Shares of Tonix Pharmaceuticals Holding Corp (NASDAQ:TNXP) are building on recent gains, trading higher as investor focus intensifies on a key, upcoming catalyst. Here’s what investors need to know.
What To Know: The stock surged Tuesday following the release of the company’s second-quarter financial results, which painted a picture of forward-looking optimism despite mixed top-line numbers. Tonix posted a second-quarter net loss of $3.86 per share, beating the analyst consensus estimate of a $10.73 loss per share.
However, sales for the quarter came in at $2.0 million, missing the forecast of $2.6 million. Investors appear to be prioritizing the company's future potential over the revenue miss, driven by the approaching Prescription Drug User Fee Act goal date of August 15.
On this date, the U.S. Food and Drug Administration is set to announce its decision on Tonix’s lead drug candidate, TNX-102 SL, for the management of fibromyalgia. An approval would mark the first new medication for the condition in over 16 years, and Tonix anticipates a potential launch in the fourth quarter of this year.
Confidence is further supported by the company's solid financial position, reporting $125.3 million in cash and equivalents, which it expects will fund operations into the third quarter of 2026. The company's recent addition to the Russell 2000 and Russell 3000 Indexes also increases its visibility to investors.
Price Action: According to data from Benzinga Pro, TNXP shares are trading higher by 30% to $60.86 since Monday’s open. The stock has a 52-week high of $130.00 and a 52-week low of $6.76.
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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