TNXP · Tonix Pharmaceuticals Holding Corp.

Summary

Revenue more than doubled to $6.9M following TONMYA’s November 2025 launch — the company’s first internally developed FDA-approved product — while operating and net losses widened significantly as commercialization and infrastructure investments accelerated.

Key takeaways

• Gross profit rose 257% to $5.3M with a 77.1% gross margin, reflecting strong initial pricing and low cost of goods sold for the newly launched product.
• Free cash flow was -$44.0M, comprising -$42.3M in operating cash outflow and -$1.7M in capital expenditures — the latter up sharply from $6K year-ago due to increased laboratory equipment purchases.
• Diluted EPS decreased slightly to -$2.93 (vs. -$2.84), reflecting higher net loss partially offset by share count changes, with no disclosure of dilutive instruments or buybacks in the authoritative packet.
• Management explicitly states available capital may be consumed more rapidly than expected and raises substantial doubt about going concern, underscoring the need for additional financing to fund ongoing R&D activities.