CHATHAM, N.J., May perhaps 16, 2022 (Globe NEWSWIRE) — Tonix Prescribed drugs Keeping Corp. (Nasdaq: TNXP) (Tonix or the Firm), a scientific-phase biopharmaceutical enterprise, today announced that it will impact a 1-for-32 reverse inventory split of its outstanding popular inventory. This will be effective for buying and selling reasons as of the graduation of investing on May perhaps 17, 2022.
The reverse stock break up was beforehand accepted by the Board of Administrators of Tonix in accordance with Nevada law, below which no stockholder acceptance is demanded, and is intended to improve the for every share investing value of Tonix’s typical inventory to fulfill the $1.00 bare minimum bid value necessity for continued listing on The NASDAQ Money Market place (Rule 5550(a)(1)). Tonix’s popular inventory will keep on to trade on the NASDAQ Cash Market place beneath the image “TNXP” and under a new CUSIP selection, 890260862. As a result of the reverse inventory split, every 30-two pre-split shares of frequent inventory fantastic will become 1 share of popular inventory. The reverse inventory break up will also proportionately cut down the variety of shares of licensed popular stock from 1,600 million to 50 million shares. The reverse break up will also use to widespread inventory issuable upon the work out of Tonix’s remarkable warrants and stock alternatives.
Tonix’s transfer agent, VStock Transfer LLC, which is also performing as the trade agent for the reverse split, will present instructions to shareholders with regards to the system for exchanging share certificates. Any fractional shares of frequent inventory resulting from the reverse stock break up will be rounded up to the closest whole article-split share and no shareholders will obtain income in lieu of fractional shares.
About Tonix Pharmaceuticals Keeping Corp.1
Tonix is a medical-phase biopharmaceutical firm concentrated on finding, licensing, getting and establishing therapeutics to deal with and protect against human condition and ease suffering. Tonix’s portfolio is composed of central nervous method (CNS), rare illness, immunology and infectious illness item candidates. Tonix’s CNS portfolio includes equally smaller molecules and biologics to deal with soreness, neurologic, psychiatric and addiction conditions. Tonix’s guide CNS prospect, TNX-102 SL (cyclobenzaprine HCl sublingual pill), is in mid-Period 3 progress for the administration of fibromyalgia with a new Section 3 study introduced in the next quarter of 2022 and interim knowledge expected in the 1st quarter of 2023. TNX-102 SL is also getting designed to handle Very long COVID, a continual post-acute COVID-19 situation. Tonix expects to initiate a Period 2 study in Lengthy COVID in the second quarter of 2022. TNX-1300 (cocaine esterase) is a biologic developed to handle cocaine intoxication that is envisioned to start a Stage 2 trial in the second quarter of 2022. TNX-1300 has been granted Breakthrough Remedy Designation by the Fda. Lastly, TNX-1900 (intranasal potentiated oxytocin), a modest molecule in advancement for long-term migraine, is anticipated to enter the clinic with a Period 2 examine in the 2nd half of 2022. Tonix’s uncommon condition portfolio features TNX-2900 (intranasal potentiated oxytocin) for the procedure of Prader-Willi syndrome. TNX-2900 has been granted Orphan-Drug Designation by the Fda. Tonix’s immunology portfolio features biologics to tackle organ transplant rejection, autoimmunity and cancer, including TNX-1500 which is a humanized monoclonal antibody concentrating on CD40-ligand currently being developed for the avoidance of allograft and xenograft rejection and for the treatment of autoimmune ailments. A Stage 1 analyze of TNX-1500 is anticipated to be initiated in the second half of 2022. Tonix’s infectious disease pipeline is made up of a vaccine in progress to avert smallpox and monkeypox referred to as TNX-801, subsequent-technology vaccines to avert COVID-19, and a platform to make absolutely human monoclonal antibodies to handle COVID-19. Tonix’s direct vaccine candidates for COVID-19 are TNX-1840 and TNX-1850, which are live virus vaccines based mostly on Tonix’s recombinant pox stay virus vector vaccine platform.
1All of Tonix’s solution candidates are investigational new medications or biologics and have not been accepted for any sign.
This press release and more info about Tonix can be found at www.tonixpharma.com.
Ahead Searching Statements
Specified statements in this press launch are forward-seeking within the this means of the Personal Securities Litigation Reform Act of 1995. These statements may possibly be recognized by the use of forward-on the lookout words and phrases these types of as “anticipate,” “believe,” “forecast,” “estimate,” “expect,” and “intend,” among others. These forward-wanting statements are based mostly on Tonix’s latest expectations and actual results could vary materially. There are a variety of aspects that could bring about precise events to differ materially from people indicated by such forward-wanting statements. These elements include, but are not confined to, threats related to the reverse stock split, failure to get Fda clearances or approvals and noncompliance with Fda laws delays and uncertainties prompted by the world wide COVID-19 pandemic threats associated to the timing and progress of clinical advancement of our solution candidates our need for further financing uncertainties of patent safety and litigation uncertainties of authorities or 3rd occasion payor reimbursement minimal investigate and enhancement attempts and dependence on third functions and considerable competition. As with any pharmaceutical below improvement, there are considerable challenges in the growth, regulatory acceptance and commercialization of new products and solutions. Tonix does not undertake an obligation to update or revise any forward-seeking assertion. Investors really should examine the threat aspects established forth in the Once-a-year Report on Type 10-K for the calendar year ended December 31, 2021, as filed with the Securities and Exchange Commission (the “SEC”) on March 14, 2022, and periodic reviews submitted with the SEC on or immediately after the date thereof. All of Tonix’s forward-searching statements are expressly experienced by all such threat aspects and other cautionary statements. The details established forth herein speaks only as of the date thereof.
Jessica Morris (company)
Tonix Prescription drugs
Olipriya Das, Ph.D. (media)
Peter Vozzo (buyers)