Tonix Pharmaceuticals (TNXP) Files To Raise $500 Million, Shares Tumble

Tonix Pharmaceuticals Holding Corp (NASDAQ:TNXP) saw its shares decline Thursday morning after the company filed a Form S-3 with the U.S. Securities and Exchange Commission.

What To Know: The filing registers the company to offer and sell up to $500 million of various securities. The “shelf” registration allows Tonix to sell common stock, preferred stock, warrants, debt securities and other units from time to time. The company stated it intends to use any net proceeds for working capital and general corporate purposes.

Tonix is a biotechnology company focused on central nervous system disorders. Its priority is advancing TNX-102 SL for fibromyalgia management, which has a PDUFA goal date of August 15, for a marketing authorization decision from the FDA.

Price Action: According to data from Benzinga Pro, TNXP stock is trading lower by approximately 11.8% at $33.26 Thursday morning. The stock has a short interest of 14.42% of its float, indicating a notable level of bearish sentiment.

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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 $33.48 as of publishing time, $100 would buy you 2.99 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 $137.25 and a 52-week low of $6.76.

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