Tonix Pharmaceuticals Holding Corp. (NASDAQ: TNXP) 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. The offering is expected to generate gross proceeds of approximately $20.0 million before fees and expenses, with closing anticipated on or about Dec. 30, 2025, subject to customary closing conditions.
The net proceeds from this financing are intended to fund commercialization of marketed products, development of the company's product pipeline, and general working capital and corporate purposes. TD Cowen is acting as sole placement agent for the offering, with A.G.P./Alliance Global Partners serving as financial advisor. The full details of the offering are available in the company's official announcement at https://ibn.fm/Wt9Ek.
This capital infusion comes at a critical juncture for Tonix, a fully-integrated biotechnology company with both marketed products and a substantial development pipeline. The company markets FDA-approved TONMYA(TM), a first-in-class, non-opioid analgesic medicine for the treatment of fibromyalgia, a chronic pain condition affecting millions of adults. TONMYA represents the first new prescription medicine approved by the FDA for fibromyalgia in more than 15 years and was previously investigated as TNX-102 SL.
Beyond its marketed products, Tonix maintains a diverse development portfolio focused on central nervous system disorders, immunology, immuno-oncology, rare disease and infectious disease. The company's CNS pipeline includes TNX-102 SL, which 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. TNX-102 SL is also in development for major depressive disorder.
Tonix's immunology development portfolio consists of biologics to address organ transplant rejection, autoimmunity and cancer, including TNX-1500, a Phase 2-ready Fc-modified humanized monoclonal antibody targeting CD40-ligand being developed for the prevention of allograft rejection and treatment of autoimmune diseases. The rare disease portfolio includes TNX-2900, intranasal oxytocin potentiated with magnesium, in development for Prader-Willi syndrome with a potential pivotal Phase 2 study expected to start in 2026.
Perhaps most strategically significant is Tonix's infectious disease portfolio, which includes TNX-801, a vaccine in development for mpox and smallpox, as well as TNX-4800, a Phase 2-ready long-acting humanized monoclonal antibody for the seasonal prevention of Lyme disease. Additionally, TNX-4200 represents a small molecule broad-spectrum antiviral agent targeting CD45 for the prevention or treatment of high lethality infections, supported by a contract with the U.S. DoD's Defense Threat Reduction Agency for up to $34 million over five years to improve medical readiness of military personnel in biological threat environments.
The $20 million offering provides Tonix with essential capital to advance these multiple development programs simultaneously, positioning the company to potentially address significant unmet medical needs across multiple therapeutic areas. For business and technology leaders tracking the biotechnology sector, this financing demonstrates continued investor confidence in Tonix's diversified approach to drug development and its ability to advance both commercial and development-stage assets. The company's ownership and operation of a state-of-the-art infectious disease research facility in Frederick, Maryland further strengthens its research capabilities in this critical area.
