Is Tonix Pharmaceuticals Holding going out of business?

Tonix Pharmaceuticals Holding Corp. (TNXP) Fundamentals

A quick summary of the latest filed figures while the full analysis loads.

Tonix Pharmaceuticals Holding Corp. (TNXP) scores 22 out of 100 on fundamentals, Distressed / Caution, based on SEC filing data.

Leading signal: Shares dilution YoY: 128.91% (YoY)

Five questions, kept separate

Survival - Funding dependent

17-24 mo of estimated runway from 2026-06-30, based on $176M of cash and short-term investments against $103M of annual burn. Adjusted shares outstanding increased 128.9% over the comparison year.

Business quality - Pre-commercial

Operating margins cannot grade a pipeline; Survival and clinical evidence remain the relevant lenses here.

Trajectory - Clinical progress unavailable

Fundamentals can show funding and burn, but not whether the clinical pipeline is advancing.

Valuation - Reasonable

95.2% net-cash backing support a reasonable pre-commercial Valuation assessment.

Event risk - Evidence unavailable

No active asserted adverse event was found in the available filing evidence. The filing evidence is stale or incomplete, so this is not proof of absence.

What the rules read

• Shares dilution YoY: 128.91% (YoY)
• Debt / Equity: -0.79x (Net Cash)
• ROIC: -220.00%
• Revenue growth YoY: 577.88% (YoY) - Growth from a low base; sustainability uncertain.
• Return on Assets: -48.81%
• Revenue per Asset Efficiency: 99.88% QoQ (Strong monetization)
• FCF margin: -787.46% (Inv. Mode)
• Cash Runway (years): 1.71y
• Asset Growth Velocity: 35.62% YoY (Scaling infra)
• Cash Burn Deceleration: -0.20% QoQ improvement (Worsening)
• Working Capital Efficiency: 75.76x (Well-funded)
• Revenue Quality: Quality concerns (DSO +243d, Rev +578%)

Read from filings through 2026-08-10.

Price as of 2026-08-22.