Tonix Pharmaceuticals Reports FY24 Preliminary Financials: $98.8M In Cash And Cash Equivalents As Of December 31, 2024, Revenue Hits ~$10.1M Vs $7.8M YoY
Benzinga
07 Feb
Preliminary Full Year 2024 Financial Results1
The Company had approximately $98.8 million in cash and cash equivalents as of December 31, 2024.
Net cash used in operating activities was approximately $60.9 million, compared to $102.0 million for the prior year.
Capital expenditures was approximately $0.1 million, compared to $29.1 million for the prior year.
Net operating loss was approximately $126.6 million, which includes non-cash impairment charges of approximately $59.0 million, compared to net operating loss of $116.7 million for the prior year.
The Company announced that net revenue from the sale of its marketed products was approximately $10.1 million, compared to $7.8 million for the prior year.
On February 3, 2025, the Company repaid a mortgage (Loan and Guaranty Agreement) with JGB Capital and related parties that was secured by two facilities and the Company is now debt-free.
The Company expects that its cash resources at December 31, 2024, and the gross proceeds of approximately $30.4 million raised from sales under its at-the-market facility in the first quarter of 2025, will be sufficient to fund its planned operations into the first quarter of 2026.
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