Shares of Tonix Pharmaceuticals Holding Corp (NASDAQ:TNXP) have rallied 30% over the past five sessions, though are marginally lower Thursday afternoon, as investors anticipate a key catalyst for the company.
What To Know: The biotechnology firm is awaiting a decision from the U.S. Food and Drug Administration (FDA) on its lead drug candidate, TNX-102 SL, for the treatment of fibromyalgia.
The Prescription Drug User Fee Act goal date is set for tomorrow, August 15. An approval would represent the first new medication for the chronic pain condition in over 16 years, and Tonix anticipates a potential market launch in the fourth quarter of this year.
This forward-looking optimism has largely overshadowed the company’s mixed second-quarter financial results. While Tonix reported sales of $2.0 million, missing analyst forecasts of $2.6 million, it posted a smaller-than-expected net loss of $3.86 per share, beating the consensus estimate of a $10.73 loss per share. Investors appear to be prioritizing the potential of the upcoming FDA decision over the recent revenue miss.
Recent confidence is further supported by the company’s solid financial footing. Tonix reported $125.3 million in cash and cash equivalents, which it expects will fund operations into the third quarter of 2026.
Tonix’s recent inclusion in the Russell 2000 and Russell 3000 indexes also increases its visibility to institutional investors. With the decision imminent, all eyes are on Friday’s FDA announcement.
Price Action: According to data from Benzinga Pro, TNXP shares are trading marginally lower Thursday afternoon at $60.60. The stock has a 52-week high of $130.00 and a 52-week low of $6.76.
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How To Buy TNXP Stock
By now you’re likely curious about how to participate in the market for Tonix Pharmaceuticals (NASDAQ:TNXP) – be it to purchase shares, or even attempt to bet against the company.
Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy “fractional shares,” which allows you to own portions of stock without buying an entire share.
If you’re looking to bet against a company, the process is more complex. You’ll need access to an options trading platform, or a broker who will allow you to “go short” a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.
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