Tonix Pharmaceuticals (TNXP)
NASDAQ:TNXP
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Tonix Pharma
(NASDAQ:TNXP)
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Rating:45Neutral
Price Target:
$11.00
â–¼(-27.06% Downside)
Action:Reiterated
Date:06/09/26
The score is held down primarily by weak financial performance driven by large ongoing losses and significant cash burn, alongside bearish technicals with the stock trading below all major moving averages and negative MACD. Partially offsetting these are a low-debt balance sheet and positive corporate developments, including expanded TONMYA reimbursement access and continued pipeline progress.
Positive Factors
Expanded Payer Coverage
Material expansion of TONMYA reimbursement meaningfully increases the addressable treated population and structural access to prescriptions. Durable payer coverage reduces barriers to uptake, supports sustained prescription volumes over months, and improves revenue visibility if clinical adoption follows.
Negative Factors
High Cash Burn
Sustained, large negative operating and free cash flow creates structural funding pressure and shortens runway absent material revenue or financing. Ongoing cash consumption increases the need for dilutive raises or deals, limiting financial optionality and placing calendar risk on clinical milestones and commercialization plans.
Read all positive and negative factors
Positive Factors
Negative Factors
Expanded Payer Coverage
Material expansion of TONMYA reimbursement meaningfully increases the addressable treated population and structural access to prescriptions. Durable payer coverage reduces barriers to uptake, supports sustained prescription volumes over months, and improves revenue visibility if clinical adoption follows.
Read all positive factors
Tonix Pharma (TNXP) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$191.45M
Dividend YieldN/A
Average Volume (3M)517.12K
Price to Earnings (P/E)―
Beta (1Y)1.72
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. Volume630,117
30 Day Avg. Volume517,116
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 Cap0.05
Enterprise Value/Revenue0.59
Enterprise Value/Gross Profit1.11
Enterprise Value/Ebitda-0.07
Forecast
1Y Price Target
$43.50Price Target Upside188.46% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)-9.93
Revenue Forecast (FY)$30.05M
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 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 | -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
15.08
Price Trends
12.92
Negative
13.87
Negative
16.81
Negative
Market Momentum
-0.44
Negative
48.16
Neutral
68.94
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 15.08 is above the 20-day moving average (MA) of 11.93, above the 50-day MA of 12.92, and below the 200-day MA of 16.81, indicating a neutral trend. The MACD of -0.44 indicates Negative momentum. The RSI at 48.16 is Neutral, neither overbought nor oversold. The STOCH value of 68.94 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 | $178.87M | 11.56 | 28.10% | ― | 27.80% | 268.45% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
51 Neutral | $172.24M | -2.97 | 593.93% | ― | -77.09% | 6.91% | |
49 Neutral | $243.61M | -1.93 | -58.89% | ― | -52.64% | 26.97% | |
48 Neutral | $365.55M | -41.97 | -106.16% | ― | ― | 63.03% | |
47 Neutral | $772.71M | ― | -97.55% | ― | -86.62% | -1121.44% | |
45 Neutral | $191.45M | -1.12 | -67.65% | ― | 74.84% | 99.51% |
* Healthcare Sector Average
TNXP
Tonix Pharma
12.01
-20.78
-63.37%
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Tonix Pharma Corporate Events
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...
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 ...
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.