Tonix Pharmaceuticals Regains Compliance with Nasdaq Minimum Bid Price Requirement
March 04 2021 - 7:00AM
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 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
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.
Contacts
Jessica Morris (corporate)Tonix
Pharmaceuticalsinvestor.relations@tonixpharma.com(862) 904-8182
Olipriya Das, Ph.D. (media)Russo
PartnersOlipriya.Das@russopartnersllc.com (646) 942-5588
Peter Vozzo (investors)Westwickepeter.vozzo@westwicke.com(443)
213-0505
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