Tonix Pharmaceuticals (NASDAQ: TNXP) this morning released the pricing of an underwritten public offering of 1,800,000 shares of its common stock at a public offering price of $4.45 per share, for estimated gross proceeds of $8,010,000. The offering is expected to close on or about April 4, 2017, subject to customary closing conditions. Tonix intends to use the net proceeds for many projects, including the further development of pipeline programs, working capital and other general purposes, and to support the continued development of TNX-102 SL. Yesterday, Tonix said that Seth Lederman, M.D., president and chief executive officer will provide a corporate update and an overview of the company’s PTSD clinical program at The MicroCap Conference on April 4, 2017, in New York, NY. TNX-102 SL was recently granted Breakthrough Therapy designation by the FDA for the treatment of PTSD, and is currently being evaluated in a phase 3 clinical study for military-related PTSD, called the “HONOR” study which has initiated enrollment. The interim analysis of the HONOR study is expected in the first half of 2018 and topline results are expected in the second half of 2018.
About Tonix Pharmaceuticals Holding Corp.
Tonix is developing innovative pharmaceutical products to address public health challenges. TNX-102 SL is in phase 3 development and has been granted Breakthrough Therapy designation by the FDA for the treatment of posttraumatic stress disorder (PTSD). PTSD is a serious condition characterized by chronic disability, inadequate treatment options especially for military-related PTSD, and an overall high utilization of healthcare services that contributes to significant economic burdens. The Protectic™ protective eutectic and Angstro-Technology™ formulation are essential elements of the proprietary TNX-102 SL composition for which a Notice of Allowance has been issued by the U.S. Patent and Trademark Office. Other development efforts include TNX-601 (tianeptine oxalate), a clinical candidate at Pre-IND (Investigational New Drug) application stage, designed for daytime use for the treatment of PTSD, and TNX-801, a potential smallpox-preventing vaccine based on a live synthetic version of horsepox virus. For more information visit www.tonixpharma.com.
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