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Tonix Pharma
(NASDAQ:TNXP)
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Rating:47Neutral
Price Target:
$10.50
▲(6.28% Upside)
Action:Reiterated
Date:08/04/26
The score is held down primarily by weak financial fundamentals—large net losses and substantial negative free cash flow—despite improving revenue and gross margin and low leverage. Technicals also remain unfavorable with the stock below major moving averages and negative MACD. Offsetting factors include several positive corporate developments (payer coverage expansion and clinical/regulatory progress), but they do not fully mitigate the current cash-burn and trend risks.
Positive Factors
Payer coverage expansion
Securing Medicare Part D plus broad Medicaid and commercial GPO coverage materially expands TONMYA's addressable insured population. Durable payer access supports predictable prescription uptake, revenue scaling potential and commercial channel stability if clinical adoption continues, reducing launch risk.
Negative Factors
High cash burn
Persistent, large negative operating and free cash flows create elevated funding risk over the medium term. Continued burn forces reliance on external financing or dilutive transactions, which can constrain strategic flexibility and pressure long-term program funding if commercial revenues don't scale as anticipated.
Read all positive and negative factors
Positive Factors
Negative Factors
Payer coverage expansion
Securing Medicare Part D plus broad Medicaid and commercial GPO coverage materially expands TONMYA's addressable insured population. Durable payer access supports predictable prescription uptake, revenue scaling potential and commercial channel stability if clinical adoption continues, reducing launch risk.
Read all positive factors
Tonix Pharma (TNXP) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$159.57M
Dividend YieldN/A
Average Volume (3M)529.92K
Price to Earnings (P/E)―
Beta (1Y)1.58
Revenue Growth74.84%
EPS Growth99.51%
CountryUS
Employees142
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-14.66
Shares Outstanding15,940,801
10 Day Avg. Volume588,039
30 Day Avg. Volume529,918
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 Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price Target
$37.67Price Target Upside281.24% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
EPS Forecast (FY)-10.04
Revenue Forecast (FY)$34.19M
Tonix Pharma Business Overview & Revenue Model
Company Description
Tonix Pharmaceuticals Holding Corp. is a biopharmaceutical firm primarily operating in the clinical development stage. Its overarching mission involves the discovery, acquisition, advancement, and commercialization of novel therapeutic agents and ...
How the Company Makes Money
Tonix is a clinical-stage company and historically has not generated material recurring revenue from product sales because its primary drug candidates have generally been in development rather than broadly marketed. As a result, its ability to mak...
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 | -145.40M | -122.01M | -74.32M | -112.37M | -108.97M | -92.24M |
| 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
Neutral
9.88
Price Trends
11.65
Negative
12.69
Negative
14.69
Negative
Market Momentum
-0.40
Negative
50.68
Neutral
76.60
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TNXP, the sentiment is Neutral. The current price of 9.88 is below the 20-day moving average (MA) of 11.04, below the 50-day MA of 11.65, and below the 200-day MA of 14.69, indicating a neutral trend. The MACD of -0.40 indicates Negative momentum. The RSI at 50.68 is Neutral, neither overbought nor oversold. The STOCH value of 76.60 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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 | $190.95M | 12.27 | 28.10% | ― | 27.80% | 268.45% | |
67 Neutral | $1.57B | -16.72 | -106.16% | ― | ― | 63.03% | |
54 Neutral | $285.57M | -2.25 | -58.89% | ― | -52.64% | 26.97% | |
52 Neutral | $965.48M | -3.13 | -97.55% | ― | -86.62% | -1121.44% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
51 Neutral | $165.69M | -2.78 | 593.93% | ― | -77.09% | 6.91% | |
47 Neutral | $159.57M | -0.68 | -67.65% | ― | 74.84% | 99.51% |
* Healthcare Sector Average
TNXP
Tonix Pharma
11.26
-34.36
-75.32%
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Tonix Pharma Corporate Events
Business Operations and StrategyProduct-Related AnnouncementsRegulatory Filings and Compliance
Tonix Pharma Advances Phase 2 Lyme Disease Vaccine Study
Positive
Aug 3, 2026
On August 3, 2026, Tonix Pharmaceuticals reported it had received official minutes from a Type C meeting with the U.S. Food and Drug Administration, confirming alignment on the design of an adaptive Phase 2 field study of TNX-4800 for preventing L...
Business Operations and StrategyExecutive/Board Changes
Tonix Pharma announces upcoming retirement of chief medical officer
Negative
Jul 21, 2026
On July 20, 2026, Tonix Pharmaceuticals Holding Corp. reported that Chief Medical Officer Dr. Gregory M. Sullivan had given notice of his retirement. His departure from the C-suite, effective August 20, 2026, marks a significant change in the comp...
Business Operations and StrategyProduct-Related Announcements
Tonix Pharma expands Medicare coverage for TONMYA therapy
Positive
Jul 13, 2026
On July 13, 2026, Tonix Pharmaceuticals announced it had entered into an agreement with a pharmacy benefit manager that will provide Medicare Part D coverage for its drug TONMYA starting January 1, 2027, extending access to approximately 9 million...
Business Operations and StrategyProduct-Related Announcements
Tonix Pharma Begins Pivotal Phase 2 Depression Trial
Positive
Jun 29, 2026
On June 29, 2026, Tonix Pharmaceuticals Holding Corp. reported that it had enrolled the first participant in HORIZON, a potentially pivotal Phase 2 clinical trial of TNX-102 SL 5.6 mg as a first-line monotherapy for adults with major depressive di...
Business Operations and StrategyProduct-Related Announcements
Tonix Pharma Expands Coverage and Access for TONMYA
Positive
Jun 8, 2026
On June 8, 2026, Tonix Pharmaceuticals announced it had entered into an agreement, effective June 1, 2026, with a group purchasing organization to provide coverage for its product TONMYA to approximately 17 million U.S. commercially insured indivi...
Business Operations and StrategyProduct-Related Announcements
Tonix Pharma Highlights Positive Phase 1 TNX-1500 Results
Positive
May 27, 2026
On May 27, 2026, Tonix Pharmaceuticals announced the publication in the Journal of Clinical Immunology of first-in-human Phase 1 data on its TNX-1500 monoclonal antibody candidate. The single-center, randomized, double-blind, placebo-controlled tr...
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...
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.