Why Tonix Pharmaceuticals (TNXP) Stock Is Rising

Tonix Pharmaceuticals Holding Corp TNXP shares are trading higher by 25.3% to $28.85 during Monday’s session after the company announced that the FDA will not require an Advisory Committee meeting for its New Drug Application for TNX-102 SL, a potential new treatment for fibromyalgia.

What To Know: CEO Seth Lederman expressed confidence in the drug's potential to introduce a new class of fibromyalgia treatments. The company anticipates a possible launch in Q4 2025, pending FDA approval.

TNX-102 SL, a sublingual formulation of cyclobenzaprine HCl, previously received Fast Track designation in 2024, expediting its regulatory review.

Tonix says, with over 10 million U.S. adults affected by fibromyalgia, the approval of TNX-102 SL could mark a significant advancement in addressing this chronic pain disorder. Tonix remains optimistic about the drug's potential to meet the unmet needs of fibromyalgia patients.

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How To Buy TNXP Stock

By now you're likely curious about how to participate in the market for Tonix Pharmaceuticals – be it to purchase shares, or even attempt to bet against the company.

Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy “fractional shares,” which allows you to own portions of stock without buying an entire share.

In the case of Tonix Pharmaceuticals, which is trading at $23.03 as of publishing time, $100 would buy you 4.34 shares of stock.

If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to “go short” a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.

According to data from Benzinga Pro, TNXP has a 52-week high of $1,146.01 and a 52-week low of $6.76.