NEW YORK, April 04, 2017 (GLOBE NEWSWIRE) -- Tonix Pharmaceuticals Holding Corp. (Nasdaq:TNXP), a company that is developing innovative pharmaceutical products to address public health challenges, today announced the closing of its previously announced underwritten public offering of 1,800,000 shares of its common stock at an offering price of $4.45 per share of common stock. Gross proceeds to Tonix from this offering are $8,010,000 before deducting underwriting discounts and commissions and other estimated offering expenses payable by Tonix. Tonix intends to use the net proceeds from this offering to support the continued development of TNX-102 SL for the treatment of posttraumatic stress disorder (PTSD), including the HONOR study in military-related PTSD, to further develop other pipeline programs, for working capital and other general corporate purposes, and possibly acquisitions of other companies, products or technologies, though no such acquisitions are currently contemplated.
Aegis Capital Corp. acted as the sole book-running manager for the offering and Dawson James Securities, Inc. acted as a co-manager.
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 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.