Tonix Pharmaceuticals Secures $20 Million in Registered Direct Offering with Point72 to Advance Clinical Pipeline

Tonix Pharmaceuticals Holding Corp. announced it has entered into a securities purchase agreement with Point72 for a registered direct offering of 615,025 shares of common stock at $16.26 per share, or pre-funded warrants to purchase up to an aggregate of 615,025 shares at a purchase price of $16.259 per warrant, for gross proceeds of approximately $20.0 million before fees and expenses. The offering is expected to close on or about Dec. 30, 2025, subject to customary closing conditions, with net proceeds intended to fund commercialization of marketed products, development of the company’s product pipeline, and general working capital and corporate purposes. TD Cowen is acting as sole placement agent, with A.G.P./Alliance Global Partners serving as financial advisor.

This capital infusion is significant for Tonix as it supports the commercialization of TONMYA, the first new prescription medicine approved by the FDA for fibromyalgia in more than 15 years. Fibromyalgia is a chronic pain condition affecting millions of adults, and TONMYA represents a first-in-class, non-opioid analgesic option. The company also markets two treatments for acute migraine in adults: Zembrace SymTouch and Tosymra. The funding will accelerate development across Tonix’s diverse portfolio, which includes central nervous system disorders, immunology, immuno-oncology, rare disease and infectious disease programs.

Tonix’s development pipeline includes TNX-102 SL, which is being developed to treat acute stress reaction and acute stress disorder under an Investigator-Initiated IND at the University of North Carolina in the OASIS study funded by the U.S. Department of Defense. TNX-102 SL is also in development for major depressive disorder. The immunology portfolio features TNX-1500, a Phase 2-ready Fc-modified humanized monoclonal antibody targeting CD40-ligand being developed for the prevention of allograft rejection and treatment of autoimmune diseases. The rare disease portfolio includes TNX-2900, intranasal oxytocin potentiated with magnesium, in development for Prader-Willi syndrome and expected to start a potential pivotal Phase 2 study in 2026.

The infectious disease portfolio represents another critical area of development, with TNX-801, a vaccine in development for mpox and smallpox, and TNX-4800, a Phase 2-ready long-acting humanized monoclonal antibody for the seasonal prevention of Lyme disease. Additionally, TNX-4200 has a contract with the U.S. DoD’s Defense Threat Reduction Agency for up to $34 million over five years and is a small molecule broad-spectrum antiviral agent targeting CD45 for the prevention or treatment of high lethality infections to improve medical readiness of military personnel. Tonix operates a state-of-the-art infectious disease research facility in Frederick, Maryland, supporting these efforts. The latest news and updates relating to TNXP are available in the company’s newsroom at https://ibn.fm/TNXP.

This financing round with Point72 provides Tonix with essential resources to advance multiple clinical programs simultaneously, potentially bringing new treatments to market for conditions with significant unmet medical needs. The company’s broad pipeline spans from marketed products to early-stage investigational candidates, positioning it to address various therapeutic areas. The involvement of established financial institutions like TD Cowen and A.G.P./Alliance Global Partners as placement agent and financial advisor, respectively, underscores the credibility of this offering. As Tonix progresses its pipeline, this $20 million capital raise represents a strategic step toward achieving key clinical milestones and expanding commercial operations for its approved therapies.