Tonix Pharmaceuticals Holding shares are trading lower after the company announced the pricing of an approximately $4 million public offering of 7,060,918 shares at $0.57 per share.
Portfolio Pulse from Benzinga Newsdesk
Tonix Pharmaceuticals Holding shares are trading lower after the company announced the pricing of an approximately $4 million public offering of 7,060,918 shares at $0.57 per share.
June 27, 2024 | 12:38 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Tonix Pharmaceuticals Holding shares are trading lower after the company announced the pricing of an approximately $4 million public offering of 7,060,918 shares at $0.57 per share.
The announcement of a public offering typically leads to a dilution of existing shares, which can negatively impact the stock price in the short term. The offering price of $0.57 per share is likely perceived as low, contributing to the downward pressure on the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100