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
CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($)
$ in Thousands
Mar. 31, 2020
Dec. 31, 2019
Current assets:    
Cash and cash equivalents $ 30,665 $ 11,249
Prepaid expenses and other 2,731 2,699
Total current assets 33,396 13,948
Property and equipment, net 28 34
Right-of-use assets, net 281 356
Security deposit 7  
Restricted cash 100 100
Intangible asset 120 120
Total assets 33,932 14,558
Current liabilities:    
Accounts payable 1,408 3,070
Accrued expenses and other current liabilities 996 1,713
Lease liability, current 256 352
Total current liabilities 2,660 5,135
Lease liability net of current 25 6
Total liabilities 2,685 5,141
Commitments (See Note 11)  
Stockholders' equity:    
Preferred stock, 5,000,000 shares authorized Series B Convertible Preferred stock, $0.001 par value; 5,313 shares designated; 0 issued and outstanding as of March 31, 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; 49,353,134 and 8,531,504 shares issued and outstanding as of March 31, 2020 and December 31, 2019, respectively, and 1,578 shares to be issued as of December 31, 2019 49 9
Additional paid in capital 255,601 226,524
Accumulated deficit (224,343) (217,070)
Accumulated other comprehensive loss (60) (46)
Total stockholders' equity 31,247 9,417
Total liabilities and stockholders' equity $ 33,932 $ 14,558
v3.20.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
COSTS AND EXPENSES:    
Research and development $ 4,676 $ 3,896
General and administrative 2,621 2,401
Total costs and expenses 7,297 6,297
Operating Loss (7,297) (6,297)
Interest income, net 24 64
Net loss (7,273) (6,233)
Warrant deemed dividend 451  
Preferred stock deemed dividend 1,260  
Net loss available to common stockholders $ (8,984) $ (6,233)
Net loss per common share, basic and diluted (in dollars per share) $ (0.37) $ (12.76)
Weighted average common shares outstanding, basic and diluted (in shares) 24,028,970 488,315
v3.20.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (7,273) $ (6,233)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 6 9
Stock-based compensation 360 305
Changes in operating assets and liabilities:    
Prepaid expenses and other (39) (1,700)
Accounts payable (1,662) (270)
Lease liabilities and ROU asset, net (2)  
Accrued expenses and other current liabilities (716) (753)
Net cash used in operating activities (9,326) (8,642)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of furniture and fixtures   (7)
Net cash used by investing activities   (7)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from the exercise of warrants 7,474 70
Proceeds, net of expenses of $711 and $0, from the sale of preferred stock 4,602  
Proceeds, net of expenses of $1,513 and $0, from sale of common stock and warrants 16,681 3
Net cash provided by financing activities 28,757 73
Effect of currency rate change on cash (15) (10)
Net decrease in cash, cash equivalents and restricted cash 19,416 (8,586)
Cash, cash equivalents and restricted cash beginning of the period 11,349 25,134
Cash, cash equivalents and restricted cash end of period 30,765 $ 16,548
Non-cash financing activities:    
Series B Convertible preferred stock deemed dividend 1,260  
Warrants deemed dividend $ 451