Tonix Pharmaceuticals Reveals Proposed Public Offering; No Terms Disclosed
Portfolio Pulse from Benzinga Newsdesk
Tonix Pharmaceuticals has announced a proposed public offering. The company plans to use the net proceeds for working capital, general corporate purposes, building out manufacturing and R&D facilities, and acquiring or licensing approved products and products in development.
September 28, 2023 | 8:03 pm
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Tonix Pharmaceuticals' proposed public offering could dilute existing shares, potentially leading to a short-term decrease in stock price. However, the intended use of funds could bolster the company's long-term prospects.
Public offerings often lead to share dilution, which can decrease the stock price in the short term. However, the funds raised will be used for potentially value-adding activities such as R&D and product acquisition, which could improve the company's long-term prospects.
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