Shares of Tonix Pharmaceuticals Holding Corp (NASDAQ:TNXP) are trading sharply higher Tuesday morning following the release of the company’s second-quarter financial results and operational update.
What To Know: The biotechnology company posted a second-quarter net loss of $3.86 per share, which beat the analyst consensus estimate of a $10.73 loss per share. However, sales for the quarter were approximately $2.0 million, missing the estimated $2.6 million.
Despite the mixed top-line results, investors are focusing on the company’s forward-looking catalysts, particularly the upcoming FDA PDUFA goal date of August 15, for its lead drug candidate, TNX-102 SL for fibromyalgia.
Per Tonix, if approved, TNX-102 SL would be the first new medication for the condition in over 16 years, and the company anticipates a potential launch in the fourth quarter of this year.
The optimism is further supported by the company’s solid financial footing. Tonix reported cash and cash equivalents of $125.3 million as of June 30, and expects its current cash runway to fund operations into the third quarter of 2026.
The company also highlighted its recent addition to the Russell 2000 and Russell 3000 Indexes, increasing its visibility to institutional investors.
Benzinga Edge Rankings: According to Benzinga’s Edge stock rankings, which provide four critical scores for stock evaluation, TNXP demonstrates exceptionally strong momentum with a score of 97.16. This high rating suggests significant positive price movement in recent sessions. The stock’s Value score is moderate at 53.01, indicating a neutral valuation profile.
Price Action: According to data from Benzinga Pro, TNXP shares are trading higher by 25.93% to $56.65 Tuesday morning. The stock has a 52-week high of $130.00 and a 52-week low of $6.76.
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How To Buy TNXP Stock
Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.
For example, in Tonix Pharmaceuticals’ case, it is in the Health Care sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
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