Tonix Pharmaceuticals Holding Corp. announced it has entered into a securities purchase agreement with Point72 for a registered direct offering of 615,025 shares of common stock at $16.26 per share, or pre-funded warrants to purchase up to an aggregate of 615,025 shares at a purchase price of $16.259 per warrant, for gross proceeds of approximately $20.0 million before fees and expenses. The offering is expected to close on or about Dec. 30, 2025, subject to customary closing conditions, with net proceeds intended to fund commercialization of marketed products, development of the company's product pipeline, and general working capital and corporate purposes.
This financial transaction is significant because it provides Tonix with substantial capital to advance multiple therapeutic programs addressing conditions with high unmet medical needs. The company markets FDA-approved TONMYA, a first-in-class, non-opioid analgesic medicine for the treatment of fibromyalgia, a chronic pain condition that affects millions of adults. TONMYA is the first new prescription medicine approved by the FDA for fibromyalgia in more than 15 years, representing an important alternative to opioid-based pain management approaches.
Beyond its marketed products, Tonix's development portfolio is focused on central nervous system disorders, immunology, immuno-oncology, rare disease and infectious disease. TNX-102 SL is being developed to treat acute stress reaction and acute stress disorder under an Investigator-Initiated IND at the University of North Carolina in the OASIS study funded by the U.S. Department of Defense. This program addresses mental health conditions particularly relevant to military personnel and first responders.
The company's immunology development portfolio includes TNX-1500, a Phase 2-ready Fc-modified humanized monoclonal antibody targeting CD40-ligand being developed for the prevention of allograft rejection and for the treatment of autoimmune diseases. Tonix's rare disease portfolio includes TNX-2900, intranasal oxytocin potentiated with magnesium, in development for Prader-Willi syndrome and expected to start a potential pivotal Phase 2 study in 2026.
Infectious disease programs represent another important area of focus, with TNX-801, a vaccine in development for mpox and smallpox, and TNX-4800, a Phase 2-ready long-acting humanized monoclonal antibody for the seasonal prevention of Lyme disease. The company also has TNX-4200, for which Tonix has a contract with the U.S. DoD's Defense Threat Reduction Agency for up to $34 million over five years, targeting high lethality infections to improve medical readiness of military personnel.
The latest news and updates relating to TNXP are available in the company's newsroom at https://ibn.fm/TNXP. TD Cowen is acting as sole placement agent for the offering, with A.G.P./Alliance Global Partners serving as financial advisor. This capital infusion comes at a critical time as Tonix seeks to advance multiple clinical programs while expanding commercialization of its approved therapies, potentially bringing new treatment options to patients across several therapeutic areas with significant public health implications.
