Tonix Pharmaceuticals Holding Corp.

Listed Company

TNXPCIK 0001430306NasdaqNon-AcceleratedSmaller ReportingPharmaceutical PreparationsNevadaFY ends Dec 31

Period

FY 2025

Revenue

$13.11M

Net Income

—

Total Assets

$277.17M

Equity

$245.15M

Shares Out

13.41M

Op. Cash Flow

$-99.84M

Business

Tonix Pharmaceuticals Holding Corp. is a fully integrated biopharmaceutical company developing and commercializing therapeutics and vaccines to treat and prevent disease. Its main products and candidates include two marketed prescription migraine therapies (Zembrace SymTouch and Tosymra) and a pipeline led by TNX-102 SL for fibromyalgia plus CNS, immunology, infectious disease and rare-disease candidates (e.g., TNX-1300, TNX-1500, TNX-801, TNX-2900). Key business segments include marketed medicines, CNS, immunology, infectious disease and rare disease development, and manufacturing/R&D facilities. Tonix primarily targets U.S. markets while pursuing global development and distributes products via wholesalers, pharmacies, specialty distributors and partnerships with CMOs, academic collaborators and government agencies.

Summary from filing dated 2025-03-18

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Product revenue, net	13	10	8	—	—
Cost of sales	7	8	5	—	—
Research and development	44	40	87	82	69
Selling, general and administrative	88	40	35	30	—
Asset impairment charges	—	59	—	—	—
Total Operating Expenses	139	147	126	112	92
Operating loss	−126	−137	−118	−112	−92
Grant income	3	3	—	—	—
Gain on change in fair value of warrant liabilities	—	6	—	—	—
Loss on extinguishment of debt	−2	0	—	—	—
Interest income	4	22,000	2	2	25,000
Interest expense	−89,000	−1	—	—	—
Other expense, net	−3	−867,000	2	—	—
Net loss available to common stockholders	−124	−130	−117	−117	−92
Net loss to common stockholders per common share, basic	−14.57	−176.6	−14,720	−20.01	−8.1
Net loss to common stockholders per common share, diluted	−14.57	−176.6	−14,720	−20.01	−8.1
Weighted average common shares outstanding, basic	9	736,339	7,925	6	11
Weighted average common shares outstanding, diluted	9	736,339	7,925	6	11

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	208	99	25	120	179
Accounts receivable, net	6	4	—	—	—
Inventory	6	8	—	—	—
Prepaid expenses and other current assets	9	8	9	11	10
Total current assets	229	119	48	131	189
Property and equipment, net	44	42	94	94	51
Intangible assets, net	120,000	120,000	10	120,000	120,000
Operating lease right-to-use assets	2	565,000	824,000	715,000	914,000
Other non-current assets	2	951,000	1	264,000	379,000
Total assets	277	163	154	226	241
Accounts payable	8	5	4	8	13
Accrued expenses and other current liabilities	23	11	12	10	8
Term loan payable, short term	—	3	2	—	—
Lease liability, short term	125,000	274,000	270,000	432,000	489,000
Total current liabilities	31	18	19	18	22
Term loan payable, long term	—	5	7	—	—
Lease liability, long term	1	358,000	632,000	328,000	467,000
Total liabilities	32	23	49	19	22
Commitments (See Note 17)	—	—	—	—	—
Preferred stock, $0.001 par value; 5,000,000 shares authorized, 0 shares designated as of both December 31, 2025 and 2024; 0 shares issued and outstanding - as of both December 31, 2025 and 2024	—	—	—	—	—
Common stock, $0.001 par value; 1,000,000,000 shares authorized; 12,788,069 and 4,385,929 shares issued and outstanding as of December 31, 2025 and 2024, respectively and 5,883 shares to be issued as of December 31, 2025	13,000	4,000	—	12,000	16,000
Additional paid in capital	1,100	871	706	677	579
Accumulated deficit	−855	−731	−601	−470	−360
Accumulated other comprehensive loss	−289,000	−255,000	−232,000	−167,000	−92,000
Total stockholders equity	245	140	106	207	219
Total liabilities and stockholders equity	277	163	154	226	241

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	2	3	4	1	50,000
Bad debt expense	31,000	—	—	—	—
Stock-based compensation	6	5	9	11	8
Change in fair value of warrant liabilities	—	−6	283,000	—	—
Loss on note	1	0	—	—	—
Inventory write-off	669,000	1	—	—	—
Amortization of debt discounts	65,000	840,000	—	—	—
Issuance costs of derivative instrument	2	—	—	—	—
Accounts receivable	−3	−4	—	—	—
Inventory	2	4	61,000	—	—
Prepaid expenses and other	−3	4	2	−164,000	518,000
Accounts payable	3	927,000	−3	−1	4
Operating lease liabilities and ROU asset, net	−303,000	−13,000	35,000	2,000	−11,000
Accrued expenses and other current liabilities	12	1	2	1	2
Net cash used in operating activities	−100	−61	−102	−98	−76
Issuance of note	−2	—	—	—	—
Proceeds from note	853,000	—	—	—	—
Purchase of property and equipment	−3	−120,000	−8	−48	−35
Net cash used in investing activities	−5	−120,000	−29	−48	−35
Deferred payment related to purchase of business	—	−3	—	—	—
Proceeds from ESPP	—	27,000	29,000	40,000	96,000
Repayments of term loan	−10	−2	—	—	—
Proceeds, net of $8,750 and $7,238 expenses, from sale of common stock and warrants, respectively	238	140	19	94	212
Repurchase of common stock, net of $30 expenses	−14	—	−14	—	—
Net cash provided by financing activities	215	135	37	88	212
Effect of currency rate change on cash	−31,000	4,000	−65,000	−74,000	−31,000
Net increase in cash, cash equivalents and restricted cash	110	74	−95	−58	102
Interest paid	89,000	1	88,000	—	—
Purchases of property and equipment included in accounts payable and accrued liabilities	865,000	—	106,000	3	7
Net ATM proceeds received after year-end	—	2	—	—	—
Issuance costs from derivative instruments	2	—	—	—	—
New operating leases and lease amendments	1	—	898,000	386,000	—

Filings

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