Tonix Pharmaceuticals (TNXP) was still 13% higher, after surging over 60% earlier Friday, following the release of its preliminary 2024 financial results.
The biologics and immunology company reported net sales from its marketed products of $10.1 million, compared with $7.8 million in revenue during the prior year. Two analysts polled by FactSet expected total sales of $12.8 million.
The company also reported a $126.6 million net operating loss for the 12 months ended Dec. 31, which included $59 million in non-cash impairment charges originally reported with the company's Q2 results. Its 2023 operating loss totaled $116.7 million.
Tonix finished 2024 with $98.8 million in cash and equivalents, which together with around $30.4 million in gross proceeds from a recent at-the-market stock offering in Q1 this year, will be sufficient to fund operations into Q1 2026.
Price: 12.70, Change: +1.46, Percent Change: +12.99
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