Shares of Tonix Pharmaceuticals (NASDAQ: TNXP) are down 21% in mid-day trade. The company this morning announced the pricing of an underwritten public offering of common stock and warrants at an offering price of $0.55 per unit. The company said it plans to use the gross proceeds of approximately $5.2 million to support the continued development of TNX-102 SL for the treatment of posttraumatic stress disorder (PTSD), including completion of the first interim analysis in the phase 3 study in military-related PTSD, to further develop other pipeline programs, for working capital and other general corporate purposes.
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About Tonix Pharmaceuticals Holding Corp.
Tonix is developing next-generation medicines for common disorders of the central nervous system, with its lead program focusing on posttraumatic stress disorder. This disorder is characterized by chronic disability, inadequate treatment options, high utilization of healthcare services, and significant economic burden. For more information visit www.tonixpharma.com
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