Tonix Prescription drugs Announces 1-for-32 Reverse Stock Split
CHATHAM, N.J., Could 16, 2022 (Globe NEWSWIRE) — Tonix Pharmaceuticals Holding Corp. (Nasdaq: TNXP) (Tonix or the Company), a scientific-stage biopharmaceutical company, nowadays introduced that it will impact a 1-for-32 reverse inventory split of its superb typical stock. This will be effective for investing uses as of the graduation of trading on Could 17, 2022.
The reverse stock split was formerly accredited by the Board of Directors of Tonix in accordance with Nevada law, underneath which no stockholder acceptance is necessary, and is supposed to raise the per share buying and selling price tag of Tonix’s popular stock to fulfill the $1.00 minimum bid price tag necessity for ongoing listing on The NASDAQ Cash Current market (Rule 5550(a)(1)). Tonix’s prevalent inventory will carry on to trade on the NASDAQ Funds Sector below the symbol “TNXP” and underneath a new CUSIP range, 890260862. As a outcome of the reverse inventory split, each and every thirty-two pre-break up shares of widespread inventory outstanding will grow to be one share of typical stock. The reverse stock split will also proportionately lessen the number of shares of authorized common stock from 1,600 million to 50 million shares. The reverse split will also use to frequent stock issuable upon the training of Tonix’s remarkable warrants and inventory options.
Tonix’s transfer agent, VStock Transfer LLC, which is also acting as the exchange agent for the reverse split, will offer guidelines to shareholders concerning the method for exchanging share certificates. Any fractional shares of frequent stock ensuing from the reverse stock split will be rounded up to the closest entire article-split share and no shareholders will receive cash in lieu of fractional shares.
About Tonix Pharmaceuticals Keeping Corp.1
Tonix is a medical-stage biopharmaceutical firm focused on discovering, licensing, acquiring and building therapeutics to treat and reduce human ailment and relieve suffering. Tonix’s portfolio is composed of central anxious program (CNS), rare ailment, immunology and infectious disorder products candidates. Tonix’s CNS portfolio features both of those modest molecules and biologics to deal with pain, neurologic, psychiatric and dependancy problems. Tonix’s lead CNS prospect, TNX-102 SL (cyclobenzaprine HCl sublingual pill), is in mid-Stage 3 enhancement for the management of fibromyalgia with a new Phase 3 examine introduced in the second quarter of 2022 and interim knowledge envisioned in the first quarter of 2023. TNX-102 SL is also becoming created to take care of Extensive COVID, a chronic submit-acute COVID-19 ailment. Tonix expects to initiate a Phase 2 review in Very long COVID in the second quarter of 2022. TNX-1300 (cocaine esterase) is a biologic built to take care of cocaine intoxication that is anticipated to commence a Period 2 trial in the 2nd quarter of 2022. TNX-1300 has been granted Breakthrough Therapy Designation by the Fda. Lastly, TNX-1900 (intranasal potentiated oxytocin), a modest molecule in growth for serious migraine, is expected to enter the clinic with a Period 2 study in the second fifty percent of 2022. Tonix’s unusual disorder portfolio contains TNX-2900 (intranasal potentiated oxytocin) for the therapy of Prader-Willi syndrome. TNX-2900 has been granted Orphan-Drug Designation by the Food and drug administration. Tonix’s immunology portfolio consists of biologics to address organ transplant rejection, autoimmunity and cancer, like TNX-1500 which is a humanized monoclonal antibody focusing on CD40-ligand being developed for the prevention of allograft and xenograft rejection and for the cure of autoimmune ailments. A Phase 1 analyze of TNX-1500 is envisioned to be initiated in the second fifty percent of 2022. Tonix’s infectious ailment pipeline is made up of a vaccine in growth to reduce smallpox and monkeypox identified as TNX-801, subsequent-technology vaccines to avert COVID-19, and a platform to make entirely human monoclonal antibodies to treat COVID-19. Tonix’s guide vaccine candidates for COVID-19 are TNX-1840 and TNX-1850, which are stay virus vaccines centered on Tonix’s recombinant pox dwell virus vector vaccine system.
1All of Tonix’s products candidates are investigational new medicine or biologics and have not been accepted for any sign.
This push release and even further information and facts about Tonix can be discovered at www.tonixpharma.com.
Forward Seeking Statements
Selected statements in this press launch are forward-seeking within just the indicating of the Personal Securities Litigation Reform Act of 1995. These statements may perhaps be discovered by the use of ahead-looking phrases these types of as “anticipate,” “believe,” “forecast,” “estimate,” “expect,” and “intend,” amid other individuals. These forward-on the lookout statements are based mostly on Tonix’s existing anticipations and real effects could vary materially. There are a number of aspects that could bring about precise activities to differ materially from people indicated by such ahead-searching statements. These things contain, but are not minimal to, hazards related to the reverse stock split, failure to attain Fda clearances or approvals and noncompliance with Fda polices delays and uncertainties triggered by the global COVID-19 pandemic challenges related to the timing and development of scientific enhancement of our item candidates our require for supplemental financing uncertainties of patent protection and litigation uncertainties of government or third bash payor reimbursement limited study and progress efforts and dependence upon third functions and substantial opposition. As with any pharmaceutical under growth, there are considerable pitfalls in the progress, regulatory acceptance and commercialization of new solutions. Tonix does not undertake an obligation to update or revise any forward-looking statement. Investors need to read through the risk variables set forth in the Yearly Report on Form 10-K for the year ended December 31, 2021, as filed with the Securities and Trade Commission (the “SEC”) on March 14, 2022, and periodic experiences filed with the SEC on or following the date thereof. All of Tonix’s ahead-wanting statements are expressly capable by all these types of chance components and other cautionary statements. The details established forth herein speaks only as of the day thereof.
Jessica Morris (company)
Tonix Prescribed drugs
Olipriya Das, Ph.D. (media)
Peter Vozzo (buyers)