Friday, May 14, 2021

Tonix Pharmaceutical Holding Corp. (TNXP) Stock Prices Lack Volatility Following OyaGen Collaboration

TonixPharaceuticals Holding Corp. (TNXP) stock prices are up 0.97% as of market close on April 23rd, 2021, bringing the price per share up to USD$1.04.


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Collaboration with OyaGen

April 19th, 2021 saw TNXP announce their exclusive worldwide licensing agreement with OyaGen for the development of TNX-3500. The experimental COVID-19 antiviral drug is a highly promising pipeline candidate, having been found to be almost 65 times more effective than Gilead Sciences’ remdesivir at inhibiting the COVID-19 virus. Investors now wait for the financial terms of the licensing deal, as well as follow-up studies to be conducted by TNXP in its push towards regulatory approval for TNX-3500.

Development of TNX-1800


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TNXP has also been developing TNX-1800 in the global fight against the pandemic, with efficacy results from a study of TNX-1800 expected in the first quarter of 2021. Pending Federal Drug Administration clearance as an Investigation New Drug, the company anticipates a Phase 1 study using human subjects in the second half of 2021.

Financial Track Record

The company reported USD$77.1 million in cash and cash equivalents as of December 31st2020, a massive increase from the USD$11.2 million reported as of December 31st 2019. Cash used in operations was also up from USD$26.7 million for the full year ended December 31st, 2019 to USD$48.6 million for the full year ended December 31st, 2020.

January Public Offering

January 2021 saw TNXPsell 50 million shares of its common stock in a public offering to generate capital. The shares were priced at USD$0.8 per share, with the offering generating USD$40 million of which USD$36.9 were net proceeds after deductions of costs associated with the offering.

Second Round of Capital Generation

February 2021 also saw the company undertaking a direct public offering, wherein it sold 58,333,334 shares of its common stock at USD$1.2 per share. Gross proceeds amounted to USD$70 million, with the company being left with USD$65 million after the deduction of costs related to the offering.

Investing in Future Gains

Research and Development costs were up to USD$12.1 million in Q4 2020 from the USD$5.7 million reported in the same time period of the previous year. The increased costs are a result of the commencement in 2020 of the development of TNXP’s potential COVID-19 vaccine candidate, TNX-1800. The higher R&D costs can also be attributed to the two Phase 3 studies for TNX-102 SL that were underway in 2020.

Future Outlook for TNXP

With the world hurtling towards universal immunization against the COVID-19 virus, pharmaceuticals with promising candidates have the potential to lead the lucrative war against the pandemic. TNXP has been making excellent head way and has taken steps to ensure it has the capital on hand to maintain that momentum. Investors are excited for results from ongoing studies in the push towards regulatory approval and commercialization, with consequential expectations of very significant increases in shareholder value.

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