Tonix Pharmaceuticals (NASDAQ:TNXP) Discloses Preliminary Financial Results for Quarter Ended September 30, 2024

Tonix Pharmaceuticals Holding Corp. has released selected preliminary operating results for the quarter that concluded on September 30, 2024, along with specific preliminary financial condition details as of the aforementioned date. According to the announcement made, the Company had a total of approximately $28.2 million in cash and cash equivalents as of September 30, 2024, with 178,584,225 shares of common stock outstanding as of October 28, 2024.

For the quarter ended September 30, 2024, Tonix Pharmaceuticals reported a net cash usage in operating activities of about $18.8 million, a decrease from $23.4 million reported for the same period in 2023. Additionally, the company’s capital expenditures for the quarter ended September 30, 2024, were recorded at approximately $0 compared to $1.9 million in the prior year.

The net operating loss for the quarter ended September 30, 2024, was approximately $14.2 million, which shows an improvement compared to $28.0 million in the corresponding period of 2023. Furthermore, the net revenue generated from the sale of marketed products for the quarter ended September 30, 2024, amounted to around $2.8 million, down from $4.0 million reported for the same period in the previous year.

Despite the resources available as of September 30, 2024, including the gross proceeds of about $5.8 million from an equity offering and sales under its at-the-market facility during the fourth quarter of 2024, Tonix Pharmaceuticals anticipates that these funds will not be sufficient to meet operating and capital expenditure requirements through the first quarter of 2025.

It is important to note that the financial information provided is deemed preliminary for the quarter ended September 30, 2024, and is subject to finalization. This unaudited data was prepared by the Company’s management based on estimations, various assumptions, and available information. The figures are subject to potential changes pending the closure of the quarter and year-end procedures, finalization of financial statements, and other operational processes.

Tonix Pharmaceuticals plans to file its Quarterly Report on Form 10-Q, including the financial statements for the quarter ended September 30, 2024, around November 14, 2024. The Company urges caution in relying on the preliminary financial data and advises investors not to draw definitive conclusions from this information.

Tonix Pharmaceuticals also included forward-looking statements in the filing, indicating predictions about the Company’s financial position. These projections are based on the current industry expectations, management beliefs, and assumptions, and they carry inherent risks and uncertainties that could cause actual results to differ materially from the forecasts. Prospective investors are advised to exercise judiciousness in placing reliance on such forward-looking statements, which are valid only as of the date of the disclosure. The Company commits to updating the public on any significant new information or events going forward.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Tonix Pharmaceuticals’s 8K filing here.

About Tonix Pharmaceuticals

Tonix Pharmaceuticals Holding Corp., a biopharmaceutical company, focuses on developing, discovering, commercializing, and licensing therapeutics to treat and prevent human disease and alleviate suffering. It markets Zembrace SymTouch and Tosymra for the treatment of acute migraine with or without aura in adults.