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

v3.21.1
CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($)
$ in Thousands
Mar. 31, 2021
Dec. 31, 2020
Current assets:    
Cash and cash equivalents $ 164,214 $ 77,068
Prepaid expenses and other 8,951 10,921
Total current assets 173,165 87,989
Property and equipment, net 9,070 8,571
Right of use assets, net 921 1,258
Security deposit 5 5
Restricted cash 240 240
Intangible asset 120 120
Total assets 183,521 98,183
Current liabilities:    
Accounts payable 2,859 4,598
Accrued expenses and other current liabilities 2,783 4,626
Lease liability, current 386 595
Total current liabilities 6,028 9,819
Lease liability, net of current 577 716
Total liabilities 6,605 10,535
Commitments (See Note 15)  
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 as of March 31, 2021 and December 31, 2020, issued and outstanding - None Series A Convertible Preferred stock, $0.001 par value; 7,938 shares designated as of March 31, 2021 and December 31, 2020, issued and outstanding - None  
Common stock, $0.001 par value; 800,000,000 and 400,000,000 shares authorized as of March 31, 2021 and December 31, 2020, respectively; 323,917,731 and 206,008,683 shares issued and outstanding as of March 31, 2021 and December 31, 2020, respectively, and 54,447 shares to be issued as of December 31, 2020 324 206
Additional paid in capital 464,841 355,037
Accumulated deficit (288,186) (267,533)
Accumulated other comprehensive loss (63) (62)
Total stockholders' equity 176,916 87,648
Total liabilities and stockholders' equity $ 183,521 $ 98,183
v3.21.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
COSTS AND EXPENSES:    
Research and development $ 15,327 $ 4,676
General and administrative 5,409 2,621
Total costs and expenses 20,736 7,297
Operating loss (20,736) (7,297)
Interest and other income, net 83 24
Net loss (20,653) (7,273)
Warrant deemed dividend   451
Preferred stock deemed dividend   1,260
Net loss available to common stockholders $ (20,653) $ (8,984)
Net loss per common share, basic and diluted (in dollars per share) $ (0.07) $ (0.37)
Weighted average common shares outstanding, basic and diluted (in shares) 290,106,510 24,028,970
v3.21.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (20,653) $ (7,273)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 6 6
Stock-based compensation 1,212 360
Changes in operating assets and liabilities:    
Prepaid expenses and other 1,971 (39)
Accounts payable (1,739) (1,662)
Lease liabilities and ROU asset, net (12) (2)
Accrued expenses and other current liabilities (1,843) (716)
Net cash used in operating activities (21,058) (9,326)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property and equipment (505)  
Net cash used by investing activities (505)  
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from the exercise of warrants 2 7,474
Proceeds from ESPP 28 2
Proceeds, net of expenses of $0 and $711, from the sale of preferred stock   4,602
Proceeds, net of expenses of $8,328 and $1,513, from sale of common stock and warrants 108,680 16,679
Net cash provided by financing activities 108,710 28,757
Effect of currency rate change on cash (1) (15)
Net increase in cash, cash equivalents and restricted cash 87,146 19,416
Cash, cash equivalents and restricted cash beginning of the period 77,308 11,349
Cash, cash equivalents and restricted cash end of period $ 164,454 30,765
Non-cash financing activities:    
Series B Convertible preferred stock deemed dividend   1,260
Warrants deemed dividend   $ 451