Full Press Release Details
Tonix Pharmaceuticals Holding Corp.8-K
Tonix Pharmaceuticals Regains Compliance
with Nasdaq Minimum Bid Price Requirement
CHATHAM, N.J., March 4, 2021 (GLOBE NEWSWIRE) - Tonix
Pharmaceuticals Holding Corp. (Nasdaq: TNXP) (Tonix or the Company) a clinical-stage biopharmaceutical company, today
announced that it has regained compliance with the minimum bid price requirement for continued listing on the Nasdaq Global
Market. On March 3, 2021, Tonix received a letter from The Nasdaq Stock Market LLC stating that because Tonix's shares
had a closing bid price at or above $1.00 per share for a minimum of 20 consecutive business days, Tonix's stock had
regained compliance with the minimum bid price requirement of $1.00 per share for continued listing on the Nasdaq Global
Market, as set forth in Nasdaq Listing Rule 5450(a)(1), and the matter is now closed.
Tonix Pharmaceuticals Holding Corp.
Tonix is a clinical-stage biopharmaceutical
company focused on discovering, licensing, acquiring and developing small molecules and biologics to treat and prevent human disease
and alleviate suffering. Tonix's portfolio is primarily composed of central nervous system (CNS) and immunology product candidates.
The CNS portfolio includes both small molecules and biologics to treat pain, neurologic, psychiatric and addiction conditions.
Tonix's lead CNS candidate, TNX-102 SL1, is in mid-Phase 3 development for the management of fibromyalgia, and
positive data on the RELIEF Phase 3 trial were recently reported. The Company expects interim data from a second Phase 3 study,
RALLY, in the third quarter of 20212 and topline data in the fourth quarter of 2021. The immunology portfolio includes
vaccines to prevent infectious diseases and biologics to address immunosuppression, cancer, and autoimmune diseases. Tonix's
lead vaccine candidate, TNX-18003, is a live replicating vaccine based on the horsepox viral vector platform to protect
against COVID-19, primarily by eliciting a T cell response. Tonix expects efficacy data from animal studies of TNX-1800 in the
first quarter of 2021. TNX-8013, live horsepox virus vaccine for percutaneous administration, is in development to protect
against smallpox and monkeypox.
1TNX-102 SL is an investigational
new drug and has not been approved for any indication.
2Pending submission and agreement
from FDA on statistical analysis plan.
3TNX-1800 and TNX-801 are investigational
new biologics and have not been approved for any indication.
This press release and further information about Tonix can be found
Forward Looking Statements
Certain statements in this press release are forward-looking
within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of
forward-looking words such as "anticipate," "believe," "forecast,"
"estimate," "expect," and "intend," among others. These forward-looking statements are
based on Tonix's current expectations and actual results could differ materially. There are a number of factors that could
cause actual events to differ materially from those indicated by such forward-looking statements. These factors include, but
are not limited to, risks related to failure to obtain FDA clearances or approvals and noncompliance with FDA regulations;
delays and uncertainties caused by the global COVID-19 pandemic; risks related to the timing and progress of clinical
development of our product candidates; our need for additional financing; uncertainties of patent protection and litigation;
uncertainties of government or third party payor reimbursement; limited research and development efforts and dependence upon
third parties; and substantial competition. As with any pharmaceutical under development, there are significant risks in the
development, regulatory approval, and commercialization of new products. Tonix does not undertake an obligation to update or
revise any forward-looking statement. Investors should read the risk factors set forth in the Annual Report on Form 10-K for
the year ended December 31, 2019, as filed with the Securities and Exchange Commission (the "SEC") on March 24,
2020, and periodic reports filed with the SEC on or after the date thereof. All Tonix's forward-looking statements are
expressly qualified by all such risk factors and other cautionary statements. The information set forth herein speaks only as
of the date thereof.
Jessica Morris (corporate)
Tonix Pharmaceuticals
Olipriya Das, Ph.D. (media)
Peter Vozzo (investors)