Tonix Pharmaceuticals Q4 revenue more than doubles, net loss widens

Overview

• US biotech firm's Q4 net product revenue more than doubled yr/yr, driven by TONMYA launch

• Q4 net loss widened as selling and marketing costs surged after product launch

• Company ended 2025 with $207.6 mln in cash

Outlook

• Company expects to initiate U.S. field study for TNX-4800 in 2027 pending FDA clearance

• Tonix plans to begin enrollment for Phase 2 TNX-102 SL study in major depressive disorder mid-2026

• Company believes cash resources will meet planned operating and capital requirements into Q1 2027

Result Drivers

• R&D EXPENSES - Research and development costs for the fourth quarter 2025 were approximately $16.9 million and increased yr/yr due to pipeline prioritization and higher staffing

Company press release: ID:nGNX7mlhhW

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the pharmaceuticals peer group is "buy"

• Wall Street's median 12-month price target for Tonix Pharmaceuticals Holding Corp is $65.00, about 364.9% above its March 11 closing price of $13.98

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