Raising $250m, Tonix Pharmaceuticals adds to the pipeline, with R&D in fibromyalgia and PTSD, while accelerating clinical efforts and partnerships.

Tonix Pharmaceuticals Holding Corp., the biopharmaceutical organization primarily concerned with medicine for disorders in the center nervous system, has increased its upper-limit offering price under its Sales Agreement with A.G.P./Alliance Global Partners to $250 million from $150 million. The addition of this resource will be instrumental to bolstering research activities within the area.

Tonix Pharmaceuticals seems to be in very good financial condition, with current ratio of 3.33 and more cash than debt, but with cash bleeding extremely quickly. This money will go to funding ongoing work on some potential fibromyalgia and other chronic situation treatments.

The company has also initiated significant strides in its clinical development. The New Drug Application (NDA) put in by the FDA has entered TNX-102 SL, a non-opioid fibromyalgia treatment. In addition to this, Tonix has scored a $34 million Department of Defense contract for its antiviral drug TNX-4200 and is progressing with its mpox vaccine, TNX-801.