Tonix Pharmaceuticals (TNXP) Stock Surges Following Insider Buying And Q1 Results

Tonix Pharmaceuticals Holding Corp TNXP shares are trading higher by 13.2% to $26.14 on Friday, continuing a strong week with a 33.5% gain fueled by encouraging first-quarter developments.

Investor sentiment was also boosted Thursday after CEO Seth Lederman disclosed the purchase of 4,000 shares of company stock for $86,200.

What To Know: Tonix on Monday reported a first-quarter loss of $2.84 per share, beating analyst estimates of a $3.37 loss. Revenue came in slightly below expectations at $2.43 million versus $2.55 million consensus.

The company continues to advance its lead drug candidate, TNX-102 SL, for fibromyalgia. The drug has a PDUFA decision date set for August 15, and if approved, could become the first new FDA-approved fibromyalgia treatment in over 15 years.

Read Also: This Week’s Best Short Squeeze Options Trade

The company noted that no FDA advisory committee meeting is required, which typically signals a smoother regulatory path.

Tonix also highlighted pipeline progress, including positive Phase 1 results for TNX-1500 (organ transplant rejection) and preclinical data for TNX-801 (smallpox and mpox vaccine).

Financially, the company ended the first quarter with $131.7 million in cash, strengthened by recent equity raises and a share repurchase of 150,000 shares.

Read Also: US Slams Europe’s Digital Laws, Calls Them A Danger To Free Expression And American Big Tech

How To Buy TNXP Stock

Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in Tonix Pharmaceuticals’ case, it is in the Health Care sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

According to data from Benzinga Pro, TNXP has a 52-week high of $672.00 and a 52-week low of $6.76.