Tonix Pharmaceuticals, a biopharmaceutical company, reported a net loss of $14.2 million for the quarter ended September 30, 2024, a 49% decrease from the $27.9 million net loss in the same period last year. The company's revenue for the quarter was $2.8 million, down from $4.0 million year-on-year, with product revenue primarily from Zembrace Symtouch and Tosymra. Operating expenses for the quarter totaled $18.4 million, a significant reduction from $32.1 million in the previous year, primarily due to decreased research and development costs. Tonix's business development efforts are focused on advancing TNX-102 SL, a product candidate for fibromyalgia management, which has been submitted for FDA approval. The company also has a diverse portfolio of product candidates in various stages of development for conditions such as...Show More

Tonix Pharmaceuticals, a biopharmaceutical company, reported a net loss of $14.2 million for the quarter ended September 30, 2024, a 49% decrease from the $27.9 million net loss in the same period last year. The company's revenue for the quarter was $2.8 million, down from $4.0 million year-on-year, with product revenue primarily from Zembrace Symtouch and Tosymra. Operating expenses for the quarter totaled $18.4 million, a significant reduction from $32.1 million in the previous year, primarily due to decreased research and development costs. Tonix's business development efforts are focused on advancing TNX-102 SL, a product candidate for fibromyalgia management, which has been submitted for FDA approval. The company also has a diverse portfolio of product candidates in various stages of development for conditions such as cocaine intoxication, allograft rejection, autoimmune diseases, and certain cancers. Looking ahead, Tonix expects an FDA decision on TNX-102 SL in 2025 and is preparing for potential commercialization. The company also announced a contract with the U.S. Department of Defense to develop antiviral agents. Despite a decrease in net loss, Tonix acknowledges the challenges ahead and the need for additional financing to support its operations beyond the first quarter of 2025.