BUZZ-Tonix Pharmaceuticals ticks up after $20 million direct stock deal
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Tonix Pharmaceuticals (TNXP) shares rose 0.9% to $16.40 in premarket trading following a $20 million registered direct offering of common stock and pre-funded warrants to Point72, Steven Cohen’s investment firm. The offering was priced at $16.26 per share. Proceeds will support commercialization and product development. TNXP has 11.8 million outstanding shares and a market cap of $191.5 million. Despite the rise, TNXP stock is down 50.7% year-to-date, with two brokerages rating it a "buy" and a median price target of $65.
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