One-glance verdict
Not enough data
Fair value unavailable
Not enough cash-flow history to value this one with our method.
Fundamentals snapshot
Tonix Pharmaceuticals Holding Corp.
TNXP · NMS · Healthcare · Biotechnology
Current price
$4.10
52-week range
$4.00 - $20.56
Market cap
$79.67M
Balance sheet
Healthy
-1,378.55x Concerning
Net cash $161.54M. Interest coverage shows how many times profit covers the interest bill.
What stands out
1 Reward
2 Risks
1 rewards · 2 risks
- Reward Revenue grew 228.4% last year.
- Risk Return on equity was -84.1% last year — the company lost money on shareholders' equity.
- Risk Insider ownership is only 0.2% (peer median: 5.0%).
What this company does
Tonix Pharmaceuticals Holding Corp.
Tonix Pharmaceuticals Holding Corp. is a company that develops medicines to treat conditions like pain, mental health issues, and diseases affecting the immune system. Their main source of money comes from creating and selling these new drugs once they are approved by regulators. This matters because successful drug development can lead to significant revenue if their treatments help patients.
How the company got here
Tonix Pharmaceuticals Holding Corp. was founded in 2007 with the goal of developing new treatments for various medical conditions. The company has focused on building a pipeline of potential therapies across several areas, including central nervous system disorders, immunology, infectious diseases, and rare diseases. Over the years, Tonix has advanced several drug candidates through different stages of development, aiming to address unmet medical needs in these therapeutic areas. The company's journey has involved strategic research and development efforts to bring innovative medicines to market.
What it actually does
Tonix Pharmaceuticals is a biopharmaceutical company that researches, develops, and plans to commercialize treatments for a range of health issues. They are working on medicines for conditions affecting the brain and nervous system, as well as for immune system disorders, infectious diseases, and rare genetic conditions. The company's approach involves creating new drug formulations and exploring novel therapeutic targets to improve patient outcomes. Tonix aims to bring these potential treatments through clinical trials and regulatory approval to make them available to patients.
Central Nervous System (CNS) Disorders
This part of Tonix's business focuses on developing treatments for conditions that affect the brain and nervous system. They have products like TONMYA, a sublingual tablet (dissolves under the tongue) for fibromyalgia, a condition causing widespread muscle pain and fatigue. They also offer Zembrace SymTouch and Tosymra, which are treatments for acute migraine headaches. Additionally, Tonix is developing TNX-102 SL, another sublingual tablet, for major depressive disorder and acute stress reactions, aiming to provide relief for these challenging mental health conditions.
Immunology and Immuno-Oncology
In this area, Tonix is working on therapies that involve the immune system, either to boost it to fight diseases like cancer or to manage it in conditions like transplant rejection. They are developing TNX-1500, a type of antibody designed to help prevent the body from rejecting a new kidney after a transplant and to treat autoimmune diseases where the immune system mistakenly attacks the body. Another focus is TNX-1700, a protein-based therapy being investigated for the treatment of certain cancers, including gastric and colorectal cancers.
Infectious Diseases
Tonix is developing vaccines and antiviral agents to prevent and treat infectious diseases. They have TNX-801, a live horsepox vaccine designed as a potential preventative measure against smallpox and mpox (formerly monkeypox). They are also working on TNX-1800 and TNX-1850, which are modified horsepox vaccines aimed at preventing COVID-19. Furthermore, TNX-4200 is a small molecule antiviral agent targeting a specific part of cells to treat or prevent various viral infections.
Rare Diseases
This segment of Tonix's work is dedicated to finding treatments for rare medical conditions that affect a small number of people. One of their developments is TNX-2900, an intranasal spray containing oxytocin, a hormone, which is being studied for its potential to treat Prader-Willi syndrome, a complex genetic disorder. They are also exploring TNX-1900, another intranasal oxytocin formulation, for conditions such as binge eating disorder, obesity in adolescents, and bone health issues in children with autism.
What management is betting on now
Management at Tonix Pharmaceuticals is focused on advancing their diverse pipeline of drug candidates through clinical development and towards potential market approval. Key priorities include progressing their treatments for central nervous system disorders, such as major depressive disorder and fibromyalgia, and their innovative approaches to infectious diseases, including vaccines for smallpox, mpox, and COVID-19. They are also investing in their immunology programs, particularly those aimed at preventing transplant rejection and treating autoimmune conditions, as well as their rare disease therapies. The company's strategy hinges on successfully navigating the complex and lengthy process of drug development and regulatory review to bring these potential new medicines to patients.
Price history
How the share price has moved
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Loading price history…
Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
FY2024 Q4
$-14.63M
FY2025 Q1
$-16.59M
FY2025 Q2
$-15.36M
FY2025 Q3
$-29.74M
FY2025 Q4
$-41.52M
FY2026 Q1
$-44.01M
FY2026 Q2
$-42.83M
FY2026 Q3
$-41.68M
Revenue
$17.23M
Net income
$-53.33M
Diluted EPS
-2.89
Operating cash flow
$-41.07M
Free cash flow
$-41.68M
Fetching…
Sources
Revenue
$13.54M
Net income
$-40.55M
Diluted EPS
-2.44
Operating cash flow
$-42.24M
Free cash flow
$-42.83M
Fetching…
Sources
Revenue
$6.88M
Net income
$-40.19M
Diluted EPS
-2.93
Operating cash flow
$-42.32M
Free cash flow
$-44.01M
Fetching…
Sources
Revenue
$5.39M
Net income
$-46.91M
Diluted EPS
-4.28
Operating cash flow
$-39.65M
Free cash flow
$-41.52M
Fetching…
Sources
Revenue
$3.29M
Net income
$-32.01M
Diluted EPS
-3.59
Operating cash flow
$-28.78M
Free cash flow
$-29.74M
Fetching…
Sources
Revenue
$2.00M
Net income
$-28.27M
Diluted EPS
-3.86
Operating cash flow
$-14.83M
Free cash flow
$-15.36M
Fetching…
Sources
Revenue
$2.43M
Net income
$-16.83M
Diluted EPS
-2.84
Operating cash flow
$-16.58M
Free cash flow
$-16.59M
Fetching…
Sources
Revenue
$2.58M
Net income
$-22.11M
Diluted EPS
-156.91
Operating cash flow
$-14.63M
Free cash flow
$-14.63M
Fetching…
Sources
Is it cheap or expensive?
Fair value — vs current price $4.10
We couldn't calculate a fair value right now.
Is it drowning in debt?
Healthy
Net cash $161.5M - more cash than debt. Interest coverage -1378.6x.
Net debt
$-161.54M
Interest coverage
-1,378.55x
Tonix Pharmaceuticals Holding Corp.'s profit covers its interest bill about 0.0 times over. which is weaker than most peers shown here and 2 peers sit below 1x, which is the danger zone where profit does not fully cover the interest bill.
Healthy
Worse cushion
Baseline
Better cushion
TNXP
BASELINE
Tonix Pharmaceuticals Holding Corp.
Total debt $1.25M Interest coverage -1,378.55x This is the baseline the peer rows are being compared against.
Total debt $26.31M Interest coverage -29.32x Neither company has much profit cushion over interest right now.
Total debt $313.95M Interest coverage -1.88x Neither company has much profit cushion over interest right now.
What you should know
The case for and against TNXP
1 Reward
2 Risks
Rewards
-
Revenue grew 228.4% last year.
Risks
-
Return on equity was -84.1% last year — the company lost money on shareholders' equity.
-
Insider ownership is only 0.2% (peer median: 5.0%).
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
—
Forward P/E
-0.51x
P/B
0.39x
P/S
1.85x
EV/EBITDA
0.44x
PEG ratio
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Profitability
How much profit each dollar creates
Gross margin
89.3%
Operating margin
-321.6%
Net margin
0.0%
ROE
-84.1%
ROA
-47.4%
Health
Liquidity and balance-sheet strength
Debt / equity
0.01x
Current ratio
4.57x
Quick ratio
4.23x
Total debt
$1.25M
Total cash
$162.79M
Growth
How the business has been compounding
Revenue TTM
$43.05M
Revenue 5Y CAGR
29.9%
EPS TTM
-12.39
EPS 5Y CAGR
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Cash flow
How much cash the business throws off
Operating CF TTM
$-165.28M
Free CF TTM
$-103.21M
FCF margin
-239.8%
Dividend
Shareholder payout
Yield
0.0%
Payout ratio
0.0%
Last ex-div date
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