Tonix Pharmaceuticals Holding Corp.
TNXP evidence brief
What we can confirm
- BioSniper Score:
- 7.3 / 10
- Market Cap:
- $203.6M
- Next Catalyst:
- Patent_Expiry · Mar 14, 2034
What it means
What to watch
Prepared research question
What matters most for TNXP—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · TNXP
Tonix Pharmaceuticals Holding Corp. (TNXP) is a fully integrated commercial biotechnology company focused on developing and commercializing treatments for fibromyalgia, central nervous system disorders, infectious diseases, and rare diseases.
Key risk: Ongoing net losses
BioSniper Score
Based on 3 of 6 signals
Limited data coverage
Financial data as of Jun 30, 2026.
Tracking 5 clinical trials · 1 catalyst for Tonix Pharmaceuticals Holding Corp..
Tonix Pharmaceuticals Holding Corp. (TNXP) is a fully integrated commercial biotechnology company focused on developing and commercializing treatments for fibromyalgia, central nervous system disorders, infectious diseases, and rare diseases.
- Cash & equivalents of $176.2M as of 2026-06-30 [sec].
- Total revenue of $13.5M and net income of -$40.6M as of 2026-06-30 [sec].
- TONMYA (cyclobenzaprine HCl sublingual tablets) is FDA-approved for fibromyalgia and launched in November 2025 [news].
- TNX-1300 (cocaine esterase) has FDA Breakthrough Therapy designation and is in Phase 2 for cocaine intoxication [sec_mda · as of 2026-05-11].
- TNX-4800 (mAb 2217LS) for Lyme disease prevention showed Phase 1 data supporting approximately four months of protection [news · published 2026-03-31].
What works
- TONMYA is the first new FDA-approved medicine for fibromyalgia in more than 15 years, providing a potential commercial growth driver [news].
- TNX-1300 has received FDA Breakthrough Therapy designation, which may expedite development and review [sec_mda · as of 2026-05-11].
- The company holds a $34 million contract from the U.S. DoD's DTRA for the TNX-4200 antiviral program, providing non-dilutive funding [sec_mda · as of 2026-08-10].
- Cash runway is expected to fund operations into the first quarter of 2027, based on $190.1M cash as of September 30, 2025 [news].
What to weigh
- The company reported a net loss of $40.6M for the period ending 2026-06-30, indicating ongoing operating deficits [sec].
- The Phase 2 study for TNX-1300 was terminated due to recruitment challenges, and a new Phase 2 design requires FDA input [sec_mda · as of 2026-05-11].
- GMP suites were decommissioned in 2024 and may not be reactivated until 2028, limiting manufacturing flexibility [sec_mda · as of 2026-08-10].
- The company faces multiple risks including need for additional financing, FDA approval uncertainties, and patent litigation [sec_mda · as of 2026-08-10].
From the filings
Quoted directly from source documents.
TONMYA is the first new FDA-approved medicine for fibromyalgia in more than 15 years.
“Tonmya is the first new FDA-approved medicine for fibromyalgia in more than 15 years”
News · November 10, 2025
TNX-1300 has Breakthrough Therapy designation from the FDA.
“TNX-1300 has been granted Breakthrough Therapy designation by the FDA”
SEC MD&A · May 11, 2026
Cash and cash equivalents were $190.1 million as of September 30, 2025.
“Cash and cash equivalents of $190.1 million reported as of September 30, 2025”
News · November 10, 2025
TNX-4800 Phase 1 data demonstrated safety and pharmacokinetics supportive of approximately four months protection.
“Phase 1 data of TNX-4800 (mAb 2217LS) For Preventing Lyme Disease Demonstrated Safety, Tolerability, And Pharmacokinetics Supportive Of Approximately Four Months Protection”
News · March 31, 2026
Catalyst timeline
- 2034-03-14 · Patent_Expiry · CYCLOBENZAPRINE HYDROCHLORIDE — Patent expiry for NDA219428 (cyclobenzaprine hydrochloride) may open market to generic competition.
Risks & what to watch (4)›
Key risks
- Ongoing net losses — Net income of -$40.6M as of 2026-06-30 indicates continued operating losses [sec].
- Clinical trial recruitment challenges — Phase 2 study for TNX-1300 terminated due to recruitment difficulties; new design pending FDA input [sec_mda · as of 2026-05-11].
- Manufacturing facility decommissioned — GMP suites decommissioned in 2024, not reactivatable until 2028 or emergency [sec_mda · as of 2026-08-10].
- Dependence on additional financing — Company acknowledges need for additional financing as a key risk factor [sec_mda · as of 2026-08-10].
What to watch
- Commercial ramp of TONMYA for fibromyalgia following its November 2025 launch [news].
- Initiation of Phase 2 study for TNX-4800 (Lyme disease prevention) expected in first quarter of 2027 [sec_mda · as of 2026-08-10].
- FDA meeting in 2026 to inform next Phase 2 study design for TNX-1300 [sec_mda · as of 2026-05-11].
- Initiation of Phase 2 kidney transplant study for TNX-1500 expected in second half of 2026 [sec_mda · as of 2026-08-10].
Sources: Catalysts · News · SEC MD&A · Generated October 7, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 3 of 6 signals · derived from public data
Pipeline inputs are unavailable for this score. It uses only the available signals shown below.
Cash runway data unavailable
D/E 0.14 · 0% dilution
No tracked pipeline phase
No tracked pipeline candidates
1 upcoming, next in ~2708d
5 buys · 0 sells (180d)
Catalysts
Regulatory
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
81
Total value held
$66.8M
| Holder | Shares | Value |
|---|---|---|
| blackrock, inc. | 968,177 | $13.3M |
| vanguard capital management llc | 518,650 | $7.1M |
| citadel advisors llc | 468,712 | $6.4M |
| jones hill capital lp | 452,116 | $6.2M |
| geode capital management, llc | 313,291 | $4.3M |
| balyasny asset management l.p. | 313,082 | $4.3M |
| ubs group ag | 231,678 | $3.2M |
| state street corp | 230,607 | $3.2M |
| millennium management llc | 219,673 | $3.0M |
| aqr capital management llc | 161,208 | $2.2M |
Showing top 10 of 81 institutional holders of Tonix Pharmaceuticals Holding Corp.. Open the full 13F history after sign-in.
Short Interest
as of Apr 20, 2026- % of float
- 14.6%
- Days to cover
- 4.6
- Shares short
- 2,075,650
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
TNXP short interestGovernance
Frequently asked questions
What is the AI investment thesis for Tonix Pharmaceuticals Holding Corp.?
Tonix Pharmaceuticals Holding Corp. (TNXP) is a fully integrated commercial biotechnology company focused on developing and commercializing treatments for fibromyalgia, central nervous system disorders, infectious diseases, and rare diseases.
What is Tonix Pharmaceuticals Holding Corp.'s next catalyst?
Tonix Pharmaceuticals Holding Corp.'s next tracked catalyst is a Patent_Expiry event — "Patent_Expiry: NDA219428" — expected March 14, 2034.
Who is the CEO of Tonix Pharmaceuticals Holding Corp.?
Dr. Seth Lederman M.D. is the chief executive officer of Tonix Pharmaceuticals Holding Corp. (TNXP).
Where is Tonix Pharmaceuticals Holding Corp. headquartered?
Tonix Pharmaceuticals Holding Corp. (TNXP) is headquartered in Berkeley Heights, NJ, United States.
What therapeutic areas does Tonix Pharmaceuticals Holding Corp. focus on?
Tonix Pharmaceuticals Holding Corp. develops therapies across Oncology, Neurology, Pain, Psychiatry.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.