Full Press Release Details
Tonix Pharmaceuticals Regains Compliance
with NASDAQ Minimum Bid Price Requirement
NEW YORK, April 3, 2017 - Tonix Pharmaceuticals
Holding Corp. (Nasdaq:TNXP) (Tonix), a company that is developing innovative pharmaceutical products to address public health challenges,
announced that it has regained compliance with the minimum bid price requirement for continued listing on the NASDAQ Global Market.
On March 17, 2017, Tonix effected a 1-for-10 reverse stock split of its outstanding common stock intended to increase the per share
trading price of Tonix's common stock to satisfy the $1.00 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) (the "Bid Price Rule").
On March 31, 2017, 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 ten (10) consecutive business days, Tonix's stock had regained compliance with the Bid Price Rule and the
matter is now closed.
About Tonix Pharmaceuticals Holding
Tonix is developing innovative pharmaceutical
products to address public health challenges. TNX-102 SL* is in Phase 3 development and has been granted Breakthrough Therapy designation
by the United States Food and Drug Administration (FDA) for the treatment of posttraumatic stress disorder (PTSD). PTSD is a serious
condition characterized by chronic disability, inadequate treatment options especially for military-related PTSD, and an overall
high utilization of healthcare services that contributes to significant economic burdens. The Protectic protective eutectic
and Angstro-Technology formulation are essential elements of the proprietary TNX-102 SL composition for which a Notice of
Allowance has been issued by the U.S. Patent and Trademark Office. Other development efforts include TNX-601 (tianeptine oxalate),
a clinical candidate at Pre-IND (Investigational New Drug) application stage, designed for daytime use for the treatment of PTSD,
and TNX-801, a potential smallpox-preventing vaccine based on a live synthetic version of horsepox virus (HPXV). HPXV has protective
vaccine activity in mice, using a model of lethal vaccinia infection. Vaccine manufacturing activities have been initiated to support
further nonclinical testing of TNX-801.
*TNX-102 SL (cyclobenzaprine HCl sublingual
tablets) is an investigational new drug and has not been approved for any indication.
This press release and further information
about Tonix can be found at www.tonixpharma.com.
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, substantial competition; our
possible 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 risks related to failure
to obtain FDA clearances or approvals and noncompliance with FDA regulations. 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, 2015, as filed with the Securities and Exchange Commission (the "SEC")
on March 3, 2016, and future periodic reports filed with the SEC on or after the date hereof. All of 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 hereof.
Edison Advisors (investors)
Russo Partners (media)