Full Press Release Details
Tonix Pharmaceuticals Holding Corp. 8-K
Tonix Pharmaceuticals Regains Compliance
with NASDAQ Minimum Bid Price Requirement
NEW YORK, August 4, 2020 (GLOBE NEWSWIRE) -- Tonix Pharmaceuticals
Holding Corp. (Nasdaq: TNXP) (Tonix or the Company) a clinical-stage biopharmaceutical company, announced that it has regained
compliance with the minimum bid price requirement for continued listing on the NASDAQ Global Market. The Company received a letter
from The NASDAQ Stock Market LLC on August 3, 2020 stating that because its shares had a closing bid price at or above $1.00 per
share for a minimum of ten (10) consecutive business days, the Company'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.
About 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 immunology portfolio includes vaccines to prevent infectious diseases and biologics to address immunosuppression, cancer and
autoimmune diseases. The CNS portfolio includes both small molecules and biologics to treat pain, neurologic, psychiatric and addiction
conditions. Tonix's lead vaccine candidate, TNX-1800*, 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 data from animal studies of TNX-1800 in the
fourth quarter of this year. TNX-801*, live horsepox virus vaccine for percutaneous administration, is in development to protect
against smallpox and monkeypox and serves as the vector platform on which TNX-1800 is based. Tonix is also developing TNX-2300*,
a second live replicating vaccine candidate for the prevention of COVID-19, but using bovine parainfluenza as the vector. Tonix's
lead CNS candidate, TNX-102 SL**, is in Phase 3 development for the management of fibromyalgia. The Company expects results from
an unblinded interim analysis in September 2020 and topline data in the fourth quarter of 2020. TNX-102 SL is also in development
for agitation in Alzheimer's disease and alcohol use disorder (AUD). The agitation in Alzheimer's disease program is
Phase 2 ready with FDA Fast Track designation, and the development program for AUD is in the pre-Investigational New Drug (IND)
application stage. Tonix s programs for treating addiction conditions also include TNX-1300* (T172R/G173Q double-mutant cocaine
esterase 200 mg, i.v. solution), which is in Phase 2 development for the treatment of life-threatening cocaine intoxication and
has FDA Breakthrough Therapy designation. TNX-601 CR** (tianeptine oxalate controlled-release tablets) is another CNS program,
currently in Phase 1 development as a daytime treatment for depression while TNX-1900**, intranasal oxytocin, is in development
as a non-addictive treatment for migraine and cranio-facial pain. Tonix's preclinical pipeline includes TNX-1600** (triple
reuptake inhibitor) , a new molecular entity being developed as a treatment for PTSD; TNX-1500* (anti-CD154), a monoclonal antibody
being developed to prevent and treat organ transplant rejection and autoimmune conditions; and TNX-1700* (rTFF2), a biologic being
developed to treat gastric and pancreatic cancers.
*TNX-1800, TNX-801, TNX-2300, TNX-1300, TNX-1500 and TNX-1700 are
investigational new biologics and have not been approved for any indication.
**TNX-102 SL, TNX-601 CR, TNX-1600 and TNX-1900 are investigational
new drugs and have 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, 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 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
Jessica Morris (corporate)
Tonix Pharmaceuticals
Travis Kruse (media)
Peter Vozzo (investors)