TNXP - Tonix Pharmaceuticals Stock (TNXP) Hits A New All-Time Low: What's Going On? | Benzinga

Tonix Pharmaceuticals Holding Corp (NASDAQ:TNXP) shares traded lower by 7.2% to $0.17 Monday morning, hitting a new-all time low. The stock is trading lower on downward momentum after the company last week announced the pricing of a $4.4 million registered direct offering.

Tonix has initiated a securities purchase agreement with existing healthcare-focused institutional investors for the sale of 14,666,666 shares of its common stock and accompanying warrants in a registered direct offering at a combined price of $0.30 per share.

The offering, expected to close around April 1, is anticipated to generate gross proceeds of approximately $4.4 million. The net proceeds will be allocated towards working capital, general corporate ...

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