.50%	―	―	52.54%

Tonix Pharma Corporate Events

Tonix Pharma Begins Phase 2 OASIS Trial

On May 21, 2025, Tonix Pharma announced the dosing of the first patient in the Phase 2 OASIS trial, which aims to evaluate the TNX-102 SL product candidate for reducing acute stress reaction and disorder. Sponsored by the University of North Carolina Institute for Trauma Recovery and supported by a $3 million grant from the U.S. Department of Defense, the trial will involve approximately 180 motor vehicle collision trauma survivors in the U.S., assessing the safety and efficacy of TNX-102 SL compared to a placebo.

The most recent analyst rating on (TNXP) stock is a Buy with a $4.00 price target. To see the full list of analyst forecasts on Tonix Pharma stock, see the TNXP Stock Forecast page.

Tonix Pharma Appoints New General Counsel and EVP

On May 14, 2025, Tonix Pharmaceuticals announced the appointment of Joseph Hand as General Counsel and Executive Vice President of Operations, effective immediately. This strategic leadership change is expected to impact the company’s operations and potentially strengthen its industry positioning.

The most recent analyst rating on (TNXP) stock is a Buy with a $4.00 price target. To see the full list of analyst forecasts on Tonix Pharma stock, see the TNXP Stock Forecast page.

Tonix Pharma Approves Key Proposals at Shareholder Meeting

On May 8, 2025, Tonix Pharma held its annual shareholder meeting where seven proposals were approved. Key decisions included the election of eight board members, ratification of EisnerAmper LLP as the accounting firm, and authorization for potential reverse stock splits. Additionally, shareholders approved amendments to the stock incentive plan, the 2025 Employee Stock Purchase Plan, and executive compensation, with a decision to hold executive compensation votes every three years.

Tonix Pharma Unveils Promising Cancer Treatment Data

On April 28, 2025, Tonix Pharmaceuticals presented promising data at the AACR Annual Meeting, demonstrating that their fusion protein mTFF2-MSA, combined with an anti-PD1 antibody, effectively activates cancer-killing CD8+ T Cells and reduces immunosuppression in tumor microenvironments in animal models. This development highlights Tonix’s potential impact in cancer treatment, particularly with their TNX-1700 candidate, which is in preclinical stages for gastric and colorectal cancers.

Tonix Pharma Presents Promising Vaccine Data at Congress

On April 23, 2025, Tonix Pharmaceuticals presented promising preclinical data at the World Vaccine Congress in Washington. Their TNX-801 vaccine candidate showed efficacy in protecting animals against mpox and rabbitpox, including in immunocompromised subjects, indicating potential for future development and market opportunities.

Tonix Pharma’s TNX-102 SL Advances in FDA Process

On March 24, 2025, Tonix Pharmaceuticals announced that the FDA will not require an Advisory Committee meeting for the New Drug Application of TNX-102 SL, a product candidate for fibromyalgia management. This development could streamline the approval process, potentially accelerating the product’s market entry and impacting the company’s operations and market positioning positively.

Tonix Pharma Secures Grant for TNX-801 Vaccine Development

On March 10, 2025, Tonix Pharmaceuticals announced receiving a $50,000 grant from the Medical CBRN Defense Consortium to support the development of its TNX-801 vaccine candidate for mpox and smallpox. The grant will aid in creating a commercialization plan for TNX-801, which has shown promising results, including being significantly less virulent than traditional smallpox vaccines and providing durable protection in animal models.

Tonix Pharma Appoints New Chief Technical Officer

On February 27, 2025, Tonix Pharma Limited, a subsidiary of Tonix Pharmaceuticals Holding Corp., signed an employment agreement with Siobhan Fogarty, the Chief Technical Officer. The agreement includes an annual salary, bonus eligibility, and equity compensation, with a 180-day notice period for termination, reflecting standard industry practices.

Tonix Pharma Highlights Fibromyalgia Treatment Success at Congress

On March 3, 2025, Tonix Pharmaceuticals presented data at the 7th International Congress on Controversies in Fibromyalgia, highlighting the effectiveness of their transmucosal sublingual cyclobenzaprine (TNX-102 SL) in reducing pain associated with fibromyalgia through improved non-restorative sleep. This presentation underscores Tonix’s commitment to addressing fibromyalgia and strengthens its position in the pharmaceutical industry by showcasing successful results from two Phase 3 studies.