BUZZ-Tonix Pharmaceuticals falls after company announces proposed public offering

Reuters07-09

** Shares of biopharma firm Tonix Pharmaceuticals fall 15.9% to $0.599 in after-hours trading

** Company says it's planning a public offering of its common shares but didn't offer details on the size and pricing of the offering

** TNXP intends to use the net proceeds from the offering for working capital and general corporate purposes

** There can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering - Tonix

** TNXP shares on Monday closed at 71 cents

** Up to last close, stock had fallen 94% YTD

(Reporting by Harshita Mary Varghese in Bengaluru)

((HarshitaMary.Varghese@thomsonreuters.com))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment