This Biopharma Stock Is Trading 23% Higher In Pre-Market After Wrapping Up $4M Public Offering
Portfolio Pulse from Benzinga Neuro
Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) saw its stock price rise by 23% in pre-market trading after completing a $4 million public offering. The company plans to use the proceeds for working capital, general corporate purposes, and to prepare a new drug application for its Tonmya product candidate.
June 14, 2024 | 10:15 am
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Tonix Pharmaceuticals completed a $4 million public offering, leading to a 23% increase in pre-market trading. The funds will be used for working capital, corporate purposes, and a new drug application for Tonmya.
The successful public offering and the significant pre-market price increase indicate strong investor confidence. The use of proceeds for critical business operations and drug development further supports a positive short-term outlook.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100