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Tonix Pharmaceuticals, Inc. Prices $16,005,000 Common Stock Offering Priced At-The-Market
NEW YORK, Feb. 28, 2020 (GLOBE NEWSWIRE) -- TONIX PHARMACEUTICALS, INC. (NASDAQ: TNXP) (“Tonix” or the “Company”), a clinical-stage biopharmaceutical company,
About this update from Tonix Pharmaceuticals Holding Corp.
[{"type":"text","content":"NEW YORK, Feb. 28, 2020 (GLOBE NEWSWIRE) -- TONIX PHARMACEUTICALS, INC. (NASDAQ: TNXP) (“Tonix” or the “Company”), a clinical-stage biopharmaceutical company, today announced it has entered into a securities purchase agreement with institutional investors for the purchase and sale of 14,550,000 shares of common stock, par value $0.001 per share at an offering price of $1.10 per share, pursuant to a registered direct offering, priced at-the-market under Nasdaq rules. The gross proceeds of the offering will be $16,005,000 before deducting fees and other estimated offering expenses. The closing of the registered direct offering is expected to take place on or about March 3, 2020, subject to the satisfaction of customary closing conditions.\n A.G.P./Alliance Global Partners is acting as sole placement agent for the offering. This offering was made pursuant to an effective shelf registration statement on Form S-3 (File No. 333-224586) previously filed with the U.S. Securities and Exchange Commission (the “SEC”). This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. A prospectus supplement relating to the shares of common stock will be filed by Tonix with the SEC. When available, copies of the prospectus supplement, together with the accompanying prospectus, can be obtained at the SEC's website at www.sec.gov or from A.G.P./Alliance Global Partners, 590 Madison Avenue, 36th Floor, New York, New York 10022 or by email at [email protected]. About Tonix Pharmaceuticals, Inc. Tonix is a clinical-stage biopharmaceutical company focused on discovering and developing small molecules and biologics to treat pain, addiction and psychiatric conditions. Tonix’s lead product candidate, TNX-102 SL*, is in Phase 3 development as a bedtime treatment for fibromyalgia and PTSD. The Company is enrolling participants in the Phase 3 RELIEF trial in fibromyalgia and expects results from an unblinded interim analysis in the third quarter of 2020 and topline data in the first half of 2020. The Phase 3 RECOVERY trial (P302) for TNX-102 SL (trade name Tonmya**) in PTSD has stoppe...