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

v3.20.4
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2020
Dec. 31, 2019
Current assets:    
Cash and cash equivalents $ 77,068 $ 11,249
Prepaid expenses and other 10,921 2,699
Total current assets 87,989 13,948
Property and equipment, net 8,571 34
Operating lease right-to-use assets 1,258 356
Security deposit 5  
Restricted cash 240 100
Intangible Asset 120 120
Total assets 98,183 14,558
Current liabilities:    
Accounts payable 4,598 3,070
Accrued expenses and other current liabilities 4,626 1,713
Lease liability, short term 595 352
Total current liabilities 9,819 5,135
Lease liability, long term 716 6
Total liabilities 10,535 5,141
Commitments (See Note 15)  
Stockholders' equity:    
Preferred stock, $0.001 par value; 5,000,000 shares authorized Series B Convertible Preferred stock, 5,313 and 0 shares designated as of December 31, 2020 and 2019, respectively; issued and outstanding - None; Series A Convertible Preferred stock, 0 and 7,938 shares designated as of December 31, 2020 and 2019, respectively issued and outstanding -- None  
Common stock, $0.001 par value; 400,000,000 and 150,000,000 shares authorized as of December 31, 2020 and 2019, respectively; 206,008,683 and 8,531,504 shares issued and outstanding as of December 31, 2020 and 2019, respectively and 54,447 and 1,578 shares to be issued as of December 31, 2020 and December 31, 2019, respectively 206 9
Additional paid in capital 355,037 226,524
Accumulated deficit (267,533) (217,070)
Accumulated other comprehensive loss (62) (46)
Total stockholders' equity 87,648 9,417
Total liabilities and stockholders' equity $ 98,183 $ 14,558
v3.20.4
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
COSTS AND EXPENSES:    
Research and development $ 36,157 $ 18,192
General and administrative 14,354 10,636
Total costs and expenses 50,511 28,828
Operating Loss (50,511) (28,828)
Interest income, net 48 210
Net loss (50,463) (28,618)
Warrant deemed dividend (451)  
Preferred stock deemed dividend (1,260) (2,474)
Net loss available to common stockholders $ (52,174) $ (31,092)
Net loss per common share, basic and diluted (in dollars per share) $ (0.55) $ (19.33)
Weighted average common shares outstanding, basic and diluted (in shares) 94,591,715 1,608,568
v3.20.4
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (50,463) $ (28,618)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 27 26
Common stock issued to acquire in-process research and development 1,360  
Stock-based compensation 2,876 1,457
Changes in operating assets and liabilities:    
Prepaid expenses (6,859) (1,676)
Accounts payable 1,528 1,663
Lease liabilities and ROU asset, net 51 3
Accrued expenses and other current liabilities 2,914 462
Net cash used in operating activities (48,566) (26,683)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property and equipment (8,564) (17)
Net cash used in investing activities (8,564) (17)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from exercise of warrants 9,896 70
Proceeds from ESPP 2 31
Proceeds, net of $711 and $957 expenses, from sale of preferred stock 4,602 6,980
Proceeds, net of $4,646 and $1,045 expenses, from sale of common stock and warrants 108,605 5,838
Net cash provided by financing activities 123,105 12,919
Effect of currency rate change on cash (16) (4)
Net increase (decrease) in cash, cash equivalents and restricted cash 65,959 (13,785)
Cash, cash equivalents and restricted cash beginning of the period 11,349 25,134
Cash, cash equivalents and restricted cash end of period 77,308 11,349
Supplemental disclosures of cash flow information:    
Beneficial conversion feature in connection with sale of Series A Convertible preferred stock and deemed dividend   $ 2,474
Warrants deemed dividend 451  
Series A Convertible preferred stock and deemed dividend $ 1,260