Tonix Pharmaceuticals is enrolling participants in a Phase 3 trial for fibromyalgia.
For more information, please visit www.thereliefstudy.com or www.clinicaltrials.gov (NCT04172831).

Financial Info
: Financials

Financials

v3.20.1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2019
Dec. 31, 2018
Current assets:    
Cash and cash equivalents $ 11,249 $ 25,034
Prepaid expenses and other 2,699 1,022
Total current assets 13,948 26,056
Property and equipment, net 34 43
Right to use assets, net 356  
Restricted cash 100 100
Intangible Asset 120 120
Total assets 14,558 26,319
Current liabilities:    
Accounts payable 3,070 1,404
Accrued expenses and other current liabilities 1,713 1,251
Lease liability, short term 352  
Total current liabilities 5,135 2,655
Lease liability, long term 6  
Total liabilities 5,141 2,655
Commitments (See Note 12)  
Stockholders' equity:    
Preferred stock, $0.001 par value; 5,000,000 shares authorized Series A Convertible Preferred stock, $0.001 par value; 7,938 and 11,984 shares designated; as of December 31, 2019 and 2018, respectively 0 and 9,856 shares issued and outstanding as of December 31, 2019 and 2018, respectively
Common stock, $0.001 par value; 15,000,000 shares authorized; 8,531,504 and 328,689 shares issued and outstanding as of December 31, 2019 and 2018, respectively, and 1,578 and 177 shares to be issued as of December 31, 2019 and December 31, 2018, respectively 9  
Additional paid in capital 226,524 212,157
Accumulated deficit (217,070) (188,452)
Accumulated other comprehensive loss (46) (41)
Total stockholders' equity 9,417 23,664
Total liabilities and stockholders' equity $ 14,558 $ 26,319
v3.20.1
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
COSTS AND EXPENSES:    
Research and development $ 18,192 $ 17,558
General and administrative 10,636 8,764
Total costs and expenses 28,828 26,322
Operating Loss (28,828) (26,322)
Interest income, net 210 233
Net loss (28,618) (26,089)
Preferred stock deemed dividend 2,474 3,266
Net loss available to common stockholders $ (31,092) $ (29,355)
Net loss per common share, basic and diluted (in dollars per share) $ (19.33) $ (259.85)
Weighted average common shares outstanding, basic and diluted (in shares) 1,608,568 112,968
v3.20.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (28,618) $ (26,089)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 26 54
Stock-based compensation 1,457 1,627
Changes in operating assets and liabilities:    
Prepaid expenses (1,676) (79)
Accounts payable 1,663 106
Operating lease liabilities and ROU asset, net 3  
Accrued expenses and other current liabilities 462 410
Net cash used in operating activities (26,683) (23,971)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of furniture and fixtures (17) (6)
Net cash used in investing activities (17) (6)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from exercise of warrants 70  
Proceeds, net of $957 and $1,159 expenses, from sale of preferred stock 6,980 10,825
Proceeds, net of $1,045 and $610 expenses, from sale of common stock 5,869 12,714
Net cash provided by financing activities 12,919 23,539
Effect of currency rate change on cash (4) (13)
Net decrease in cash, cash equivalents and restricted cash (13,785) (451)
Cash, cash equivalents and restricted cash beginning of the year 25,134 25,585
Cash, cash equivalents and restricted cash end of year 11,349 25,134
Supplemental disclosures of cash flow information:    
Taxes paid 82
Non cash financing activities:    
Beneficial conversion feature in connection with sale of Series A Convertible preferred stock and deemed dividend $ 2,474 $ 3,266