Tonix Pharmaceuticals Intends To Offer And Sell Shares Of Its Common Stock (Or Pre-funded Warrants In Lieu Thereof); No Terms Disclosed
Portfolio Pulse from Benzinga Newsdesk
Tonix Pharmaceuticals plans to offer and sell shares of its common stock or pre-funded warrants. The proceeds will be used for working capital, general corporate purposes, preparation of a new drug application for Tonmya™, and debt repayment.
June 11, 2024 | 9:20 pm
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Tonix Pharmaceuticals is planning to offer and sell shares of its common stock or pre-funded warrants. The proceeds will be used for working capital, general corporate purposes, preparation of a new drug application for Tonmya™, and debt repayment.
The announcement of a share offering typically leads to a short-term decline in stock price due to dilution concerns. However, the use of proceeds for drug development and debt repayment could be seen as positive in the long term.
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