Tonix Pharmaceuticals Holding Corp. (TNXP)

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
Sep. 30, 2020
Dec. 31, 2019
Current assets:    
Cash and cash equivalents $ 55,658 $ 11,249
Prepaid expenses and other 6,360 2,699
Total current assets 62,018 13,948
Property and equipment, net 4,044 34
Right-of-use assets, net 1,196 356
Restricted cash 239 100
Intangible asset 120 120
Total assets 67,617 14,558
Current liabilities:    
Accounts payable 1,770 3,070
Accrued expenses and other current liabilities 2,073 1,713
Lease liability, current 535 352
Total current liabilities 4,378 5,135
Lease liability, net of current portion 671 6
Total liabilities 5,049 5,141
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 September 30, 2020 and December 31, 2019, respectively; Series A Convertible Preferred stock, 0 and 7,938 shares designated as of September 30, 2020 and December 31, 2019, respectively  
Common stock, $0.001 par value; 400,000,000 and 150,000,000 shares authorized as of September 30, 2020 and December 31, 2019, respectively; 140,159,546 and 8,531,504 shares issued and outstanding as of September 30, 2020 and December 31, 2019, respectively 140 9
Additional paid in capital 313,004 226,524
Accumulated deficit (250,512) (217,070)
Accumulated other comprehensive loss (64) (46)
Total stockholders' equity 62,568 9,417
Total liabilities and stockholders' equity $ 67,617 $ 14,558
v3.20.2
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
COSTS AND EXPENSES:        
Research and development $ 8,813 $ 5,052 $ 24,060 $ 12,502
General and administrative 3,186 2,839 9,428 7,592
Total costs and expenses 11,999 7,891 33,488 20,094
Operating loss (11,999) (7,891) (33,488) (20,094)
Interest income, net 9 53 46 183
Net loss (11,990) (7,838) (33,442) (19,911)
Warrant deemed dividend     (451)  
Preferred stock deemed dividend     (1,260)  
Net loss available to common stockholders $ (11,990) $ (7,838) $ (35,153) $ (19,911)
Net loss per common share, basic and diluted (in dollars per share) $ (0.09) $ (5.69) $ (0.49) $ (23.93)
Weighted average common shares outstanding, basic and diluted (in shares) 127,199,834 1,377,857 71,329,221 832,050
v3.20.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (33,442) $ (19,911)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 20 21
Common stock issued to acquire in-process research and development 1,360  
Stock-based compensation 2,005 1,098
Changes in operating assets and liabilities:    
Prepaid expenses and other (3,662) (508)
Accounts payable (1,301) (285)
Lease liabilities and ROU asset, net 8 2
Accrued expenses and other current liabilities 360 (417)
Net cash used in operating activities (34,652) (20,000)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property and equipment (4,030) (12)
Net cash used in investing activities (4,030) (12)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from exercise of warrants 9,896 70
Proceeds from ESPP 2 31
Proceeds, net of $711 and $0 expenses, from sale of preferred stock 4,602  
Proceeds, net of $3,740 and $485 expenses, from sale of common stock and warrants 68,746 4,904
Net cash provided by financing activities 83,246 5,005
Effect of currency rate change on cash (16) (3)
Net increase (decrease) in cash, cash equivalents and restricted cash 44,548 (15,010)
Cash, cash equivalents and restricted cash beginning of the period 11,349 25,134
Cash, cash equivalents and restricted cash end of period 55,897 $ 10,124
Supplemental disclosures of cash flow information:    
Warrants deemed dividend 451  
Series B Convertible preferred stock and deemed dividend $ 1,260