Why Tonix Pharmaceuticals Stock Is Getting Obliterated
Portfolio Pulse from Henry Khederian
Tonix Pharmaceuticals Holding Corp (NASDAQ:TNXP) has priced its public offering of 7 million shares at $1 per share, leading to a 36.5% drop in its stock price. The gross proceeds from the offering will be approximately $7 million, which the company plans to use for working capital, corporate purposes, facility expansion, and product acquisition or licensing.
July 28, 2023 | 5:02 pm
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Tonix Pharmaceuticals' stock price has dropped significantly due to the pricing of its public offering. The company plans to use the proceeds for various corporate purposes, which could potentially stabilize the stock in the future.
The company's decision to price its public offering at $1 per share has led to a significant drop in its stock price. However, the proceeds from the offering will be used for corporate purposes, which could potentially stabilize the stock in the future.
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