Tonix Pharmaceuticals Holding Corp Was Hammered

Tonix Pharmaceuticals Holding Corp (TNXP) was hammered after news hit today. The news was that the company would issue $15M in new stock at $3.50 per share. The company had previously stated it would issue new shares and had also recently completed a reverse split. The stock was trading above $5 per share just before the halt, and it appears that the price was being pushed higher prior to market open in anticipation of this news. Here’s a recap.