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Tonix Pharmaceuticals Holding Corp., a fully integrated biopharmaceutical company, develops and commercializes therapies for central nervous system (CNS) disorders, immunology and immuno-oncology, infectious diseases, and rare diseases in the United States. The company offers TONMYA, a cyclobenzaprine HCl sublingual tablet for the treatment of fibromyalgia. It also markets Zembrace SymTouch and Tosymra for the treatment of acute migraine with or without aura in adults. In addition, the company develops TNX-102 SL, a cyclobenzaprine HCl sublingual tablet for the treatment of major depressive disorder and acute stress reaction/acute stress disorder; TNX-1300, a double-mutant cocaine esterase for the treatment of cocaine intoxication; TNX-1500, an Fc-modified humanized monoclonal antibody to prevent kidney transplant rejection, as well as to treat autoimmune conditions; TNX-4800, a humanized monoclonal antibody for the seasonal prevention of Lyme disease; and TNX-2900, an intranasal oxytocin potentiated with magnesium for the treatment of Prader-Willi syndrome. Further, it is developing TNX-1900, an intranasal potentiated oxytocin for the treatment of binge eating disorder, adolescent obesity, and bone health in pediatric autism, and arginine-vasopressin deficiency; TNX-801, a live horsepox vaccine for the prevention of smallpox and mpox; TNX-4200, a small molecule broad-spectrum antiviral agent targeting CD45 for the treatment or prevention of viral disease; TNX-4900, a highly selective small-molecule Sigma-1 receptor antagonist for neuropathic pain; TNX-1700, a recombinant Trefoil Factor Family 2 fusion protein for the treatment of gastric and colorectal cancers; and TNX-1800 and TNX-1850, live modified horsepox vaccines for the prevention of COVID. Tonix Pharmaceuticals Holding Corp. was founded in 2007 and is based in Berkeley Heights, New Jersey.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $13M | $-122M | $-124M | $-103M | -50.6% | 29.8% | -4.6% |
| 2024 | $10M | $-125M | $-130M | $-61M | -93.2% | 29.9% | 11.5% |
| 2023 | $8M | $-114M | $-117M | $-110M | -110.6% | - | 5.8% |
| 2022 | $0M | $-111M | $-110M | $-146M | -53.2% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 0 | 7.77 | 10.09 | 13.11 |
| Operating Revenue | - | 0 | 7.77 | 10.09 | 13.11 |
| Cost Of Revenue | - | 0 | 4.74 | 7.76 | 6.64 |
| Gross Profit | - | 0 | 3.03 | 2.33 | 6.47 |
| Operating Expense | - | 112.09 | 121.41 | 77.48 | 129.16 |
| Research And Development | - | 81.88 | 86.66 | 39.97 | 44.49 |
| Selling General And Administration | - | 30.22 | 34.75 | 40.10 | 87.68 |
| Total Expenses | - | 112.09 | 126.15 | 85.24 | 135.80 |
| Operating Income | - | -112.09 | -118.38 | -75.15 | -122.69 |
| Total Operating Income As Reported | - | -112.09 | -118.38 | -136.70 | -125.70 |
| EBITDA | - | -110.84 | -114.09 | -125.38 | -122.01 |
| Normalized EBITDA | - | -110.84 | -114.09 | -72.57 | -119.92 |
| EBIT | - | -112.09 | -118.38 | -128.80 | -123.93 |
| Interest Income | 0.02 | 1.87 | - | 0.02 | 4.15 |
| Interest Expense | - | - | - | 1.23 | 0.09 |
| Net Interest Income | 0.02 | 1.87 | - | -1.21 | 4.06 |
| Other Non Operating Income Expenses | - | 1.87 | 1.72 | -0.87 | -3.30 |
| Other Income Expense | - | 1.87 | 1.72 | -53.67 | -5.39 |
| Interest Income Non Operating | 0.02 | 1.87 | - | 0.02 | 4.15 |
| Interest Expense Non Operating | - | - | - | 1.23 | 0.09 |
| Net Non Operating Interest Income Expense | 0.02 | 1.87 | - | -1.21 | 4.06 |
| Pretax Income | - | -110.22 | -116.66 | -130.04 | -124.02 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | 0 | 0 | 0 |
| Net Income Continuous Operations | - | -110.22 | -116.66 | -130.04 | -124.02 |
| Net Income From Continuing And Discontinued Operation | - | -110.22 | -116.66 | -130.04 | -124.02 |
| Net Income From Continuing Operation Net Minority Interest | - | -110.22 | -116.66 | -130.04 | -124.02 |
| Net Income | - | -110.22 | -116.66 | -130.04 | -124.02 |
| Net Income Common Stockholders | - | -116.88 | -116.66 | -130.04 | -124.02 |
| Net Income Including Noncontrolling Interests | - | -110.22 | -116.66 | -130.04 | -124.02 |
| Normalized Income | - | -110.22 | -116.66 | -77.23 | -121.93 |
| Diluted NI Availto Com Stockholders | - | -116.88 | -116.66 | -130.04 | -124.02 |
| Basic Average Shares | - | 0 | 0.01 | 0.74 | 8.51 |
| Diluted Average Shares | - | 0 | 0.01 | 0.74 | 8.51 |
| Reconciled Depreciation | - | 1.25 | 4.29 | 3.42 | 1.92 |
| Reconciled Cost Of Revenue | - | 0 | 4.74 | 7.76 | 6.64 |
| Total Unusual Items | - | - | 0 | -52.81 | -2.09 |
| Total Unusual Items Excluding Goodwill | - | - | 0 | -52.81 | -2.09 |
| Preferred Stock Dividends | - | 6.66 | - | - | - |
| Special Income Charges | - | - | 0 | -58.96 | -2.09 |
| Other Special Charges | - | - | - | - | 2.09 |
| Write Off | - | - | 0 | 58.96 | 0 |
| Gain On Sale Of Security | - | - | - | 6.15 | - |
| General And Administrative Expense | 23.47 | 30.22 | 34.75 | - | - |
| Other Gand A | 23.47 | 30.22 | 34.75 | - | - |
| Other Operating Expenses | - | - | - | -2.59 | -3.01 |
| Otherunder Preferred Stock Dividend | 0 | - | - | - | - |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Tonix Pharmaceuticals Holding Corp.this co. | TNXP | $189M | -1.53 | 0.77 | -50.6% | 0.14 |
| Nkarta, Inc. | NKTX | $198M | - | 0.63 | -33.3% | - |
| Anika Therapeutics, Inc. | ANIK | $197M | -18.09 | 1.37 | -7.6% | -31.11 |
| Lucid Diagnostics Inc. | LUCD | $195M | - | 17.79 | -645.1% | - |
| Cartesian Therapeutics, Inc. | RNAC |
| 2021 |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| $192M |
| -1.48 |
| -1.52 |
| 103.2% |
| -0.96 |
| KORU Medical Systems, Inc. | KRMD | $190M | -72.09 | 11.15 | -15.5% | -85.47 |
| MediWound Ltd. | MDWD | $186M | -7.78 | 4.26 | -54.7% | -8.81 |
| Stereotaxis, Inc. | STXS | $184M | -8.49 | 13.63 | -160.5% | -8.55 |
| Quanterix Corporation | QTRX | $179M | -1.67 | 0.61 | -36.2% | -2.05 |
| Peer Median | - | -8.13 | 2.81 | -34.8% | -8.68 | |