Tonix Pharmaceuticals shares are trading lower after the company announced a registered direct offering of up to $144 million. Also, the company announced topline results for its Phase 3 RESILIENT study evaluating TNX-102 SL for the management of fibromyalgia, which could also be impacting the stock.
Portfolio Pulse from Benzinga Newsdesk
Tonix Pharmaceuticals' stock is trading lower following the announcement of a registered direct offering of up to $144 million. Additionally, the company released topline results from its Phase 3 RESILIENT study for TNX-102 SL, a treatment for fibromyalgia, which may also be influencing the stock's performance.
December 20, 2023 | 5:43 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Tonix Pharmaceuticals' stock price is likely to face downward pressure due to the announcement of a significant direct offering and the release of topline results from a key Phase 3 study.
The announcement of a large registered direct offering typically dilutes existing shareholders, leading to a negative short-term impact on the stock price. Furthermore, the release of topline results from the Phase 3 study, depending on whether they met expectations, could also affect investor sentiment and the stock's performance.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100