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Tonix Pharma
(NASDAQ:TNXP)
Tonix Pharma (TNXP) vs. SPDR S&P 500 ETF (SPY)
Tonix Pharma Business Overview & Revenue Model
Tonix Pharma Financial Statement Overview
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 10.30M | 10.09M | 7.77M | 0.00 | 0.00 | 0.00 |
| Gross Profit | 3.53M | 2.33M | 3.03M | 0.00 | 0.00 | -27.00K |
| EBITDA | -97.31M | -74.32M | -114.09M | -110.84M | -92.26M | -50.44M |
| Net Income | -99.22M | -130.04M | -116.66M | -110.22M | -92.29M | -50.46M |
Balance Sheet | ||||||
| Total Assets | 252.44M | 162.89M | 154.46M | 225.69M | 240.90M | 98.18M |
| Cash, Cash Equivalents and Short-Term Investments | 190.06M | 98.78M | 24.95M | 120.23M | 178.66M | 77.07M |
| Total Debt | 425.00K | 5.30M | 9.81M | 760.00K | 956.00K | 1.31M |
| Total Liabilities | 21.30M | 23.33M | 48.93M | 18.51M | 22.18M | 10.54M |
| Stockholders Equity | 231.14M | 139.56M | 105.53M | 207.18M | 218.72M | 87.65M |
Cash Flow | ||||||
| Free Cash Flow | -78.33M | -61.05M | -109.90M | -146.20M | -110.86M | -57.13M |
| Operating Cash Flow | -74.82M | -60.92M | -102.00M | -98.05M | -75.56M | -48.57M |
| Investing Cash Flow | -3.51M | -120.00K | -29.07M | -48.15M | -35.31M | -8.56M |
| Financing Cash Flow | 240.54M | 134.87M | 36.52M | 87.84M | 212.49M | 123.11M |
Tonix Pharma Technical Analysis
Tonix Pharma Risk Analysis
Tonix Pharma Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
56 Neutral | $142.35M | 25.61 | 12.64% | ― | 35.42% | ― | |
56 Neutral | $293.88M | -5.92 | -110.72% | ― | ― | 77.08% | |
55 Neutral | $288.42M | ― | -174.79% | ― | -76.59% | 94.03% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
50 Neutral | $116.51M | ― | -52.35% | ― | -46.92% | 20.26% | |
49 Neutral | $169.78M | -2.96 | -271.32% | ― | -75.77% | -31.24% | |
43 Neutral | $196.42M | -0.02 | -64.99% | ― | -8.79% | 81.36% |
Tonix Pharma Corporate Events
On December 29, 2025, Tonix Pharmaceuticals entered into a securities purchase agreement with a single institutional investor for a registered direct offering comprising 615,025 shares of common stock and pre-funded warrants to purchase an additional 615,025 shares, at per-share and per-warrant prices of $16.26 and $16.259, respectively. The transaction, expected to close on or about December 30, 2025, is anticipated to generate approximately $20 million in gross proceeds and includes standard terms such as ownership caps on warrant exercises, short-term restrictions on Tonix issuing additional equity or variable-rate securities, and 30-day lock-up agreements for directors and officers; TD Securities (USA) LLC is acting as placement agent and will receive a 6% cash fee on the gross proceeds, underscoring Tonix’s continued reliance on equity-linked financings to support its operations and balance sheet while signaling to stakeholders a willingness to accept issuance constraints in exchange for near-term capital.
The most recent analyst rating on (TNXP) stock is a Hold with a $18.00 price target. To see the full list of analyst forecasts on Tonix Pharma stock, see the TNXP Stock Forecast page.
On December 29, 2025, Tonix Pharmaceuticals announced updated plans for its TNX-4800 Lyme disease prophylaxis program, including a scheduled 2026 meeting with the U.S. Food and Drug Administration to explore Phase 2/3 development options and the potential use of a controlled human infection model involving Borrelia-infected ticks to demonstrate efficacy. The company reported results from a randomized, double-blind, dose-escalation study in 44 healthy adults showing that single subcutaneous doses up to 10 mg/kg were generally safe and well tolerated, with mostly mild or moderate adverse events, rapid systemic absorption, long-lasting serum levels measurable for up to 12 months, low incidence of anti-drug antibodies, and drug exposure well below levels associated with toxicity in animal studies, underscoring TNX-4800’s potential as an annually administered alternative to traditional Lyme vaccines and signaling a strategic step toward later-stage clinical development.
The most recent analyst rating on (TNXP) stock is a Hold with a $18.00 price target. To see the full list of analyst forecasts on Tonix Pharma stock, see the TNXP Stock Forecast page.
On December 16, 2025, Tonix Pharmaceuticals announced it has secured exclusive worldwide rights to TNX-4900, a promising non-opioid treatment for chronic neuropathic pain, from Rutgers University. This licensing agreement highlights Tonix’s strategic move to enhance its portfolio with a highly selective Sigma-1 receptor antagonist, which has shown significant efficacy and safety in preclinical models, potentially positioning the company as a leader in non-opioid pain management solutions.
The most recent analyst rating on (TNXP) stock is a Hold with a $20.00 price target. To see the full list of analyst forecasts on Tonix Pharma stock, see the TNXP Stock Forecast page.
On December 9, 2025, Tonix Pharmaceuticals announced the appointment of Irina Ishak as General Counsel. Ms. Ishak, with over 25 years of experience in the life sciences industry, will lead the company’s legal, corporate governance, and compliance functions. Her appointment is expected to support Tonix’s commercialization efforts and strategic growth, particularly following the recent FDA approval of their fibromyalgia treatment, TONMYA.
The most recent analyst rating on (TNXP) stock is a Hold with a $19.50 price target. To see the full list of analyst forecasts on Tonix Pharma stock, see the TNXP Stock Forecast page.
On November 24, 2025, Tonix Pharmaceuticals announced that the FDA cleared their IND application for TNX-102 SL, a sublingual tablet designed to treat major depressive disorder in adults. The clearance allows the company to proceed with the Phase 2 HORIZON study, a 6-week trial involving 360 patients across 30 U.S. sites, comparing TNX-102 SL to a placebo. This development marks a significant step in Tonix’s clinical development efforts and could impact their market positioning by addressing unmet needs in MDD treatment.
The most recent analyst rating on (TNXP) stock is a Sell with a $17.00 price target. To see the full list of analyst forecasts on Tonix Pharma stock, see the TNXP Stock Forecast page.
On November 21, 2025, Tonix Pharmaceuticals amended its Sales Agreement with A.G.P./Alliance Global Partners to increase the maximum aggregate offering price of shares from $150 million to $400 million. This amendment allows Tonix to potentially raise more capital, which could enhance its operational capabilities and strengthen its market position.
The most recent analyst rating on (TNXP) stock is a Sell with a $17.00 price target. To see the full list of analyst forecasts on Tonix Pharma stock, see the TNXP Stock Forecast page.
On November 18, 2025, Tonix Pharmaceuticals Holding Corp. announced that its Board of Directors approved an increase to its share repurchase program. The company may now repurchase up to an additional $25 million in value of its outstanding common stock, raising the total authorized shares under the program to $35 million.
The most recent analyst rating on (TNXP) stock is a Sell with a $17.00 price target. To see the full list of analyst forecasts on Tonix Pharma stock, see the TNXP Stock Forecast page.
On November 17, 2025, Tonix Pharmaceuticals announced that its product, TONMYATM (cyclobenzaprine HCl sublingual tablets), is now commercially available by prescription in U.S. pharmacies. This development marks a significant step for the company, potentially enhancing its market presence and offering new treatment options for patients, thereby impacting stakeholders positively.
The most recent analyst rating on (TNXP) stock is a Sell with a $17.00 price target. To see the full list of analyst forecasts on Tonix Pharma stock, see the TNXP Stock Forecast page.
On October 22, 2025, Tonix Pharmaceuticals announced that the first patient was dosed in the FOCUS study at Massachusetts General Hospital, targeting adult patients with arginine-vasopressin deficiency (AVP-D). The study is a randomized, double-blind, placebo-controlled crossover pilot designed to evaluate the company’s intranasal potentiated oxytocin products, TNX-2900 and TNX-1900, on markers of anxiety, depression, and socioemotional functioning. This trial aims to generate preliminary data for future studies on oxytocin replacement therapy, potentially impacting the treatment landscape for AVP-D and improving patient quality of life.
The most recent analyst rating on (TNXP) stock is a Hold with a $41.00 price target. To see the full list of analyst forecasts on Tonix Pharma stock, see the TNXP Stock Forecast page.
Tonix Pharmaceuticals announced plans to initiate a Phase 2 trial of its TNX-102 SL product candidate for major depressive disorder in 2026, and an adaptive Phase 2/3 study of TNX-4800 for the seasonal prevention of Lyme disease in 2027. These developments are part of the company’s strategic efforts to expand its clinical pipeline and strengthen its position in the pharmaceutical market.
The most recent analyst rating on (TNXP) stock is a Hold with a $41.00 price target. To see the full list of analyst forecasts on Tonix Pharma stock, see the TNXP Stock Forecast page.