Tonix Pharmaceuticals shares are trading lower after the company announced the pricing of a $4.5 million public offering of 9 million shares and warrants at $0.50 per share.
Portfolio Pulse from Benzinga Newsdesk
Tonix Pharmaceuticals announced the pricing of a $4.5 million public offering of 9 million shares and warrants at $0.50 per share, causing its shares to trade lower.
September 29, 2023 | 2:41 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Tonix Pharmaceuticals' stock price is trading lower after the company announced a $4.5 million public offering at $0.50 per share.
The company's decision to issue more shares dilutes the value of existing shares, leading to a decrease in the stock price. This is a common reaction in the market when a company announces a public offering, especially at a price lower than the current trading price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100