Tonix Pharmaceuticals closes it public offering

|About: Tonix Pharmaceuticals Holdi... (TNXP)|By:, SA News Editor

Tonix Pharmaceuticals Holding (TNXP -2.3%) slips after announcing the closing of its 2.6M share public offering of $4.25 per unit, with each unit consisting of one share of common stock and one warrant to purchase one share of common stock.

The company expects to use net proceeds from this offering to fund the clinical development of TNX-102 SL, for which a Phase 2b/3 clinical trial for the treatment of fibromyalgia is in process to begin in the Q313.