Tonix Pharmaceuticals is enrolling participants in a Phase 3 trial for fibromyalgia, the RALLY study.
For more information, please visit www.RALLYStudy.com or www.clinicaltrials.gov (NCT04508621).

Financial Info
: Financials

Financials

v3.20.2
CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($)
$ in Thousands
Jun. 30, 2020
Dec. 31, 2019
Current assets:    
Cash $ 55,022 $ 11,249
Prepaid expenses and other 2,605 2,699
Total current assets 57,627 13,948
Property and equipment, net 37 34
Right-of-use assets, net 441 356
Security Deposit 20  
Restricted cash 100 100
Intangible Asset 120 120
Total assets 58,345 14,558
Current liabilities:    
Accounts payable 3,189 3,070
Accrued expenses and other current liabilities 1,143 1,713
Lease liability, current 346 352
Total current liabilities 4,678 5,135
Lease liability, net of current portion 95 6
Total liabilities 4,773 5,141
Commitments (See Note 12)  
Stockholders' equity:    
Preferred stock, $0.001 par value; 5,000,000 shares authorized Series B Convertible Preferred stock, $0.001 par value; 5,313 shares designated; 0 issued and outstanding as of June 30, 2020, Series A Convertible Preferred stock, $0.001 par value; 7,938 shares designated; 0 issued and outstanding as of December 31, 2019  
Common stock, $0.001 par value; 150,000,000 shares authorized; 104,803,906 and 8,531,504 shares issued and outstanding as of June 30, 2020 and December 31, 2019, respectively, and 1,578 shares to be issued as of December 31, 2019 105 9
Additional paid in capital 292,058 226,524
Accumulated deficit (238,522) (217,070)
Accumulated other comprehensive loss (69) (46)
Total stockholders' equity 53,572 9,417
Total liabilities and stockholders' equity $ 58,345 $ 14,558
v3.20.2
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
COSTS AND EXPENSES:        
Research and development $ 10,571 $ 3,554 $ 15,247 $ 7,450
General and administrative 3,621 2,352 6,242 4,753
Total costs and expenses 14,192 5,906 21,489 12,203
Operating Loss (14,192) (5,906) (21,489) (12,203)
Interest income, net 13 66 37 130
Net loss (14,179) (5,840) (21,452) (12,073)
Warrant deemed dividend     451  
Preferred stock deemed dividend     1,260  
Net loss available to common stockholders $ (14,179) $ (5,840) $ (23,163) $ (12,073)
Net loss per common share, basic and diluted (in dollars per share) $ (0.23) $ (9.42) $ (0.54) $ (21.77)
Weighted average common shares outstanding, basic and diluted (in shares) 62,391,006 620,204 43,209,988 554,624
v3.20.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (21,452) $ (12,073)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 12 16
Common stock issued to acquire in-process research and development 1,360  
Stock-based compensation 1,093 736
Changes in operating assets and liabilities:    
Prepaid expenses and other 74 (987)
Accounts payable 118 (358)
Lease liabilities and ROU asset, net (2) 2
Accrued expenses and other current liabilities (570) (691)
Net cash used in operating activities (19,367) (13,355)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of furniture and fixtures (14) (10)
Net cash used by investing activities (14) (10)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from exercise of warrants 7,474 70
Proceeds from ESPP 2  
Proceeds, net of $711 and $0 expenses, from sale of preferred stock 4,602  
Proceeds, net of $2,644 and $1 expenses, from sale of common stock and warrants 51,099 420
Net cash provided by financing activities 63,177 490
Effect of currency rate change on cash (23) (9)
Net increase (decrease) in cash, cash equivalents and restricted cash 43,773 (12,884)
Cash, cash equivalents and restricted cash beginning of the period 11,349 25,134
Cash, cash equivalents and restricted cash end of period 55,122 $ 12,250
Non-cash financing activities:    
Warrants deemed dividend 451  
Series B Convertible preferred stock and deemed dividend $ 1,260