CHATHAM, N.J., Might 16, 2022 (World NEWSWIRE) — Tonix Prescribed drugs Keeping Corp. (Nasdaq: TNXP) (Tonix or the Company), a clinical-phase biopharmaceutical company, these days declared that it will impact a 1-for-32 reverse inventory break up of its remarkable frequent stock. This will be efficient for buying and selling needs as of the graduation of investing on May 17, 2022.
The reverse stock split was earlier permitted by the Board of Directors of Tonix in accordance with Nevada regulation, underneath which no stockholder approval is necessary, and is supposed to increase the per share trading price tag of Tonix’s common stock to satisfy the $1.00 least bid rate prerequisite for ongoing listing on The NASDAQ Funds Current market (Rule 5550(a)(1)). Tonix’s prevalent inventory will carry on to trade on the NASDAQ Capital Sector under the image “TNXP” and beneath a new CUSIP selection, 890260862. As a consequence of the reverse inventory split, each thirty-two pre-split shares of typical stock exceptional will become just one share of widespread stock. The reverse inventory break up will also proportionately minimize the amount of shares of approved frequent inventory from 1,600 million to 50 million shares. The reverse break up will also utilize to prevalent inventory issuable upon the exercise of Tonix’s fantastic warrants and stock options.
Tonix’s transfer agent, VStock Transfer LLC, which is also performing as the trade agent for the reverse split, will present guidelines to shareholders about the approach 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-break up share and no shareholders will acquire dollars in lieu of fractional shares.
About Tonix Pharmaceuticals Keeping Corp.1
Tonix is a clinical-phase biopharmaceutical corporation concentrated on getting, licensing, obtaining and establishing therapeutics to address and avoid human illness and ease suffering. Tonix’s portfolio is composed of central nervous technique (CNS), exceptional illness, immunology and infectious sickness product or service candidates. Tonix’s CNS portfolio features both compact molecules and biologics to deal with ache, neurologic, psychiatric and addiction conditions. Tonix’s direct CNS applicant, TNX-102 SL (cyclobenzaprine HCl sublingual pill), is in mid-Period 3 improvement for the management of fibromyalgia with a new Phase 3 study introduced in the 2nd quarter of 2022 and interim data anticipated in the to start with quarter of 2023. TNX-102 SL is also currently being formulated to deal with Very long COVID, a continual write-up-acute COVID-19 ailment. Tonix expects to initiate a Stage 2 analyze in Very long COVID in the second quarter of 2022. TNX-1300 (cocaine esterase) is a biologic designed to take care of cocaine intoxication that is predicted to start out a Phase 2 demo in the second quarter of 2022. TNX-1300 has been granted Breakthrough Therapy Designation by the Food and drug administration. Last but not least, TNX-1900 (intranasal potentiated oxytocin), a little molecule in development for chronic migraine, is anticipated to enter the clinic with a Period 2 research in the next half of 2022. Tonix’s exceptional sickness portfolio incorporates TNX-2900 (intranasal potentiated oxytocin) for the treatment of Prader-Willi syndrome. TNX-2900 has been granted Orphan-Drug Designation by the Fda. Tonix’s immunology portfolio contains biologics to address organ transplant rejection, autoimmunity and cancer, which include TNX-1500 which is a humanized monoclonal antibody focusing on CD40-ligand becoming made for the prevention of allograft and xenograft rejection and for the treatment of autoimmune health conditions. A Period 1 study of TNX-1500 is envisioned to be initiated in the next 50 % of 2022. Tonix’s infectious sickness pipeline is made up of a vaccine in advancement to protect against smallpox and monkeypox referred to as TNX-801, up coming-generation vaccines to protect against COVID-19, and a platform to make absolutely human monoclonal antibodies to deal with COVID-19. Tonix’s guide vaccine candidates for COVID-19 are TNX-1840 and TNX-1850, which are are living virus vaccines based on Tonix’s recombinant pox dwell virus vector vaccine system.
1All of Tonix’s product candidates are investigational new medicines or biologics and have not been approved for any indication.
This press launch and even further information and facts about Tonix can be found at www.tonixpharma.com.
Ahead Seeking Statements
Certain statements in this push launch are forward-wanting in the indicating of the Personal Securities Litigation Reform Act of 1995. These statements could be identified by the use of ahead-looking words these as “anticipate,” “believe,” “forecast,” “estimate,” “expect,” and “intend,” amid many others. These forward-wanting statements are dependent on Tonix’s present-day expectations and precise final results could differ materially. There are a selection of aspects that could trigger genuine situations to vary materially from individuals indicated by these types of forward-hunting statements. These elements involve, but are not restricted to, pitfalls connected to the reverse inventory split, failure to attain Fda clearances or approvals and noncompliance with Fda restrictions delays and uncertainties induced by the world wide COVID-19 pandemic challenges related to the timing and development of clinical development of our product or service candidates our will need for more funding uncertainties of patent protection and litigation uncertainties of governing administration or third celebration payor reimbursement minimal research and enhancement attempts and dependence upon third events and significant competitiveness. As with any pharmaceutical less than improvement, there are major risks in the enhancement, regulatory acceptance and commercialization of new merchandise. Tonix does not undertake an obligation to update or revise any ahead-on the lookout assertion. Buyers should really examine the hazard elements established forth in the Once-a-year Report on Variety 10-K for the yr ended December 31, 2021, as submitted with the Securities and Trade Fee (the “SEC”) on March 14, 2022, and periodic experiences filed with the SEC on or following the date thereof. All of Tonix’s ahead-on the lookout statements are expressly certified by all this kind of threat things and other cautionary statements. The info set forth herein speaks only as of the date thereof.
Contacts
Jessica Morris (corporate)
Tonix Prescribed drugs
[email protected]
(862) 799-8599
Olipriya Das, Ph.D. (media)
Russo Companions
[email protected]
(646) 942-5588
Peter Vozzo (investors)
ICR Westwicke
[email protected]
(443) 213-0505
