Tonix Pharmaceuticals Stock (NASDAQ: TNXP)

Tonix Pharmaceuticals (NASDAQ:TNXP) Stock, Quote.Headers.trade-ideas

Tonix Pharmaceuticals

Tonix Pharmaceuticals Holding Corp is a biopharmaceutical company focused on developing, licensing and commercializing therapeutics to treat and prevent human disease and alleviate suffering. Tonix's development portfolio is focused on central nervous system (CNS) disorders. The company's immunology development portfolio consists of biologics to address organ transplant rejection, autoimmunity and cancer, including TNX-1500, which is a humanized monoclonal antibody targeting CD40-ligand (CD40L or CD154) being developed for the prevention of allograft rejection and for the treatment of autoimmune diseases. Tonix also has product candidates in development in the areas of rare disease and infectious disease.

Screenshot 2024-07-23 at 10.19.53 PM

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Beyond &#34;One Bug, One Drug&#34; – Tonix Pharmaceuticals Secures Up To $34 Million In Funding From U.S. Department Of Defense To Develop Broad-Spectrum Antiviral

Screenshot 2024-07-10 at 9.08.28 PM

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A Redux Of The Lyrica-Cymbalta Fibromyalgia War Of The 2010s May Look More Like David Vs. Goliath

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Why Helen of Troy Shares Are Trading Lower By Around 30%? Here Are Other Stocks Moving In Tuesday&#39;s Mid-Day Session

Tonix Pharmaceuticals Holding Corp. - Common Stock

Tonix Pharmaceuticals Holding Corp

Tonix Pharmaceuticals Announces FDA Fast Track Designation For Tonmya To Treat Fibromyalgia; NDA Submission On Track For Second Half Of 2024; Potential To Be First New Fibromyalgia Drug In Over 15 Years

Alliance Global Partners analyst James Molloy maintains Tonix Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TNXP#NASDAQ">TNXP</a>) with a Buy and raises the price target from $6 to $11.

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Analyst Ratings

Alliance Global Partners Maintains Buy on Tonix Pharmaceuticals, Raises Price Target to $11

With the completion of its final pre-NDA meeting with the FDA, Tonix Pharmaceuticals Holding Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TNXP#NASDAQ">TNXP</a>) announced it is filing an NDA submission in 2H 2024 and laying plans for the commercial launch of Tonmya&#x2122;&#x2A; for the management of fibromyalgia, assuming approval by the FDA in 2H 2025.
The fibromyalgia market has not seen a new FDA-approved drug in over 15 years. And now with two drugs making their way through the FDA - Tonix's Tonmya and one from another U.S. company - there could be the prospect of a two-drug rivalry reminiscent of the 2010s when two blockbuster fibromyalgia drugs together created $10 billion in peak sales.

Tonix Pharmaceuticals, Set To File An NDA For Tonmya For The Management Of Fibromyalgia, Assuming Approval By The FDA In 2H 2025

Shares of Helen of Troy Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HELE#NASDAQ">HELE</a>) fell sharply during Tuesday's session after the company reported soft first-quarter earnings and <a href="https://www.benzinga.com/quote/HELE/earnings">lowered its FY25 guidance</a>.
Helen of Troy reported quarterly earnings of 99 cents per share which missed the analyst consensus estimate of $1.59. The company reported quarterly sales of $416.85 million which missed the analyst consensus estimate of $446.22 million, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Helen of Troy shares dipped 30.3% to $62.06 on Tuesday.
Here are some other stocks moving in today&#8217;s mid-day session.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>Soligenix, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNGX#NASDAQ">SNGX</a>) shares jumped 195% to $5.90 after the company announced interim results for extended HyBryte treatment in early-stage CTCL patients.</li>
<li>uniQure N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QURE#NASDAQ">QURE</a>) shares jumped 55.4% to $5.87 after the company announced updated interim data including up to 24 months of follow-up data from 29 treated patients enrolled in the ongoing U.S. and European Phase I/II clinical trials of AMT-130 for the treatment of Huntington&#8217;s disease.</li>
<li>Pineapple Energy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEGY#NASDAQ">PEGY</a>) gained 54.4% to $1.8550 after the company engaged Conduit Capital to provide structural internal support, staffing, and assistance with capital-raising activities.</li>
<li>Anew Medical, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WENA#NASDAQ">WENA</a>) rose 40% to $2.0350 after the company announced plans to accelerate its Klotho gene therapy program for neurodegenerative disorders.</li>
<li>Expensify, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXFY#NASDAQ">EXFY</a>) rose 32% to $1.9150.</li>
<li>Longeveron Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LGVN#NASDAQ">LGVN</a>) rose 32% to $2.72. Longeveron said Neha Motwani, a senior healthcare investment banker, has been elected to the Longeveron Board of Directors.</li>
<li>Zapp Electric Vehicles Group Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZAPP#NASDAQ">ZAPP</a>) shares rose 31.5% to $12.16 after gaining 127% on Monday.</li>
<li>Silynxcom Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SYNX#NASDAQ">SYNX</a>) jumped 29.6% to $3.59 as the company received $500,000 in orders from the Israel Defense Forces.</li>
<li>Janover Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JNVR#NASDAQ">JNVR</a>) rose 25% to $0.9666 after the company announced that its AI loan advisor generated over 4,000 deals worth over $25 billion to date in 2024. Also, the company announced it facilitated nearly $10 million in funded loans this year.</li>
<li>Kymera Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KYMR#NASDAQ">KYMR</a>) gained 21.7% to $38.91.</li>
<li>Jumia Technologies AG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JMIA#NYSE">JMIA</a>) climbed 20.7% to $10.22 after Benchmark initiated coverage on the stock with a Buy rating and $14 price target.</li>
<li>Myomo, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MYO#NASDAQ">MYO</a>) gained 20% to $4.9233. Myomo recently issued preliminary second-quarter revenue guidance above estimates.</li>
<li>ReShape Lifesciences Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RSLS#NASDAQ">RSLS</a>) climbed 19.8% to $0.2450 after the company announced an all-stock merger with Vyome. Additionally, ReShape will sell its assets to an affiliate of Biorad Medisys for $5.16 million.</li>
<li>Arlo Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARLO#NYSE">ARLO</a>) shares rose 14.5% to $15.80 after the company's subscription service surpassed 4 million paid accounts.</li>
<li>Qilian International Holding Group Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QLI#NASDAQ">QLI</a>) gained 12.2% to $4.39.</li>
<li>Larimar Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRMR#NASDAQ">LRMR</a>) rose 9.9% to $9.00.</li>
<li>Revolution Medicines, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RVMD#NASDAQ">RVMD</a>) climbed 9.7% to $43.37.</li>
<li>Beam Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BEEM#NASDAQ">BEEM</a>) shares gained 9.5% to $7.10 after jumping around 18% on Monday. Beam Global recently announced a year-over-year increase in second-quarter new orders.</li>
<li>Cirrus Logic, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRUS#NASDAQ">CRUS</a>) gained 4.4% to $136.15. Keybanc analyst John Vinh maintained Cirrus Logic with an Overweight and raised the price target from $120 to $155.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>China Liberal Education Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLEU#NASDAQ">CLEU</a>) shares declined 41% to $0.3350.</li>
<li>Indivior PLC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INDV#NASDAQ">INDV</a>) shares dipped 35.3% to $9.93 after the company lowered its FY24 guidance.</li>
<li>Globavend Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GVH#NASDAQ">GVH</a>) fell 32.5% to $0.5555.</li>
<li>Shapeways Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SHPW#NASDAQ">SHPW</a>) fell 30.8% to $0.3376 after jumping 132% on Monday.</li>
<li>Qualigen Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QLGN#NASDAQ">QLGN</a>) fell 21.5% to $0.2201.</li>
<li>Clene Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLNN#NASDAQ">CLNN</a>) fell 17.8% to $0.2852. Clene announced a 1-for-20 reverse stock split effective July 11, 2024.</li>
<li>Novo Integrated Sciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVOS#NASDAQ">NVOS</a>) shares fell 16.4% to $0.6315.</li>
<li>Greenlane Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GNLN#NASDAQ">GNLN</a>) shares fell 15.8% to $0.2436 after gaining 5% on Monday.</li>
<li>Novo Integrated Sciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVOS#NASDAQ">NVOS</a>) declined 15.7% to $0.6359.</li>
<li>Tonix Pharmaceuticals Holding Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TNXP#NASDAQ">TNXP</a>) fell 15.6% to $0.6010 after the company announced pricing of approximately $4.0 million public offering.</li>
<li>Assure Holdings Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IONM#NASDAQ">IONM</a>) fell 15.4% to $4.83.</li>
<li>Applied Digital Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APLD#NASDAQ">APLD</a>) declined 14.5% to $6.11. Applied Digital said it sees fourth-quarter revenue of $41.7 million to $43.7 million versus estimates of $52.36 million.</li>
<li>Helios Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HLIO#NYSE">HLIO</a>) shares declined 13.4% to $40.10 after the company announced leadership team update. The company named Sean Bagan as Interim President and CEO.</li>
<li>Hywin Holdings Ltd &#8211; ADR (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HYW#NASDAQ">HYW</a>) shares fell 10.2% to $0.35 after jumping over 25% on Monday.</li>
<li>Cryoport, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CYRX#NASDAQ">CYRX</a>) shares declined 8.9% to $5.78.</li>
<li>Logistic Properties of the Americas (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LPA#NYSE">LPA</a>) dipped 8.6% to $9.01.</li>
<li>NWTN Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NWTN#NASDAQ">NWTN</a>) fell 7.5% to $1.22.</li>
<li>Albemarle Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALB#NYSE">ALB</a>) fell 7.1% to $92.10. Baird analyst Ben Kallo maintained Albemarle with an Outperform and lowered the price target from $170 to $127.</li>
<li>ChargePoint Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHPT#NYSE">CHPT</a>) declined 7% to $1.7285.</li>
<li>Heartland Express, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HTLD#NASDAQ">HTLD</a>) fell 6.3% to $11.43. JP Morgan analyst Brian Ossenbeck downgraded Heartland Express from Neutral to Underweight and lowered the price target from $12 to $10.</li>
<li>UiPath Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PATH#NYSE">PATH</a>) fell 6% to $12.05 after the company announced it plans restructuring actions to manage its operating expenses that includes a 10% workforce reduction.</li>
<li>BP p.l.c. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BP#NYSE">BP</a>) shares fell 4.3% to $34.99 after the company disclosed the trading update for the second quarter of FY24, with oil trading results expected to be weak after a strong first quarter.</li>
</ul>
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<li><a href="https://www.benzinga.com/news/24/07/39688031/this-bank-of-america-analyst-is-no-longer-bearish-here-are-top-5-upgrades-for-tuesday">This Bank of America Analyst Is No Longer Bearish; Here Are Top 5 Upgrades For Tuesday</a></li>
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Why Helen of Troy Shares Are Trading Lower By Around 30%? Here Are Other Stocks Moving In Tuesday's Mid-Day Session

Offerings

Tonix Pharmaceuticals Prices $4.0M Public Offering Of 7,096,740 Shares At $0.57/Share Or $0.569/Pre-Funded Warrant

WIIM

Tonix Pharmaceuticals Holding shares are trading lower after the company announced a proposed public offering.

Shares of Mainz Biomed N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MYNZ#NASDAQ">MYNZ</a>) rose sharply in today's pre-market trading after the company announced submission for the FDA Breakthrough Device Designation for its next generation CRC screening test.
Mainz Biomed shares jumped 16% to $0.5534 in pre-market trading.
Here are some other stocks moving in pre-market trading.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>Pineapple Energy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEGY#NASDAQ">PEGY</a>) rose 85% to $2.22 in pre-market trading. Pineapple Energy engaged Conduit Capital to provide structural internal support, staffing, and assistance with capital raising activities.</li>
<li>Zapp Electric Vehicles Group Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZAPP#NASDAQ">ZAPP</a>) shares rose 43.5% to $13.26 in pre-market trading after gaining 127% on Monday.</li>
<li>Trinity Place Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TPHS#NYSE">TPHS</a>) shares rose 33.1% to $0.1625 in pre-market trading after gaining around 7% on Monday.</li>
<li>Nuwellis, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NUWE#NASDAQ">NUWE</a>) gained 14.3% to $4.55 in pre-market trading. Nuwellis was recently granted European patent EP3873343 for &#8220;Neonatal And Pediatric Blood Filtration System&#8221;.</li>
<li>Beam Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BEEM#NASDAQ">BEEM</a>) shares gained 13.5% to $7.37 in pre-market trading after jumping around 18% on Monday. Beam Global recently announced a year-over-year increase in second-quarter new orders.</li>
<li>Zapata Computing Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZPTA#NASDAQ">ZPTA</a>) shares climbed 13.3% to $0.6501 in pre-market trading after gaining 7% on Monday. Zapata Computing Holdings and D-Wave Quantum Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QBTS#NYSE">QBTS</a>), on Monday, announced a significant expansion of their joint commercial partnership.</li>
<li>Portage Biotech Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PRTG#NASDAQ">PRTG</a>) gained 8.2% to $0.1601 in pre-market trading.</li>
<li>Galmed Pharmaceuticals Ltd.. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GLMD#NASDAQ">GLMD</a>) rose 7.5% to $0.33 in pre-market trading after declining 7% on Monday.</li>
<li>Nikola Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NKLA#NASDAQ">NKLA</a>) shares gained 7% to $11.22 in pre-market trading after surging around 17% on Monday.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>Indivior PLC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INDV#NASDAQ">INDV</a>) shares fell 43.2% to $8.71 in pre-market trading after the company lowered its fiscal 2024 guidance.</li>
<li>Shapeways Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SHPW#NASDAQ">SHPW</a>) shares fell 21.5% to $0.3821 in pre-market trading after jumping 132% on Monday.</li>
<li>Greenlane Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GNLN#NASDAQ">GNLN</a>) shares declined 18.1% to $0.2370 in pre-market trading after gaining 5% on Monday.</li>
<li>Tonix Pharmaceuticals Holding Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TNXP#NASDAQ">TNXP</a>) fell 15.8% to $0.5998 in pre-market trading after announcing a proposed public offering.</li>
<li>Novo Integrated Sciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVOS#NASDAQ">NVOS</a>) shares fell 13.8% to $0.65 in pre-market trading.</li>
<li>Hywin Holdings Ltd &#8211; ADR (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HYW#NASDAQ">HYW</a>) shares dipped 12.7% to $0.34 in pre-market trading after jumping over 25% on Monday.</li>
<li>Inuvo, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/INUV#NYSE">INUV</a>) shares fell 10.6% to $0.2342 in pre-market trading.</li>
<li>Helios Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HLIO#NYSE">HLIO</a>) shares declined 10.1% to $41.67 in pre-market trading after the company announced leadership team update. The company named Sean Bagan as Interim President and CEO.</li>
<li>Avalon GloboCare Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALBT#NASDAQ">ALBT</a>) shares fell 9.8% to $0.46 in pre-market trading after declining over 4% on Monday.</li>
<li>Qualigen Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QLGN#NASDAQ">QLGN</a>) fell 8.5% to $0.2562 in pre-market trading.</li>
</ul>
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Pre-Market Outlook

ALBT

GLMD

INUV

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NUWE

PRTG

QBTS

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ZPTA

Why Mainz Biomed Shares Are Trading Higher By Around 16%; Here Are 20 Stocks Moving Premarket

All of the securities to be sold in the offering are to be offered by Tonix.&nbsp;The Company intends to use the net proceeds from the offering for working capital and general corporate purposes, including the preparation of the new drug application relating to its Tonmya&trade; product candidate in patients with fibromyalgia, and the satisfaction of any portion of its existing indebtedness.

Tonix Pharmaceuticals Intends To Offer And Sell Shares Of Its Common Stock Or Pre-funded Warrants In Lieu Thereof

Tonix Pharmaceuticals Holding Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TNXP#NASDAQ">TNXP</a>) shares are trading lower by 11.3% to $0.71 during Monday&#8217;s session after the company announced receipt of the formal minutes from a recent pre-New Drug Application meeting with the FDA for <a href="https://www.benzinga.com/pressreleases/24/07/g39664204/tonix-pharmaceuticals-reports-final-positive-pre-nda-meeting-with-fda-for-tonmya-for-the-managemen">Tonmya for the management of fibromyalgia</a>.
<h2 class="wp-block-heading">What Happened?</h2>
Tonix Pharmaceuticals earlier Monday announced that it received formal minutes from a recent pre-New Drug Application (NDA) meeting with the FDA regarding Tonmya&#x2122; (cyclobenzaprine HCl sublingual tablets) for fibromyalgia management. Both parties agreed that the data package is sufficient for NDA submission, which Tonix plans to submit in the second half of 2024, aiming for potential FDA approval in the second half of 2025. 
CEO Seth Lederman highlighted the potential benefits of Tonmya for fibromyalgia patients, particularly as an alternative to opioids. Additionally, a prior meeting on June 20, confirmed alignment on key Chemistry, Manufacturing, and Controls (CMC) topics necessary for the NDA. 
The company says this latest announcement confirms agreement on nonclinical, clinical pharmacology and clinical aspects.
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<h2 class="wp-block-heading">Is TNXP A Good Stock To Buy?</h2>
An investor can make a few decisions when deciding whether a stock is a good buy. In addition to valuation metrics and price action which you can find on Benzinga's quote pages &#8211; like <a href="https://www.benzinga.com/quote/TNXP">Tonix Pharmaceuticals</a>&#8216;s page for example &#8211; there are factors like whether or not a company pays a dividend or buys a large portion of its stock each quarter.
These are known as capital allocation programs. Tonix Pharmaceuticals does not pay a dividend, but obviously has a few ways it can return value to shareholders. Feel free to search Benzinga's <a href="https://www.benzinga.com/calendars/dividends">dividend calendar</a> for the next company that is due to pay a dividend and determine what kind of yield you can earn for holding a share of the company.
For example, if you're looking to earn an annualized return of 12.91%, you'll need to buy a share of Highland Glb Allocation by the Sep. 23, 2024. Once done, you can expect to receive a nominal payout of $0.08 on Sep. 30, 2024.
Buyback programs are obviously different and highly variable. A company can approve a buyback program and purchase shares as it sees fit over the course of time in which the buyback was authorized. Looking through the latest news on <a href="https://www.benzinga.com/quote/TNXP">Tonix Pharmaceuticals</a> will often yield whether or not the company has approved a buyback program recently. Buyback programs usually serve as a support for share prices, serving as a backstop for demand.
According to data from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>, TNXP has a 52-week high of $60.16 and a 52-week low of $0.60.

Why Tonix Pharmaceuticals (TNXP) Stock Is Falling

Tonix Pharmaceuticals Holdings shares are trading lower after the company announced receipt of the formal minutes from a recent pre-New Drug Application meeting with the FDA for Tonmya for the management of fibromyalgia.

Tonmya is a potential new first-line, centrally acting non-opioid analgesic for the management of fibromyalgia &nbsp;
Approximately 10 million adults in the U.S. are affected by fibromyalgia, predominantly women
NDA submission target confirmed for second half 2024, with potential for FDA approval in second half 2025

Tonix Pharmaceuticals Reports Final Pre-NDA Meeting With FDA For Tonmya For Management Of Fribromyalgia

On Monday, Tonix Pharmaceuticals Holding Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TNXP#NASDAQ">TNXP</a>) was awarded an Other Transaction Agreement (OTA) with a potential value of up to $34 million over five years by the Defense Threat Reduction Agency (DTRA), an agency within the U.S. <a target="_blank" href="https://www.benzinga.com/pressreleases/24/07/g39572562/tonix-pharmaceuticals-awarded-up-to-34-million-u-s-department-of-defense-contract-for-accelerated-" rel="noreferrer noopener">Department of Defense (DoD)</a>.
According to data from <a target="_blank" href="https://www.benzinga.com/pro/feature/newsfeed" rel="noreferrer noopener">Benzinga Pro</a>, the shares are trading on a strong session volume of 5.74 million and have a market cap of $4.9 million.
The contract&#8217;s objective is to develop small-molecule broad-spectrum antiviral agents for the prevention or treatment of infections, improving the medical readiness of military personnel in biological threat environments.
Tonix&#8217;s program will focus on optimizing and developing its TNX-4200 program to develop an orally available CD45 antagonist with broad-spectrum efficacy against a range of viral families through preclinical evaluation.
The program is expected to establish physicochemical properties, pharmacokinetics, and safety attributes to support an Investigational New Drug submission and fund a first-in-human Phase 1 clinical study.
&#8220;Through our agreement with DTRA, our broad-spectrum antiviral research program will address the DoD&#8217;s goal of protecting U.S. Joint Forces in the event biological weapons are introduced onto the battlefield,&#8221; said Seth Lederman, President and CEO of Tonix.
&#8220;The DoD announced in December 2022 that they are moving beyond a &#8216;one bug, one drug&#8217; approach and are seeking broad-spectrum drugs since one cannot predict which or how many viruses may be deployed. This funding provides important validation for our ongoing research and current in-house capabilities and will enable Tonix to advance its antiviral discovery program.&#8221;
This program has the potential to reduce viral load and allow the adaptive immune system to alert the other arms of the immune system to mount a protective response.
Tonix plans to leverage previous research on phosphatase inhibitors, specifically compounds that target CD45, to optimize lead compounds for therapeutic intervention of biothreat agents and provide the government with a complete and cost-effective solution for a broad-spectrum medical countermeasure.
Tonix&#8217;s premise is that partial inhibition of CD45 will provide optimal antiviral protection while requiring lower plasma drug concentrations, a lower dose, and a better safety profile.
Tonix will utilize its research laboratory capabilities at its research and development center in Frederick, Md., as well as experienced personnel in-house.
Price Action: TNXP shares are up 3.34% at $0.72 at last check Monday. During premarket trading, shares reached as high as 0.91.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/general/biotech/24/06/39328746/this-biopharma-stock-is-trading-23-higher-in-pre-market-after-wrapping-up-4m-public-offering" target="_blank" rel="noreferrer noopener">This Biopharma Stock Is Trading 23% Higher In Premarket After Wrapping Up $4M Public Offering</a>.</li>
</ul>

Government

Health Care

Contracts

Nano-Cap Tonix Pharmaceuticals Secures Large US Department of Defense Contract

Tonix Pharmaceuticals Holding shares are trading lower. The company announced that it entered into an agreement with the Defense Threat Reduction Agency for $34 million to develop broad-spectrum antiviral TNX-4200.

Tonix Pharmaceuticals Entered Agreement With Defense Threat Reduction Agency For $34M To Develop Broad-Spectrum Antiviral, TNX-4200, Through Phase 1 Clinical Evaluation

Tonix Pharmaceuticals Holding shares are trading lower after the company announced the pricing of an approximately $4 million public offering of 7,060,918 shares at $0.57 per share.

Tonix Pharmaceuticals Prices  ~$4M Public Offering Of 7,060,918 Shares At $0.57/Share

With U.S. stock futures trading lower this morning on Thursday, some of the stocks that may grab investor focus today are as follows:
<ul>
<li>Wall Street expects Walgreens Boots Alliance, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBA#NASDAQ">WBA</a>) to report quarterly earnings at $0.71 per share on revenue of $36.00 billion before the opening bell, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. Walgreens shares gained 0.6% to $15.75 in after-hours trading.</li>
<li>Micron Technology Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>) reported stronger-than-expected financial results for the third quarter. Micron said it sees fourth-quarter revenue of $7.6 billion, plus or minus $200 million, versus estimates of $7.6 billion. The company expects fourth-quarter adjusted earnings to be between $1 and $1.16 per share versus estimates of $1.05 per share. Micron shares fell 8% to $131.00 in the after-hours trading session.</li>
<li>Analysts are expecting NIKE, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NKE#NYSE">NKE</a>) to post quarterly earnings at $0.85 per share on revenue of $12.91 billion. The company will release earnings after the markets close. NIKE shares gained 0.3% to $94.35 in after-hours trading.</li>
</ul>
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<ul>
<li>Tonix Pharmaceuticals Holding Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TNXP#NASDAQ">TNXP</a>) reported a proposed public offering. Tonix Pharmaceuticals shares dipped 28% to $0.8101 in the after-hours trading session.</li>
<li>Analysts expect Acuity Brands, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AYI#NYSE">AYI</a>) to post quarterly earnings at $4.13 per share on revenue of $1.01 billion before the opening bell. Acuity Brands shares gained 0.1% to $239.99 in after-hours trading.</li>
</ul>
Check This Out: <a href="https://www.benzinga.com/24/06/39499222/top-3-materials-stocks-that-may-explode-in-q2">Top 3 Materials Stocks That May Explode In Q2</a>

Earnings

Equities

Nike, Micron And 3 Stocks To Watch Heading Into Thursday

Tonix Pharmaceuticals Announces Proposed Public Offering; Size Not Disclosed

Tonix Pharmaceuticals Regains Compliance with Nasdaq Minimum Bid Price Requirement; Receives Confirmation Letter from Nasdaq

Tonix Pharmaceuticals's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TNXP#NYSE">TNXP</a>) short percent of float has risen 3126.83% since its last report. The company recently reported that it has 789 thousand shares sold short, which is 26.46% of all regular shares that are available for trading. Based on its trading volume, it would take traders 1.0 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Tonix Pharmaceuticals Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1719247521_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Tonix Pharmaceuticals has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Tonix Pharmaceuticals's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Tonix Pharmaceuticals's peer group average for short interest as a percentage of float is 2.05%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

Peering Into Tonix Pharmaceuticals's Recent Short Interest

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Tonix Pharmaceuticals&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/tnxp-stock-quote/">TNXP</a>) stock is falling on Thursday after the biopharmaceutical company announced a <a href="https://finance.yahoo.com/news/tonix-pharmaceuticals-announces-proposed-public-204000580.html">proposed public offering</a> for its shares.



Tonix Pharmaceuticals doesn&rsquo;t have the finer details of this offering ready just yet. That means we don&rsquo;t know how many shares it includes, what they will be priced at or how much it expects in gross proceeds.



What we do know is what the company plans to do with the money it will raise. Tonix Pharmaceuticals says funds from this proposed offering will go toward working capital and general corporate purposes.



To be more specific, Tonix Pharmaceuticals wants to use the money to prepare a new drug application for its Tonmya product candidate to treat fibromyalgia. It could also use the funds to pay down its debts.



<h2>TNXP Stock Nasdaq Compliance</h2>



Investors will note that Tonix Pharmaceuticals announced this proposed public offering <a href="https://finance.yahoo.com/news/tonix-pharmaceuticals-regains-compliance-nasdaq-191300480.html">right after regaining compliance</a> with the Nasdaq Exchange&rsquo;s listing requirements.



Tonix Pharmaceuticals did this by getting its share price above the $1.00 minimum bid for 10 consecutive trading days. After announcing its public offering, the shares are trading at about 76 cents each this morning.



TNXP stock is down 32.5% as of Thursday morning.



Investors will want to keep reading for more of the latest stock market stories today!



We are offering all of the most recent stock market news for Thursday! That includes all of the latest news concerning shares of Branchout Food&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/bof-stock-quote/">BOF</a>) stock, Ur-Energy&nbsp;(NYSEMKT:<a href="https://investorplace.com/stock-quotes/urg-stock-quote/">URG</a>)&nbsp;stock and Vigil Neuroscience&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/vigl-stock-quote/">VIGL</a>) stock this morning. You can catch up on all of this news by checking out the links below!



<h2>More Stock Market News for Thursday</h2>



<ul><li><a href="https://investorplace.com/2024/06/why-is-branchout-food-bof-stock-down-39-today/">Why Is Branchout Food (BOF) Stock Down 39% Today?</a></li>



<li><a href="https://investorplace.com/2024/06/trade-of-the-day-ur-energy-urg-stock-is-a-high-risk-bet-on-ai-demand/">Trade of the Day: Ur-Energy (URG) Stock Is a High-Risk Bet on AI Demand</a></li>



<li><a href="https://investorplace.com/2024/06/why-is-vigil-neuroscience-vigl-stock-up-32-today/">Why Is Vigil Neuroscience (VIGL) Stock Up 32% Today?</a></li>
</ul>On Penny Stocks and Low-Volume Stocks:&#8239;With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That&rsquo;s because these &ldquo;penny stocks&rdquo; are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that&#8239;InvestorPlace.com&rsquo;s writers disclose this fact and warn readers of the risks.



Read More:&#8239;Penny Stocks &mdash;&nbsp;<a href="https://investorplace.com/2014/05/fraud-penny-stocks-scams/" target="_blank">How to Profit Without Getting Scammed</a>



On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the&nbsp;InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
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Why Is Tonix Pharmaceuticals (TNXP) Stock Down 33% Today?

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Amazon (NASDAQ:<a href="https://investorplace.com/stock-quotes/amzn-stock-quote/">AMZN</a>) stock is a hot topic among traders on Thursday as the e-commerce giant has joined the $2 trillion club.



Amazon now has a market capitalization that is more than $2 trillion. This was <a href="https://finance.yahoo.com/quote/AMZN/">sitting at $2.036 trillion</a> as of this writing.



That&rsquo;s massive news for Amazon as it makes it <a href="https://companiesmarketcap.com/">only the fifth company</a> with a market capitalization higher than $2 trillion. The other four are Microsoft (NASDAQ:<a href="https://investorplace.com/stock-quotes/msft-stock-quote/">MSFT</a>), Apple (NASDAQ:<a href="https://investorplace.com/stock-quotes/aapl-stock-quote/">AAPL</a>), Nvidia (NASDAQ:<a href="https://investorplace.com/stock-quotes/nvda-stock-quote/">NVDA</a>) and Alphabet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>, GOOG))).



<h2>What&rsquo;s Behind the AMZN Stock Increase?</h2>



Amazon was able to surpass the $2 trillion market cap with strong growth so far in 2024. This has the company&rsquo;s shares up 30.3% since the start of the year. It closed out Wednesday with shares priced at $193.61 each.



Investors will note that Amazon has been going through <a href="https://www.cnbc.com/2024/06/26/amazon-reaches-2-trillion-market-cap-for-the-first-time.html">major cost-cutting initiatives</a> over the last couple of years. That&rsquo;s resulted in a large number of layoffs and other changes to reduce spending.



Another factor that helped Amazon reach $2 trillion was the pandemic. Lockdowns encouraged online spending and it&rsquo;s the market leader in that space. This saw it reach $2 trillion in market cap after only hitting $1 trillion in 2020.



AMZN stock is up 1.2% as of Thursday morning.



Investors can find even more of the latest stock market stories below!



We have all of the most recent stock market stories ready to go on Thursday! Among that is what has shares of NVDA, Micron Technology&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/mu-stock-quote/">MU</a>) and Tonix Pharmaceuticals&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/tnxp-stock-quote/">TNXP</a>) stock moving today. All of this news is ready at the links below!



<h2>More Thursday Stock Market News</h2>



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<li><a href="https://investorplace.com/2024/06/mu-stock-plunges-as-micron-fails-to-live-up-to-ai-hype/">MU Stock Plunges as Micron Fails to Live Up to AI Hype</a></li>



<li><a href="https://investorplace.com/2024/06/why-is-tonix-pharmaceuticals-tnxp-stock-down-33-today/">Why Is Tonix Pharmaceuticals (TNXP) Stock Down 33% Today?</a></li>
</ul>On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the&nbsp;InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
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Tonix Pharmaceuticals secures $34M DoD contract for antiviral program

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
It&rsquo;s a good time to consider how your portfolio&rsquo;s doing now that we&rsquo;re halfway through 2024. While the S&amp;P 500 and the Nasdaq composite both show gains more than16%, the Dow Jones Industrial Average lags with a gain of only 4% for the year. It&rsquo;s time to look for F-rated stocks to sell.



When you&rsquo;re choosing your own stocks to invest, your goal is to outperform the indexes, or the performance that you would have by putting your money into an index fund. That means that to succeed in 2024, your portfolio should show at least a 20% gain right now.



If it&rsquo;s not, then you should be looking to make changes. And you should be figuring out if you have F-rated stocks to sell before they inflict any more damage to your holdings.



Just having one or two F-rated stocks to sell can suck the juicy returns out of any portfolio. 



With the market still red-hot for <a href="https://investorplace.com/industries/technology/">technology stocks</a> involved in advancing artificial intelligence, it doesn&rsquo;t make any sense for any investor to hold onto their F-rated stocks when there are better ones to choose from.



The Portfolio Grader will tell you if you have any F-rated stocks to sell. It&rsquo;s a free tool that evaluates stocks based on earning performance, growth, momentum and analyst sentiment. 



I&rsquo;ve collected the names of a few of these disappointing equities &mdash; if you&rsquo;re investing in any of these names, you need to make some changes.



<h2>Virgin Galactic (SPCE)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/03/spce1600-300x169.jpg" alt="Virgin Galactic (SPCE) billboard on the New York Stock Exchange, across from the Fearless Girl statue. aerospace stocks"><div>Source: Tun Pichitanon / Shutterstock.com</div></div>Virgin Galactic (NYSE:<a href="https://investorplace.com/stock-quotes/spce-stock-quote/">SPCE</a>) was once a hot stock &mdash; it sold investors and speculators alike on the idea of space tourism, in which anyone could pay $250,000 and take an unforgettable journey outside the Earth&rsquo;s atmosphere.



Founder Richard Branson is a dreamer and visionary, and he even managed to win the so-called billionaire space race by beating SpaceX (operated by Elon Musk) and Blue Origin (owned by Jeff Bezos) into suborbital flight.



But as time marches on and delays mount, investors lost a lot of confidence in the stock. The company was forced to go through the embarrassing spectacle of a 1-for-20 reverse stock split just to get the stock price back over $1 and maintain New York Stock Exchange listing requirements.



But the split may have been the final straw for many investors. SPCE stock dropped dramatically on the heels of the reverse split announcement.



Virgin Galactic has been a publicly traded company for five years, but it&rsquo;s no closer to achieving Branson&rsquo;s vision. The plan now is to complete and launch its Delta line of ships in 2026.



I think it&rsquo;s more likely that SPCE stock will go belly-up before it can have a consistent product to sell. Virgin Galactic stock is down 83% this year and gets an &ldquo;F&rdquo; rating in the Portfolio Grader.



<h2>Plug Power (PLUG)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/03/plug1600-7-300x169.png" alt="In this photo illustration, the Plug Power logo is displayed on a smartphone screen"><div>Source: rafapress / Shutterstock.com</div></div>Plug Power (NASDAQ:<a href="https://investorplace.com/stock-quotes/plug-stock-quote/">PLUG</a>) stock is another name that showed a lot of promise a few years ago. The company makes batteries that uses hydrogen and oxygen to produce electricity, with water vapor as being the only byproduct.



It seemed to be an ideal solution for corporations and cities that were looking to convert to green energy standards rather than burning through coal, petroleum or natural gas. But Plug Power continues to be a deeply unprofitable venture.



The first quarter saw Plug report revenue of $68.2 million, which was down from $182 million in the previous year. Losses were $159 million, which is a big increase from the $69.3 million it lost in the same quarter a year ago.



Plug <a href="https://www.ir.plugpower.com/press-releases/news-details/2024/Plug-Announces-First-Quarter-2024-Financial-Results/default.aspx">acknowledged</a> the slow start to the year and says that it expects revenue to increase in the second half the year. But even if correct, the company is a long way from turning a profit.



For investors, PLUG stock is a risk that you shouldn&rsquo;t be taking if you want to outperform the stock market. Plug Power stock is down 45% this year and gets an &ldquo;F&rdquo; rating in the Portfolio Grader.



<h2>Chegg (CHGG)</h2>



<div><img width="300" height="200" src="https://investorplace.com/wp-content/uploads/2019/02/chggmsn-300x200.jpg" alt="A photo of a Chegg Inc (CHGG) sign outside a building."><div>Source: Shutterstock</div></div>That brings us to Chegg (NYSE:<a href="https://investorplace.com/stock-quotes/chgg-stock-quote/">CHGG</a>), a California educational services company that is going under tremendous changes thanks to the progression of artificial intelligence.



Chegg offers help to students, including homework assistance. It also does online tutoring and rents textbooks.



The problem that Chegg faces is that generative AI gives students new tools to do their homework. ChatGPT can quickly write a 2,000-word essay on Hamlet or Macbeth. 



While that&rsquo;s not a great solution, it&rsquo;s an easy way for kids to get homework help &mdash; or even have their homework done for them. Free AI assistance is a legitimate threat to Chegg&rsquo;s paid business model. And that&rsquo;s why the company is struggling.



In June, the company announced a broad restructuring that involves reducing its head count by 441 employees (23% of the global head count), expanding the international program, and to focus on students who &ldquo;are seeking positive learning outcomes and holistic support.&rdquo;



Chegg says that it expects to see savings between $40 million and $50 million starting in 2025.



Investor reaction has been muted, as the stock really hasn&rsquo;t moved since the mid-June announcement. For the year, CHGG is down 74% and is mired with an &ldquo;F&rdquo; rating in the Portfolio Grader.



<h2>Tonix Pharmaceuticals (TNXP)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/03/pharmaceuticals_tnxp_1600-300x169.png" alt="medicine research, pharmaceutical background, LJPC stock"><div>Source: Sisacorn / Shutterstock.com</div></div>Investing in biopharmaceutical companies can be a challenge. It&rsquo;s not for every investor, particularly when you&rsquo;re working with a company that hasn&rsquo;t developed a strong pipeline of drugs. Often, newer biopharma companies are <a href="https://investorplace.com/stock-types/penny-stocks/">penny stocks</a> because investors aren&rsquo;t willing to gamble on a product that could take years to get through the research and development pipeline &mdash; often with nothing to show for it.



Tonix Pharmaceuticals (NASDAQ:<a href="https://investorplace.com/stock-quotes/tnxp-stock-quote/">TNXP</a>) works to create drugs and therapies to treat disorders of the central nervous system. It hasn&rsquo;t brought a drug to market yet, but it has a candidate in Phase 3 testing as a possible treatment for fibromyalgia. Tonix also has a therapy in Phase 2 trials that would treat long Covid-19 symptoms.



The company is battling to raise money, with <a href="https://ir.tonixpharma.com/news-events/press-releases/detail/1490/tonix-pharmaceuticals-announces-closing-of-4-0-million">two separate $4 million public offerings in June</a> that added millions of new shares, diluting investors&rsquo; positions at the same time. Tonix also completed a 1-for-32 reverse stock split to regain Nasdaq listing compliance.



The company reported a <a href="https://ir.tonixpharma.com/news-events/press-releases/detail/1469/tonix-pharmaceuticals-reports-first-quarter-2024-financial">net loss of $14.9 million in the first quarter,</a> or 18 cents per share. It only had $7 million in cash on hand at the end of the quarter, which is why raising money was so important.



But the bottom line here is that there are much better pharma companies to invest in now &mdash; particularly if you&rsquo;re trying to get your portfolio up to par in 2024.



TNXP stock is already back below $1 per share, having dropped 93% in 2024. It gets an &ldquo;F&rdquo; rating in the Portfolio Grader.



<h2>Nauticus Robotics (KITT)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/07/robotics-medical-1600-300x169.jpg" alt="robotic arms over medical bed symbolizing medical robotics. favorite robotics stocks to buy"><div>Source: shutterstock.com/MAD.vertise</div></div>Nauticus Robotics (NASDAQ:<a href="https://investorplace.com/stock-quotes/kitt-stock-quote/">KITT</a>) uses robots underwater to help customers manage and maintain energy, aquaculture and security systems. The idea is that Nauticus&rsquo; robots reduce the need for dive teams and the boat personnel to assist those divers.



And it&rsquo;s making some headway. Nauticus reported that it successfully tested its AUV Aquanaut Mark 2 in the Gulf of Mexico at a depth of 1,300 feet. The company is assembling a second vehicle in Florida, with hopes that both will be generating revenue by the fourth quarter of this year.



But that doesn&rsquo;t reduce the risk of holding KITT stock. The company only had revenue of $500,000 in the first quarter with operating expenses of $6 million. 



It added <a href="https://ir.nauticusrobotics.com/news-events/press-releases/detail/55/nauticus-robotics-announces-results-for-the-first-quarter">$13.3 million</a> in new debt to keep the doors open and to pay for testing. It also won shareholder approval for a <a href="https://ir.nauticusrobotics.com/sec-filings/all-sec-filings">reverse stock split</a> in the future, that could be anywhere from 1-to-6 or as much as 1-to-70.



KITT stock sells for less than 14 cents per share and is down more than 80% in 2024. It gets an &ldquo;F&rdquo; rating in the Portfolio Grader.



<h2>Ginkgo Bioworks (DNA)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/08/dna_ginkobioworks1600-300x169.png" alt="Person holding mobile phone with logo of American biotechnology company Ginkgo Bioworks Inc. on screen in front of web page. Focus on phone display. Unmodified photo. DNA stock"><div>Source: T. Schneider / Shutterstock.com</div></div>Ginkgo Bioworks (NYSE:<a href="https://investorplace.com/stock-quotes/dna-stock-quote/">DNA</a>) is a Boston company founded by five scientists. It uses genetic engineering to produce bacteria for industrial applications for other biotech companies. But it&rsquo;s been more in the news lately for its across-the-board layoffs and cost-cutting measures.



Ginkgo laid off over 400 workers, or at least 35% of its workforce as part of a multiyear cost-cutting plan. Exchange-traded funds owned by ARK Invest and managed by Cathie Wood <a href="https://www.genengnews.com/gen-edge/stockwatch-layoffs-ark-selloff-sink-ginkgo-bioworks/#:~:text=Stung%20by%20Scorpion&amp;text=Scorpion%20denounced%20Ginkgo%20as%20employing,Capital%20contended%20in%20October%202021.">sold off more than 70 million shares of DNA stock</a> &mdash; an apparent indication that Wood has lost confidence in the company&rsquo;s growth potential.



Earnings for the first quarter included revenue of $37.9 million, down from $80.7 million a year ago. The company posted a loss of $165.9 million for the quarter or 8 cents per share.



DNA stock is down 77% this year and gets an &ldquo;F&rdquo; rating in the Portfolio Grader.



<h2>Workhorse (WKHS)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/06/wkhs1600-300x169.png" alt="Person holding cellphone with logo of American electric vehicle company Workhorse Group Inc. (WKHS) on screen in front of webpage. Focus on phone display. Unmodified photo."><div>Source: T. Schneider / Shutterstock.com</div></div>Workhorse (NASDAQ:<a href="https://investorplace.com/stock-quotes/wkhs-stock-quote/">WKHS</a>). The company is an electric vehicle company that provides commercial products for last-mile delivery.



A couple of years ago, Workhorse was considered by many to be a can&rsquo;t-miss stock because the U.S. Postal Service was looking to replace its 229,000 mail trucks with an EV product. 



Workhorse appeared to be suited for the job and was one of three finalists before the contract was awarded to Oshkosh Defense, a subsidiary of Oshkosh (NYSE:<a href="https://investorplace.com/stock-quotes/osk-stock-quote/">OSK</a>). 



Workhorse immediately lost billions in market capitalization and never recovered. It only generated $13 million in sales in 2023, with a loss of $123 million.



Revenue in the first quarter was only <a href="https://ir.workhorse.com/news-events/press-releases/detail/257/workhorse-group-reports-first-quarter-2024-results">$1.3 million</a>, while the company posted a net loss of $29.1 million and 10 cents per share for the quarter.



WKHS just regained Nasdaq compliance by completing a 1-for-20 reverse stock split, but that doesn&rsquo;t make the stock any more palatable. Workhorse is down 81% in 2024 and gets an &ldquo;F&rdquo; rating in the Portfolio Grader.



On the date of publication, neither Louis&nbsp;Navellier nor the InvestorPlace Research Staff member primarily responsible for this article held (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com <a href="https://url.us.m.mimecastprotect.com/s/AAadCPNlWWs3yKYns0yRM6?domain=investorplace.com/">Publishing Guidelines</a>.
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<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
It&rsquo;s time to start the day with a breakdown of the biggest pre-market stock movers traders need to know about on Tuesday morning!



Moving stocks this morning are earnings reports, new agreements, public offerings and more.



We have all of that news ready below!



<h2>Biggest Pre-Market Stock Movers: 10 Top Gainers</h2>



<ol><li>Pineapple Energy (NASDAQ:<a href="https://investorplace.com/stock-quotes/pegy-stock-quote/">PEGY</a>) stock is rocketing more than 83% after <a href="https://www.nasdaq.com/press-release/pineapple-energy-formalizes-agreement-conduit-capital-services-and-pursue-working">announcing a new collaboration</a>.</li>



<li>Anew Medical (NASDAQ:<a href="https://investorplace.com/stock-quotes/wena-stock-quote/">WENA</a>) shares are soaring over 67% on <a href="https://www.nasdaq.com/press-release/anew-medical-advance-patented-klotho-gene-therapy-neurodegenerative-disorder">therapy advancement plans</a>.</li>



<li>Zapp Electric Vehicles (NASDAQ:<a href="https://investorplace.com/stock-quotes/zapp-stock-quote/">ZAPP</a>) stock is surging more than 47% without any clear news this morning.</li>



<li>60 Degrees (NASDAQ:<a href="https://investorplace.com/stock-quotes/sxtp-stock-quote/">SXTP</a>) shares are gaining over 23% on <a href="https://www.nasdaq.com/press-release/60-degrees-pharma-announces-irb-approval-clinical-study-tafenoquine-treatment">approval of a clinical study</a>.</li>



<li>Trinity Place (NYSEMKT:<a href="https://investorplace.com/stock-quotes/tphs-stock-quote/">TPHS</a>) stock is rising more than 23% with heavy pre-market trading.</li>



<li>Mainz Biomed (NASDAQ:<a href="https://investorplace.com/stock-quotes/mynz-stock-quote/">MYNZ</a>) shares are climbing over 17% after <a href="https://www.nasdaq.com/press-release/mainz-biomed-announces-submission-fda-breakthrough-device-designation-its-next">submitting a test</a> for breakthrough designation.</li>



<li>TC BioPharm (NASDAQ:<a href="https://investorplace.com/stock-quotes/tcbp-stock-quote/">TCBP</a>) stock is jumping more than 17% despite a lack of news.</li>



<li>Interactive Strength (NASDAQ:<a href="https://investorplace.com/stock-quotes/trnr-stock-quote/">TRNR</a>) shares are heading over 13% higher on a <a href="https://www.nasdaq.com/press-release/interactive-strength-inc-nasdaq-trnr-secures-exclusive-distribution-clmbr-fast">distribution agreement and order</a>.</li>



<li>YY Group (NASDAQ:<a href="https://investorplace.com/stock-quotes/yygh-stock-quote/">YYGH</a>) stock is increasing more than 12% without any obvious news.</li>



<li>Srivaru (NASDAQ:<a href="https://investorplace.com/stock-quotes/svmh-stock-quote/">SVMH</a>) shares are up over 12% on <a href="https://www.nasdaq.com/press-release/srivaru-svmh-deploys-advanced-ai-platform-manage-lead-generation-platform-prana-20">artificial intelligence (AI) platform deployment</a>.</li>
</ol><h2>10 Top Losers</h2>



<ol><li>Indivior (NASDAQ:<a href="https://investorplace.com/stock-quotes/indv-stock-quote/">INDV</a>) stock is plummeting more than 36% alongside a <a href="https://www.nasdaq.com/press-release/indivior-provides-business-update-conference-call-8-00-am-us-edt-2024-07-09">worrying business update</a>.</li>



<li>Helen Of Troy (NASDAQ:<a href="https://investorplace.com/stock-quotes/hele-stock-quote/">HELE</a>) shares are diving over 23% with the <a href="https://www.nasdaq.com/press-release/helen-troy-limited-reports-first-quarter-fiscal-2025-results-2024-07-09">release of its latest earnings report</a>.</li>



<li>Shapeways (NASDAQ:<a href="https://investorplace.com/stock-quotes/shpw-stock-quote/">SHPW</a>) stock is tumbling more than 19% <a href="https://investorplace.com/2024/07/why-is-shapeways-shpw-stock-up-84-today/">after a rally yesterday</a>.</li>



<li>Novo Integrated Sciences (NASDAQ:<a href="https://investorplace.com/stock-quotes/nvos-stock-quote/">NVOS</a>) shares are taking an over 17% beating on a <a href="https://app.quotemedia.com/data/downloadFiling?webmasterId=90423&amp;ref=318441400&amp;type=PDF&amp;symbol=NVOS&amp;cdn=2b225bb2253ffcb31b2332a6ef2a7e6d&amp;companyName=Novo+Integrated+Sciences+Inc.&amp;formType=S-1&amp;formDescription=Registration+statement+under+Securities+Act+of+1933&amp;dateFiled=2024-07-08">proposed public offering</a>.</li>



<li>Greenlane (NASDAQ:<a href="https://investorplace.com/stock-quotes/gnln-stock-quote/">GNLN</a>) stock is sliding more than 14% with strong pre-market trading.</li>



<li>Tonix Pharmaceuticals (NASDAQ:<a href="https://investorplace.com/stock-quotes/tnxp-stock-quote/">TNXP</a>) shares are decreasing 13% on a <a href="https://finance.yahoo.com/news/tonix-pharmaceuticals-announces-proposed-public-210000234.html">proposed public offering</a>.</li>



<li>Above Food Ingredients (NASDAQ:<a href="https://investorplace.com/stock-quotes/abve-stock-quote/">ABVE</a>) stock is falling over 11% without any apparent news.</li>



<li>Qualigen Therapeutics (NASDAQ:<a href="https://investorplace.com/stock-quotes/qlgn-stock-quote/">QLGN</a>) shares are retreating 11% on Tuesday morning.</li>



<li>Helios Technologies (NYSE:<a href="https://investorplace.com/stock-quotes/hlio-stock-quote/">HLIO</a>) stock is slipping more than 10% on <a href="https://www.nasdaq.com/press-release/helios-technologies-announces-leadership-team-update-2024-07-08">changes to its leadership team</a>.</li>



<li>Inuvo (NYSEMKT:<a href="https://investorplace.com/stock-quotes/inuv-stock-quote/">INUV</a>) shares close out our pre-market stock movers down over 10%.</li>
</ol>On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the&nbsp;InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
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	The post <a href="https://investorplace.com/2024/07/todays-biggest-pre-market-stock-movers-10-top-gainers-and-losers-on-tuesday-july-9th/">Today's Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Tuesday</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

Today's Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Tuesday

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Tonix Pharma Accelerates Fibromyalgia Treatment with FDA Fast Track

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Screenshot 2024-02-24 at 12.03.42 AM

ABBV

New Drug Study Shows Improving Sleep Quality Can Relieve Fibromyalgia Pain

Press Releases

Tonix Pharmaceuticals Reports Final Positive Pre-NDA Meeting with FDA for Tonmya™ for the Management of Fibromyalgia

Tonix Pharmaceuticals Announces Proposed Public Offering

Tonix Pharmaceuticals Announces Pricing of Approximately $4.0 Million Public Offering

Financing

Tonix Pharmaceuticals Announces Closing of $4.0 Million Public Offering

Tonix Pharmaceuticals, Set to File an NDA for Tonmya for the Management of Fibromyalgia, is Planning Expected Launch in 2H 2025

Tonix Pharmaceuticals receives positive feedback from FDA on Tonmya™ for fibromyalgia management

Tonix Pharmaceuticals Awarded potential 34 million dollar Contract with U.S. Department of Defence

Beyond "One Bug, One Drug" - Tonix Pharmaceuticals Secures Up To $34 Million In Funding From The U.S. Department Of Defense To Develop a Broad-Spectrum Antiviral

Tonix Pharmaceuticals Granted Fast Track Designation by FDA for Tonmya™ for Fibromyalgia

Global Fibromyalgia Treatment Market Projected To Reach $3.86 Billion By 2031 as Positive Growth Trends Expected

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Tonix Pharmaceuticals

Tonix Pharmaceuticals (TNXP) Forecast

Tonix Pharmaceuticals (NASDAQ:TNXP) Stock, Quote.Headers.trade-ideas