Tonix Pharmaceuticals Holding Corp. (Nasdaq: TNXP) (Tonix or the
Company), a fully-integrated biopharmaceutical company with
marketed products and a pipeline of development candidates, today
announced financial results for the second quarter ended June 30,
2024, and provided an overview of recent operational highlights.
“In the second quarter of 2024, we made
significant progress advancing our New Drug Application (NDA) and
market access strategy for TNX-102 SL (cyclobenzaprine HCl
sublingual tablets),” said Seth Lederman, M.D., Chief Executive
Officer of Tonix. “We are working diligently on the regulatory
submission and are pleased to have been granted Fast Track
designation by the U.S. Food and Drug Administration (FDA) and to
be in alignment with the agency regarding the content of our
proposed NDA package. Fast Track is designed to facilitate the
development and expedite FDA review of important new drugs to treat
serious conditions and fill an unmet medical need. We are hopeful
that TNX-102 SL can be the first new drug to treat fibromyalgia in
more than 15 years.”
Dr. Lederman continued, “Additionally, we
continue to advance other key pipeline candidates through a capital
efficient strategy, including TNX-4200, our broad-spectrum
antiviral program for which we were awarded up to $34 million over
five years from the U.S. Department of Defense (DoD) to advance its
development.”
Recent Highlights – Key Product
Candidates*
Central Nervous System (CNS) Pipeline
TNX-102 SL (cyclobenzaprine HCl sublingual
tablets): a centrally-acting, non-opioid, analgesic taken
once-daily at bedtime for the management of fibromyalgia.
- In July 2024, the
FDA granted Fast Track designation to TNX-102 SL for the management
of fibromyalgia. The designation validates that fibromyalgia is a
serious condition and that TNX-102 SL has the potential to address
this unmet medical need. The Company continues to guide for
submission of the NDA for TNX-102 SL in the second half of 2024
which would allow for a potential FDA approval in 2025.
- In July 2024,
Tonix announced that, based on the new definition of Long COVID by
the U.S. National Academies of Sciences, Engineering and Medicine
(NASEM), fibromyalgia is a ‘diagnosable condition’ in people
suffering from Long COVID. The Company believes that diagnosing
fibromyalgia in Long COVID patients will increase the potential
market for TNX-102 SL following approval as compared to market
estimates from before the COVID-19 pandemic.
- During the second
quarter, Tonix successfully completed two positive pre-NDA meetings
with the FDA for TNX-102 SL for the management of fibromyalgia. The
first, with minutes announced in June 2024, was a Type B Chemistry,
Manufacturing, and Controls (CMC) meeting to seek alignment and
agreement with the FDA on key CMC topics to support the planned NDA
submission for TNX-102 SL. Based on formal meeting minutes, the
Company believes it is aligned with the FDA on proposed drug
substance and drug product commercial specifications, shelf life
assignment, manufacturing and commercial drug packaging. At the
second pre-NDA meeting announced in July 2024, the Company and the
FDA aligned on nonclinical, clinical pharmacology and clinical
matters and agreed that the proposed data package is sufficient to
support the NDA submission.
- In June 2024, at
the American Society of Clinical Psychopharmacology (ASCP) meeting
the Company presented new, additional data on TNX-102 SL,
highlighting improvement in depressive symptoms as measured by the
Beck Depression Inventory-II (BDI-II) as well as improvements in
anxiety, memory and energy items on the Fibromyalgia Impact
Questionnaire-Revised (FIQR). Depression was frequent among
patients enrolled in the Phase 3 RESILIENT study, as ~47% reported
experiencing depression within the past six months upon
fibromyalgia diagnosis and ~25% of the intent-to-treat (ITT)
population had experienced a lifetime major depressive episode
(MDE). However, by Week 14 of the trial, the total BDI-II score in
the TNX-102 SL group improved over placebo with a nominal p-value
of 0.005 and an effect size of 0.27. On the FIQR, exploratory
analyses uncorrected for multiplicity demonstrated improvement in
the TNX-102 SL group over placebo in depression (p < 0.001),
anxiety (p = 0.001), sensitivity (p = 0.020), memory problems (p =
0.001) and energy (p < 0.001). TNX-102 SL was well tolerated and
the most common adverse events were transient sensations in the
mouth corresponding with the disintegration of the tablet under the
tongue. Together these findings provide further support that
TNX-102 SL has broad-spectrum activity against fibromyalgia
symptoms and may improve fibromyalgia at the syndromal level.
- EVERSANA® Life
Science Services, LLC, a leading provider of commercialization
services to the global life sciences industry, completed the
initial phase of an assessment of the U.S market opportunity for
TNX-102 SL. Tonix had previously announced that EVERSANA was
selected to support the launch strategy and commercial planning of
TNX-102 SL. Specifically, EVERSANA is working with Tonix to assess
the fibromyalgia landscape and help plan an efficient go-to-market
strategy. EVERSANA conducted primary research, analyzed potential
market size, surveyed currently marketed treatment options and
their market shares and interviewed physicians for feedback
regarding the currently prescribed treatments and their interest in
TNX-102 SL as a potential new treatment option. This physician
feedback demonstrated high levels of dissatisfaction with currently
prescribed drugs, a high unmet need for their fibromyalgia
patients, and high levels of interest in TNX-102 SL’s favorable
activity and tolerability profile. Further analysis showed that
addictive opioids are prescribed more frequently than the currently
approved drugs following fibromyalgia diagnosis. Physicians also
indicated they would intend to use TNX-102 SL in 40% of their
fibromyalgia patients.1
TNX-102 SL for the treatment of acute stress
reaction (ASR) and acute stress disorder (ASD), and prophylaxis
against development of posttraumatic stress disorder (PTSD)
- In May 2024, Tonix
announced a plan for a Phase 2, investigator-initiated OASIS trial,
designed to examine the safety and efficacy of TNX-102 SL in
treating Acute Stress Disorder (ASD) after motor vehicle collision.
The trial is sponsored by the University of North Carolina
Institute for Trauma Recovery and supported by a $3 million
contract from the DoD, which was awarded in September
2023. TNX-102 SL will be evaluated for the reduction in
severity of acute stress reaction (ASR) and the frequency of acute
stress disorder (ASD) and posttraumatic stress disorder (PTSD) in
civilians after a motor vehicle collision. Previous trials of
TNX-102 SL showed that it reduced military PTSD symptoms within two
weeks while evidencing similar favorable tolerability as in
fibromyalgia patients.
- Tonix expects to
enroll the first patient in the Phase 2 OASIS trial in the third
quarter of 2024.
TNX-1300 (recombinant double mutant cocaine
esterase): biologic for life-threatening cocaine intoxication
- Tonix expects to
initiate a Phase 2 clinical study of TNX-1300 for the treatment of
cocaine intoxication in emergency rooms in the third quarter of
2024. In 2022, Tonix was awarded a Cooperative Agreement grant from
the National Institutes of Health (NIH)’s National Institute of
Drug Abuse (NIDA) to support development of TNX-1300.
- TNX-1300 has been
granted Breakthrough Therapy designation by the
FDA.
TNX-1900 (intranasal potentiated oxytocin):
small peptide in development through investigator-initiated studies
for adolescent obesity, binge eating disorder (BED), bone health in
autism and social anxiety disorder (SAD).
- TNX-1900 continues
to be studied in four ongoing investigator-initiated Phase 2
studies. There are three studies at Massachusetts General Hospital:
the POWER study for the treatment of adolescent obesity, the STROBE
study for the treatment of BED, and the BOX study for the treatment
of bone health in pediatric autism. In addition, Tonix is
conducting an investigator-initiated study of TNX-1900 for the
treatment of SAD at the University of Washington.
Rare Disease Pipeline
TNX-2900 (intranasal potentiated oxytocin):
small peptide for the treatment of Prader-Willi syndrome (PWS)
- In March 2024,
Tonix announced that it received Rare Pediatric Disease designation
from the FDA for TNX-2900 for the treatment of PWS. Tonix has an
investigational new drug (IND) to support clinical development of
TNX-2900 to treat PWS in children and adolescents, including a
planned Phase 2, dose-finding study involving approximately 36 PWS
patients. TNX-2900 for the treatment of PWS was granted Orphan Drug
designation by the FDA in 2022. PWS is a rare genetic disorder
which causes cognitive and behavioral symptoms including
pathological over-eating in childhood, which leads to severe
metabolic sequelae in adolescence and adulthood.
Immunology Pipeline
TNX-1500 (anti-CD40L Fc-modified humanized
monoclonal antibody): third generation anti-CD40L monoclonal
antibody for prophylaxis of organ transplant rejection and
treatment of autoimmune disorders.
- The first proposed
indication for TNX-1500 is prophylaxis of organ rejection in adult
patients receiving a kidney transplant; but multiple additional
indications are possible, including autoimmune diseases.
Preclinical studies have shown that TNX-1500 maintains the activity
of first-generation monoclonal antibodies (mAbs), yet with reduced
risk of thrombotic complications.2-4 Modeling studies from animal
pharmacokinetic data2 predict a half-life of greater than three
weeks for TNX-1500 in humans, which supports a monthly i.v. dosing
regimen5,6. This analysis together with TNX-1500’s activity and
tolerability in animals, suggests that the protein engineering of
TNX-1500’s Fc region has achieved its design goals.
- In June 2024, at
the American Transplant Congress 2024, Tonix announced data
demonstrating the combined use of TNX-1500 and anti-CD28 monoclonal
antibody, VEL-101 is associated with durable protection and graft
survival and function in a nonhuman primate model. Further data
demonstrated that TNX-1500 has promise to prevent rejection of 9-,
or 10-gene-edited (GE) pig hearts.7,8 All research has been
directed by the faculty of the Center for Transplantation Sciences
at Massachusetts General Hospital.
- Tonix completed
the clinical stage of its Phase 1 single ascending dose study of
TNX-1500 in healthy volunteers. The primary objectives of the study
are to assess the safety, tolerability, pharmacokinetics and
pharmacodynamics of intravenous TNX-1500. This first-in-human study
is intended to support dosing in a planned Phase 2 trial in kidney
transplant recipients.
Infectious Disease Pipeline
TNX-4200 (orally available CD45 antagonist),
TNX-3900 (cathepsin inhibitor), TNX-4000 (glycan-targeted
biologic)
- Tonix is
developing potential broad-spectrum antiviral drugs in three
programs: CD45-targeted therapeutics (TNX-4200), cathepsin
inhibitors (TNX-3900) and viral glycan-targeted engineered
biologics (TNX-4000).
- In July 2024, the
Company announced that the DoD’s Defense Threat Reduction Agency
(DTRA) awarded it a contract for up to $34 million over five years
in an Other Transaction Agreement (OTA). The objective of the
contract is to develop small molecule broad-spectrum antiviral
agents for the prevention or treatment of infections to improve the
medical readiness of military personnel in biological threat
environments. The $34 million five-year contract will help fund and
accelerate the development of Tonix’s broad-spectrum antiviral
program, which has the potential to reduce viral load and allow the
adaptive immune system to alert the other arms of the immune system
to mount a protective response. The Company’s program will focus on
optimization and development of its TNX-4200 program, to develop an
orally available CD45 antagonist, with broad-spectrum efficacy
against a range of viral families through preclinical evaluation.
The program is expected to establish physicochemical properties,
pharmacokinetics, and safety attributes to support an IND
submission and to fund a first-in-human Phase 1 clinical
study.
TNX-801 (recombinant horsepox virus, live
vaccine): potential vaccine to protect against mpox disease and
smallpox.
- In June
2024, Tonix announced data at an oral keynote presentation at the
Vaccine Congress 2024, detailing the company vaccine platform,
including TNX-801 (horsepox, live virus) vaccine for preventing
mpox (formerly known as monkeypox). TNX-801 is a live replicating
attenuated vaccine based on horsepox that is believed to provide
immune protection with better tolerability than modern vaccinia
viruses. In the data, Tonix highlighted positive preclinical
efficacy, demonstrating that TNX-801 protected non-human primates
against lethal challenge with intratracheal Clade 1 monkeypox
virus.9 After a single dose vaccination, TNX-801 prevented clinical
disease and lesions and also decreased shedding in the mouth and
lungs of non-human primates. These findings are consistent with
mucosal immunity and suggest the ability to block forward
transmission.
- The WHO
determined that the upsurge of mpox in a growing number of
countries in Africa constitutes a public health emergency of
international concern, the second such declaration in the past two
years called in response to transmission of the virus.
- Mpox is
epidemic in Central Africa and experts fear the new Clade 1 strain
may spread to the U.S.
- The
company’s Good Manufacturing Practice (GMP)-capable advanced
manufacturing facility in Dartmouth, MA was purpose-built to
manufacture TNX-801 and the GMP suites are ready to be reactivated
in case of a national or international emergency.
TNX-1800 (modified recombinant horsepox virus,
live vaccine): potential vaccine to protect against COVID-19
designed to express the SARS-CoV-2 spike protein
- In June 2024, the
Company announced preclinical data, demonstrating immunity and
tolerability, during an oral keynote talk at the Vaccine Congress
2024.10,11 Like TNX-801, TNX-1800 is a live replicating attenuated
vaccine based on horsepox that is believed to provide immune
protection with better tolerability than modern vaccinia viruses.
TNX-1800 was selected by the NIH’s Project NextGen for inclusion in
clinical trials as part of a select group of next generation
COVID-19 vaccine candidates with the intent to identify promising
vaccine platforms. NIH plans to conduct a Phase 1 trial and cover
the full cost, while Tonix provides the vaccine candidate.
Marketed Products – Recent
Highlights
- As of
April 1, 2024, Tonix completed the transition to becoming a fully
integrated biopharmaceutical company. Tonix Pharmaceuticals has
implemented personnel, systems and contracts required to support a
commercial organization and has assumed responsibility for
distribution, selling and marketing of Zembrace SymTouch® and
Tosymra®, as well as supply chain, regulatory and quality control
of the two products.
- In June
2024, the Company presented data at the 66th Annual Scientific
Meeting of the American Headache Society (AHS) comparing real-world
data with real-world usage of non-oral migraine products with the
most recent AHS consensus statement. This data stressed the need
for customizing treatment of migraine headaches to the needs of
patients. Thus far, real world data show that conformity with the
guidelines and the consensus statement have yet to be achieved but
has the potential to be increased. The data show the use of
non-oral drugs for treating an acute migraine attack was only 7% in
2012 and has decreased to below 4% in 2023, when the potential need
for such drugs is anticipated to be a more substantial percentage
of migraineurs based on epidemiological data.
TNX-102 SL has not been approved for any indication.
1EVERSANA primary physician research, May 2024;
commissioned by Tonix
2Lassiter G., et al. Am J Transplantation. 2023.
https://doi.org/10.1016/j.ajt.2023.03.022
3Miura S., et al. Am J Transplantation. 2023.
https://doi.org/10.1016/j.ajt.2023.03.025
4Anand RP., et al. Nature. 2023:622, 393–401.
https://doi.org/10.1038/s41586-023-06594-4
5Deng R., et al. Mabs. 2011.
https://doi.org/10.4161/mabs.3.1.13799
6Tonix Pharmaceuticals – Data on File
7Revivicor 9-GE pigs:
GalKO.β4GalNT2KO.GHRKO.hCD46.hCD55.hTBM.hEPCR.hCD47.hHO-1
8 Revivicor 10-GE pigs:
GalKO.β4GalNT2KO.CMAHKO.GHRKO.hCD46.CD55.hTBM.hEPCR.hCD47.hHO-1.
9Noyce RS, et al. Viruses. 2023;15(2):356.
doi:10.3390/v15020356.
10Awasthi M., et al. Viruses. 2023;15(10):2131.
doi:10.3390/v15102131.
11Awasthi M., et al. Vaccines (Basel).
2023;11(11):1682. doi:10.3390/vaccines11111682.
Recent Highlights –
Financial
As of June 30, 2024, Tonix had $4.2 million of cash and cash
equivalents, compared to $24.9 million as of December 31, 2023. Net
cash used in operations was approximately $30.5 million for the six
months ended June 30, 2024, compared to $56.3 million for the same
period in 2023.
Subsequent to the quarter ending June 30, 2024, Tonix received
net proceeds of approximately $3.5 million in a securities purchase
agreement with certain institutional and retail investors, and sold
0.8 million shares of common stock under the ATM Sales Agreement,
for net proceeds of approximately $0.4 million.
Second Quarter 2024 Financial Results
Net product revenue for the second quarter 2024
was approximately $2.2 million. Net product revenue consisted of
combined net sales of Zembrace® SymTouch® and Tosymra®, which were
acquired from Upsher-Smith Laboratories, LLC on June 30, 2023. Cost
of Sales for the second quarter 2024 was approximately $3.4
million, which included a write-down related to Tosymra and
Zembrace finished goods inventory of approximately $1.7 million
based on an assessment of inventory on hand and projected sales
prior to the respective expiration dates.
Research and development expenses for the second
quarter 2024 were $9.7 million, compared to $22.0 million for the
same period in 2023. This decrease is predominantly due to
decreased clinical, non-clinical and manufacturing expenses aligned
with the Company’s capital efficient strategy.
Selling, general and administrative expenses for
the second quarter 2024 were $7.5 million, compared to $7.0 million
for the same period in 2023. The increase was primarily due to
sales and marketing and the transition services expenses associated
with the Company’s recently acquired marketed products offset by a
decrease in financial reporting expenses.
Net loss available to common stockholders was
$78.8 million, or $19.28 per share, basic and diluted, for the
second quarter 2024, compared to net loss of $28.4 million, or
$49.23 per share, basic and diluted, for the same period in 2023.
Included in the net loss for the three months ended June 30, 2024,
are non-cash asset impairment charges totaling $58.9 million. The
basic and diluted weighted average common shares outstanding for
the second quarter 2024 was 4,085,132 compared to 576,047 shares
for the same period in 2023.
The impairment of the Tosymra and Zembrace
inventory, intangibles and goodwill was driven by our delayed
investment in the sales personnel required to drive growth in the
business as we are focusing our cash resources to further our
efforts to bring TNX-102 SL through the FDA approval process and to
market. However, we believe that the benefits and long-term value
proposition of the 2023 acquisition of Tosymra and Zembrace remain,
in that we now have the infrastructure to be ready to manufacture
and sell TNX-102 SL under an expedited timeline pending FDA
approval for which we expect an FDA decision in 2025.
Tonix Pharmaceuticals Holding
Corp.*
Tonix is a fully integrated biopharmaceutical
company focused on transforming therapies for pain management
and modernizing solutions for public health challenges. Tonix’s
development portfolio is focused on central nervous system (CNS)
disorders, and its priority is to submit a New Drug Application
(NDA) to the FDA in the second half of 2024 for TNX-102 SL, a
product candidate for which two statistically significant Phase 3
studies have been completed for the management of fibromyalgia. The
FDA has granted Fast Track designation to TNX-102 SL for the
management of fibromyalgia. TNX-102 SL is also being developed to
treat acute stress reaction. Tonix’s CNS portfolio includes
TNX-1300 (cocaine esterase), a biologic designed to treat cocaine
intoxication that has Breakthrough Therapy designation. Tonix’s
immunology development portfolio consists of biologics to address
organ transplant rejection, autoimmunity and cancer, including
TNX-1500, which is a humanized monoclonal antibody targeting
CD40-ligand (CD40L or CD154) being developed for the prevention of
allograft rejection and for the treatment of autoimmune diseases.
Tonix also has product candidates in development in the areas of
rare disease and infectious disease. Tonix recently announced the
U.S. Department of Defense (DoD), Defense Threat Reduction Agency
(DTRA) awarded it a contract for up to $34 million over five years
in an Other Transaction Agreement (OTA) to develop TNX-4200, small
molecule broad-spectrum antiviral agents targeting CD45 for the
prevention or treatment of infections to improve the medical
readiness of military personnel in biological threat environments.
Tonix owns and operates a state-of-the art infectious disease
research facility in Frederick, MD, instrumental in progressing
this development. Tonix Medicines, our commercial subsidiary,
markets Zembrace® SymTouch® (sumatriptan injection) 3 mg and
Tosymra® (sumatriptan nasal spray) 10 mg for the treatment of acute
migraine with or without aura in adults.
*Tonix’s product development candidates are
investigational new drugs or biologics and have not been approved
for any indication.
Zembrace SymTouch and Tosymra are registered
trademarks of Tonix Medicines. All other marks are property of
their respective owners.
This press release and further information about
Tonix can be found at www.tonixpharma.com.
Forward Looking Statements
Certain statements in this press release are
forward-looking within the meaning of the Private Securities
Litigation Reform Act of 1995. These statements may be identified
by the use of forward-looking words such as “anticipate,”
“believe,” “forecast,” “estimate,” “expect,” and “intend,” among
others. These forward-looking statements are based on Tonix's
current expectations and actual results could differ materially.
There are a number of factors that could cause actual events to
differ materially from those indicated by such forward-looking
statements. These factors include, but are not limited to, risks
related to the failure to obtain FDA clearances or approvals and
noncompliance with FDA regulations; risks related to the failure to
successfully market any of our products; risks related to the
timing and progress of clinical development of our product
candidates; our need for additional financing; uncertainties of
patent protection and litigation; uncertainties of government or
third party payor reimbursement; limited research and development
efforts and dependence upon third parties; and substantial
competition. As with any pharmaceutical under development, there
are significant risks in the development, regulatory approval and
commercialization of new products. Tonix does not undertake an
obligation to update or revise any forward-looking statement.
Investors should read the risk factors set forth in the Annual
Report on Form 10-K for the year ended December 31, 2023, as filed
with the Securities and Exchange Commission (the “SEC”) on April 1,
2024, and periodic reports filed with the SEC on or after the date
thereof. All of Tonix's forward-looking statements are expressly
qualified by all such risk factors and other cautionary statements.
The information set forth herein speaks only as of the date
thereof.
|
TONIX PHARMACEUTICALS HOLDING
CORP. CONDENSED CONSOLIDATED STATEMENTS OF
OPERATIONS(In Thousands, Except Share and Per
Share Amounts)(unaudited) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months EndedJune 30, |
|
|
Six Months EndedJune 30, |
|
|
|
2024 |
|
|
2023 |
|
|
2024 |
|
|
2023 |
|
REVENUE: |
|
|
|
|
|
|
|
|
|
|
|
|
Product revenue, net |
|
$ |
2,208 |
|
|
$ |
— |
|
|
$ |
4,690 |
|
|
$ |
— |
|
COSTS AND EXPENSES: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of revenue |
|
$ |
3,367 |
|
|
$ |
— |
|
|
$ |
5,027 |
|
|
$ |
— |
|
Research and development |
|
|
9,698 |
|
|
|
21,976 |
|
|
|
22,561 |
|
|
|
48,487 |
|
Selling, general and
administrative |
|
|
7,502 |
|
|
|
7,026 |
|
|
|
16,812 |
|
|
|
14,417 |
|
Asset impairment charges |
|
|
58,957 |
|
|
|
— |
|
|
|
58,957 |
|
|
|
— |
|
|
|
|
79,524 |
|
|
|
29,002 |
|
|
|
103,357 |
|
|
|
62,904 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating loss |
|
|
(77,316 |
) |
|
|
(29,002 |
) |
|
|
(98,667 |
) |
|
|
(62,904 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Loss) gain on change in fair
value of warrant liabilities |
|
|
(855 |
) |
|
|
— |
|
|
|
6,150 |
|
|
|
— |
|
Other (expense) income,
net |
|
|
(605 |
) |
|
|
646 |
|
|
|
(1,198 |
) |
|
|
1,543 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss available to common
stockholders |
|
$ |
(78,776 |
) |
|
$ |
(28,356 |
) |
|
$ |
(93,715 |
) |
|
$ |
(61,361 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss per common share,
basic and diluted |
|
$ |
(19.28 |
) |
|
$ |
(49.23 |
) |
|
$ |
(27.33 |
) |
|
$ |
(107.45 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average common shares
outstanding, basic and diluted |
|
|
4,085,132 |
|
|
|
576,047 |
|
|
|
3,428,906 |
|
|
|
571,089 |
|
See the accompanying notes to the condensed
consolidated financial statements
|
TONIX PHARMACEUTICALS HOLDING
CORP.CONDENSED CONSOLIDATED BALANCE
SHEETS (In
Thousands)(Unaudited) |
|
|
June 30, 2024 |
|
December 31, 20231 |
Assets |
|
|
|
|
|
Cash and cash equivalents |
$ |
4,156 |
|
|
$ |
24,948 |
|
Accounts Receivable, net |
3,339 |
|
|
- |
|
Inventory |
9,457 |
|
|
13,639 |
|
Prepaid expenses and
other |
8,335 |
|
|
9,181 |
|
Total current assets |
25,287 |
|
|
47,768 |
|
Other non-current assets |
45,020 |
|
|
106,689 |
|
Total assets |
$ |
70,307 |
|
|
$ |
154,457 |
|
|
|
|
|
|
|
Liabilities and
stockholders' equity |
|
|
|
|
|
Total liabilities |
$ |
28,204 |
|
|
$ |
48,932 |
|
Stockholders' equity |
42,103 |
|
|
105,525 |
|
Total liabilities and
stockholders' equity |
$ |
70,307 |
|
|
$ |
154,457 |
|
1The condensed consolidated balance sheet for the year ended
December 31, 2023 has been derived from the audited financial
statements but do not include all of the information and footnotes
required by accounting principles generally accepted in the United
States for complete financial statements.
Investor Contact
Jessica MorrisTonix
Pharmaceuticalsinvestor.relations@tonixpharma.com (862)
904-8182
Peter VozzoICR Westwickepeter.vozzo@westwicke.com (443)
213-0505
Media Contact
Lisa
DeScenzaLaVoieHealthScienceldescenza@lavoiehealthscience.com(617)
351-0243
Tonix Pharmaceuticals (NASDAQ:TNXP)
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