Tonix Q3 2025 net loss widens to $32M; cash $190.1M; Tonmya launch in November

Tonix Pharmaceuticals Holding Corp.

2025-Q3 EPS reported -$10.42 vs consensus -$3.66 ▼ miss (-185.0%)

Net product revenue $3.3M (up from $2.8M YoY) from Zembrace/Tosymra sales.
Net loss $32.0M ($3.59 per share) vs $14.2M ($22.68 per share) in Q3 2024; SG&A surged to $25.7M on Tonmya launch prep.
Cash and equivalents $190.1M (Dec 2024: $98.8M); cash runway into Q1 2027 including $34.7M from Q4 2025 equity offerings.
Tonmya (fibromyalgia) launch in November 2025; 90 sales reps in field; WAC established; payer formulary placement for Tosymra in 2026.
Tonix in-licensed TNX-4800 (Lyme disease mAb) and announced Phase 2 collaboration for TNX-1500 (kidney transplant).

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