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Tonix Pharmaceuticals closes common stock offering

Tonix Pharmaceuticals Holding Corp. closed an underwritten public offering of 1.8 million common shares priced at $4.45 apiece with about $8 million in gross proceeds.

The company expects to use the proceeds to support the development of its TNX-102 SL treatment for post-traumatic stress disorder, to further develop other pipeline programs, for working capital and other general corporate purposes, and possibly acquisitions of other companies, products or technologies.

Aegis Capital Corp. acted as the sole book-running manager for the offering, and Dawson James Securities Inc. acted as a co-manager.