Tonix Pharmaceuticals Holding Corp. (TNXP) stock went up by 8.49% to trade at $0.5050 in the aftermarket on November 22. The stock went down by 3.84% during normal trading at a volume of 24.81 million, to close at $0.4655. In the after-hours, 3.34 million shares exchanged hands. Over the 52-week range, the stock fluctuated between $0.4550 and $2.2100, at an average volume of 13.52 million (65-day). In the past week, the stock went down by 19.48%, while in the past three months, it has lost 32.51%. Overall, the stock lost a value of 31.04% year to date. Furthermore, the company’s current market share stands at $212.81 million with 439.59 million outstanding shares. The recent uptrend in the stock was witnessed after the company announced its new publication on November 22.
Tonix Pharmaceuticals Holding Corp. (TNXP) discovers, acquires, develops, and licenses small molecules and biologics for the treatment and prevention of diseases.
TNXP’s Publication
On November 22, TNXP announced its paper publication on antiviral SARS-CoV-2 Inhibitor, TNX-3500, in JCI Insight. According to the paper, the TNX-3500 shows great potential against various variants of SARS-CoV-2 and even surpasses Remdesivir. SARS-CoV-2 is the cause of Covid-19, while Remdesivir is a broad spectrum anti-viral medication used against it. TNXP’s TNX-3500 is much more potent than Remdesivir as it suppresses viral replication in tissue culture with great efficacy. While after a combination test on both drugs showed additive effect against the virus instead of competitive effect.
In April 2021, Tonix Pharmaceuticals Holding Corp. (TNXP) entered licensing agreement with OyaGen Inc. for developing TNX-3500. Both the companies under collaboration with the National Institute of Health uncovered the recent findings. TNX-3500’s potency against SARS-CoV-2 is a huge step in achieving some kind of countermeasure against not only the current but future variants of the virus.
Previously, TNX-3500 had also shown broad-spectrum antiviral effects against the Ebola virus, Lassa virus, and orthopoxviruses.
The company’s Financial Highlights
On November 8, Tonix Pharmaceuticals Holding Corp. (TNXP) announced its financial results for the quarter ended September 30, 2021. As per Q3 of 2021, the company had R&D expended of $13.1 million, against $8.8 million in Q3 of 2020. While the general and administrative expenses for Q3 2021, were $5.5 million, against $3.2 million for the same period of 2020.
Moreover, the net loss of TNXP in Q3 2021, was $18.5 million, compared to that of $12.0 million for the same period of 2020. Consequently, the net loss per basic and diluted share was $0.05 in Q3 2021, against $0.09 in that of 2020.
Furthermore, cash and cash equivalents at September 30, 2021, were $183.0 million, compared to $77.1 million on December 31, 2020.
