Tonix Pharmaceuticals Holding Corp. announced a $20 million registered direct offering with investment firm Point72, providing critical capital to advance the biotechnology company's commercialization efforts and clinical development pipeline. The offering involves 615,025 shares of common stock at $16.26 per share or pre-funded warrants at $16.259 per warrant, with gross proceeds expected before fees and expenses. The transaction is scheduled to close around December 30, 2025, subject to customary closing conditions, with TD Cowen serving as sole placement agent and A.G.P./Alliance Global Partners as financial advisor.
The funding announcement carries significant implications for patients and investors as Tonix markets TONMYA, the first new FDA-approved prescription medicine for fibromyalgia in over 15 years, addressing a chronic pain condition affecting millions of adults. The company also markets two acute migraine treatments: Zembrace SymTouch and Tosymra. Net proceeds from the offering will fund commercialization of these marketed products, development of the company's product pipeline, and general working capital and corporate purposes, according to the company's announcement available at https://ibn.fm/Wt9Ek.
Tonix's development portfolio spans multiple therapeutic areas with substantial market potential. In central nervous system disorders, TNX-102 SL is being developed for acute stress reaction and acute stress disorder through an Investigator-Initiated IND at the University of North Carolina in the OASIS study funded by the U.S. Department of Defense, and also for major depressive disorder. The immunology pipeline includes TNX-1500, a Phase 2-ready Fc-modified humanized monoclonal antibody targeting CD40-ligand for preventing allograft rejection and treating autoimmune diseases.
The company's rare disease portfolio features TNX-2900, intranasal oxytocin potentiated with magnesium for Prader-Willi syndrome, with a potential pivotal Phase 2 study expected to begin in 2026. Infectious disease candidates include TNX-801 vaccine for mpox and smallpox, and TNX-4800, a Phase 2-ready long-acting humanized monoclonal antibody for seasonal prevention of Lyme disease. Additionally, TNX-4200, supported by a contract with the U.S. DoD's Defense Threat Reduction Agency worth up to $34 million over five years, represents a small molecule broad-spectrum antiviral targeting CD45 for preventing or treating high lethality infections in military biological threat environments.
This financing round represents a strategic investment in a company with both marketed products and a diversified development pipeline across high-need therapeutic areas. The funding enables continued advancement of multiple clinical programs while supporting commercialization of existing products, potentially bringing new treatment options to patients with fibromyalgia, CNS disorders, autoimmune conditions, rare diseases, and infectious diseases. The investment from Point72 signals confidence in Tonix's approach to addressing significant unmet medical needs across its portfolio. Investors can access the latest news and updates relating to TNXP through the company's newsroom at https://ibn.fm/TNXP.
