Tonix Pharmaceuticals Holding Corp. (TNXP) - Dilution Analysis
Visualizing historical and potential share dilution over time
Dilution Analysis
Risk Assessment Details
Summary
TNXP currently has 11.8M outstanding shares. with significant dilution risk as 20M authorized shares could dilute existing holders by 169.8%. The company has significantly diluted shareholders by 1286.63% over the past 2 years, indicating aggressive capital raising. Recent corporate actions include 2 stock splits (positive for accessibility) and 2 reverse splits (concerning signal).
Share Structure Timeline
Historical Data Points
| Date | Event | Outstanding | Supply |
|---|---|---|---|
| Dec 29, 2025 |
8-K filing: Tonix Pharmaceuticals Holding Corp. entered into a securities purchase agreement to issue and sell 615,025 shares of common stock and pre-funded warrants to purchase up to 615,025 shares of common stock in a registered direct offering, with expected gross proceeds of approximately $20.0 million. ($20.0M proceeds) |
12M | 20M |
| Nov 10, 2025 |
10-Q filing | 11.8M shares outstanding |
12M | 20M |
| Jun 12, 2025 |
S-3 filing: Tonix Pharmaceuticals Holding Corp. files a registration statement on Form S-3 relating to the registration for offering and sale from time to time of securities with an aggregate offering price of up to $500,000,000. |
7.3M | 20M |
| Jun 11, 2025 |
8-K filing: Tonix Pharmaceuticals Holding Corp. entered into a sales agreement with A.G.P./Alliance Global Partners to offer and sell up to $150 million of common stock and a purchase agreement with Lincoln Park Capital Fund, LLC to sell up to $75 million of newly issued shares of common stock. |
7.3M | 20M |
| May 12, 2025 |
10-Q filing | 7.3M shares outstanding |
7.3M | 20M |
| Mar 18, 2025 |
10-K filing | 6.4M shares outstanding |
6.4M | 20M |
| Feb 05, 2025 |
Stock Split
8-K filing: Stock split 1-for-100 | Outstanding: 186,894,225 → 5,590,445 |
5.6M | 20M |
| Nov 12, 2024 |
10-Q filing | 186.9M shares outstanding |
190M | 2B |
| Sep 20, 2024 |
S-3 filing: Tonix Pharmaceuticals Holding Corp. is filing a shelf registration statement on Form S-3 to offer and sell up to $300,000,000 of common stock, preferred stock, warrants or units from time to time. |
140M | 2B |
| Aug 16, 2024 |
10-Q filing | 22.0M shares outstanding |
22M | 39K |
| Jul 10, 2024 |
8-K filing: Tonix Pharmaceuticals Holding Corp. closed a registered public offering of 3,393,600 shares of common stock and pre-funded warrants, resulting in gross proceeds of approximately $4.0 million. ($4.0M proceeds) |
3M | 39K |
| Jun 28, 2024 |
8-K filing: Tonix Pharmaceuticals Holding Corp. entered into a placement agency agreement with Dawson James Securities Inc. for a registered public offering of 2,833,900 shares of common stock and pre-funded warrants to purchase up to 4,228,158 shares of common stock, resulting in gross proceeds of approximately $4.0 million, and announced the closing of the offering on June 28, 2024. ($4.0M proceeds) |
3M | 39K |
| Jun 13, 2024 |
8-K filing: Tonix Pharmaceuticals closed a public offering of 1,199,448 shares of common stock and pre-funded warrants to purchase up to 2,568,110 additional shares, resulting in gross proceeds of approximately $4.0 million. ($4.0M proceeds) |
3M | 39K |
| Jun 10, 2024 |
Stock Split
8-K filing: Stock split 1-for-32 | Outstanding: 95,543,805 → 2,985,744 |
3M | 1.1M |
| May 13, 2024 |
10-Q filing | 95.5M shares outstanding |
96M | 36M |
| Apr 01, 2024 |
10-K filing | 84.5M shares outstanding |
84M | 36M |
| Mar 29, 2024 |
8-K filing: Tonix Pharmaceuticals Holding Corp. entered into a securities purchase agreement to sell and issue 10,766,666 shares of common stock, pre-funded warrants to purchase up to 3,900,000 shares of common stock, and Series E warrants to purchase up to 14,666,666 shares of common stock, resulting in gross proceeds of approximately $4.4 million. ($4.4M proceeds) |
24M | 36M |
| Dec 21, 2023 |
8-K filing: Tonix Pharmaceuticals Holding Corp. entered into a securities purchase agreement for the sale and issuance of shares of common stock, pre-funded warrants, and Series C and Series D warrants, with expected gross proceeds of approximately $144 million. ($144.0M proceeds) |
24M | 36M |
| Nov 09, 2023 |
10-Q filing | 23.8M shares outstanding |
24M | 36M |
| Sep 29, 2023 |
8-K filing: Tonix Pharmaceuticals Holding Corp. entered into a securities purchase agreement to sell and issue 4,050,000 shares of common stock, pre-funded warrants to purchase up to 4,950,000 shares of common stock, and warrants to purchase up to 18,000,000 shares of common stock for gross proceeds of approximately $4.5 million. ($4.5M proceeds) |
18M | 36M |
| Aug 10, 2023 |
10-Q filing | 17.8M shares outstanding |
18M | 36M |
| Jul 28, 2023 |
8-K filing: Tonix Pharmaceuticals Holding Corp. entered into a securities purchase agreement for the sale and issuance of 2,530,000 shares of common stock, pre-funded warrants to purchase up to 4,470,000 shares of common stock, and warrants to purchase up to 7,000,000 shares of common stock, with gross proceeds expected to be approximately $7.0 million. ($7.0M proceeds) |
10M | 36M |
| May 10, 2023 |
Stock Split
8-K filing: Stock split 1-for-6.25 | Outstanding: 63,352,898 → 10,340,360 |
10M | 36M |
| May 08, 2023 |
10-Q filing | 63.4M shares outstanding |
63M | 220M |
| Mar 13, 2023 |
10-K filing | 62.5M shares outstanding |
63M | 220M |
| Nov 07, 2022 |
10-Q filing | 57.5M shares outstanding |
58M | 220M |
| Oct 25, 2022 |
8-K filing: Tonix Pharmaceuticals Holding Corp. entered into a Securities Purchase Agreement to issue and sell 1,400,000 shares of Series A Convertible Redeemable Preferred Stock and 100,000 shares of Series B Convertible Redeemable Preferred Stock at $9.50 per share, for gross proceeds of $15.0 million. ($15.0M proceeds) |
45M | 220M |
| Aug 19, 2022 |
S-3 filing: Tonix Pharmaceuticals Holding Corp. intends to offer and sell common stock, preferred stock, warrants, or units with an aggregate initial offering price not exceeding $300,000,000. |
45M | 220M |
| Aug 17, 2022 |
8-K filing: Tonix Pharmaceuticals Holding Corp. entered into a purchase agreement with Lincoln Park Capital Fund, LLC, for the sale of up to $50.0 million of shares of the Company's common stock. |
43M | 7.8M |
| Aug 08, 2022 |
10-Q filing | 43.1M shares outstanding |
43M | 7.8M |
| Jun 22, 2022 |
8-K filing: Tonix Pharmaceuticals Holding Corp. entered into a Securities Purchase Agreement to issue and sell 2,500,000 shares of Series A Convertible Redeemable Preferred Stock and 500,000 shares of Series B Convertible Redeemable Preferred Stock at an offering price of $9.50 per share for gross proceeds of $30.0 million. ($30.0M proceeds) |
19M | 7.8M |
| May 17, 2022 |
Stock Split
8-K filing: Stock split 1-for-32 | Outstanding: 599,679,596 → 18,739,988 |
19M | 7.8M |
| May 09, 2022 |
10-Q filing | 599.7M shares outstanding |
600M | 250M |
| Mar 14, 2022 |
10-K filing | 533.9M shares outstanding |
530M | 250M |
| Dec 03, 2021 |
8-K filing: Tonix Pharmaceuticals Holding Corp. entered into a purchase agreement with Lincoln Park Capital Fund, LLC, for the sale of up to $80.0 million of shares of the Company's common stock, with the Company issuing 2,909,091 shares of Common Stock to Lincoln Park as a commitment fee. |
440M | 250M |
| Nov 08, 2021 |
10-Q filing | 439.6M shares outstanding |
440M | 250M |
| Aug 09, 2021 |
10-Q filing | 357.5M shares outstanding |
360M | 250M |
| May 14, 2021 |
8-K filing: Tonix Pharmaceuticals Holding Corp. entered into a purchase agreement with Lincoln Park Capital Fund, LLC, for the sale of up to $80.0 million of shares of the Company's common stock, with the Company issuing 1,280,000 shares of Common Stock to Lincoln Park as a commitment fee. |
330M | 250M |
| May 10, 2021 |
10-Q filing | 326.5M shares outstanding |
330M | 250M |
| Apr 23, 2021 |
S-3/A filing: The filing is an S-3/A registration statement for the potential offering of common stock, preferred stock, warrants, or units with an aggregate initial offering price not exceeding $500,000,000. |
160M | 250M |
| Apr 19, 2021 |
8-K filing: Tonix Pharmaceuticals entered into an exclusive License Agreement with OyaGen, issuing 2,752,294 shares of common stock to OyaGen and an affiliated entity as part of the consideration. |
160M | 250M |
| Apr 01, 2021 |
S-3 filing: The filing is an S-3 form indicating that the company may offer and sell common stock, preferred stock, warrants, or units, with an aggregate initial offering price not exceeding $500,000,000. |
160M | 250M |
| Feb 10, 2021 |
8-K filing: The Company closed its registered direct offering of 58,333,334 shares of common stock at a price of $1.20 per share, for gross proceeds of approximately $70,000,000. ($70.0M proceeds) |
160M | 250M |
| Feb 09, 2021 |
8-K filing: Tonix Pharmaceuticals Holdings Corp. entered into a Securities Purchase Agreement for the sale of 58,333,334 shares of common stock at $1.20 per share in a registered direct offering, with gross proceeds of $70.0 million. ($70.0M proceeds) |
160M | 250M |
| Jan 14, 2021 |
8-K filing: The Company closed its registered direct offering of 50,000,000 shares of common stock at a price of $0.80 per share, for gross proceeds of $40,000,000. ($40.0M proceeds) |
160M | 250M |
| Jan 12, 2021 |
8-K filing: Tonix Pharmaceuticals Holdings Corp. entered into a Securities Purchase Agreement for the sale of 50,000,000 shares of common stock at $0.80 per share in a registered direct offering. ($40.0M proceeds) |
160M | 250M |
| Dec 18, 2020 |
S-3 filing: The company intends to offer and sell, from time to time in one or more offerings, any combination of common stock, preferred stock, warrants, or units having an aggregate initial offering price not exceeding $150,000,000. |
160M | 250M |
| Nov 09, 2020 |
10-Q filing | 156.6M shares outstanding |
160M | 2.9M |
| Sep 04, 2020 |
8-K filing: Tonix Pharmaceuticals Holding Corp. entered into a purchase agreement with Lincoln Park Capital Fund, LLC, for the sale of up to $30.0 million of shares of the Company's common stock. The Company also increased the maximum aggregate offering price of shares issuable under the Sales Agreement with A.G.P./Alliance Global Partners from $50,000,000 to $100,000,000. ($30.0M proceeds) |
8.5M | 2.9M |
| Aug 10, 2020 |
10-Q filing | 8.5M shares outstanding |
8.5M | 2.9M |
| Jul 15, 2020 |
8-K filing: Tonix Pharmaceuticals Holding Corp. closed a registered direct offering of 20,940,000 shares of common stock at $0.50 per share, resulting in gross proceeds of $10,470,000, and after the offering, the company had 125,743,906 shares of common stock outstanding. ($10.47M proceeds) |
130M | 2.9M |
| Jul 14, 2020 |
8-K filing: Tonix Pharmaceuticals Holdings Corp. entered into a Securities Purchase Agreement for the sale of 20,940,000 shares of common stock at $0.50 per share in a registered direct offering. ($10.5M proceeds) |
49M | 2.9M |
| Jun 11, 2020 |
8-K filing: Tonix Pharmaceuticals Holding Corp. issued 2,000,000 shares of its common stock to Trigemina, Inc. as part of an asset purchase agreement. |
49M | 2.9M |
| May 12, 2020 |
10-Q filing | 49.4M shares outstanding |
49M | 2.9M |
| Apr 08, 2020 |
S-3 filing: The company intends to offer and sell common stock, preferred stock, warrants, or units with an aggregate initial offering price not exceeding $150,000,000. |
330K | 2.9M |
| Mar 24, 2020 |
10-K filing | 0.3M shares outstanding |
330K | 2.9M |
| Mar 03, 2020 |
8-K filing: The Company closed its registered direct offering of 14,550,000 shares of common stock at a price of $1.10 per share, for gross proceeds of $16,005,000. ($16.01M proceeds) |
49M | 2.9M |
| Feb 28, 2020 |
8-K filing: Tonix Pharmaceuticals Holdings Corp. entered into a Securities Purchase Agreement with certain institutional investors for the sale of 14,550,000 shares of common stock in a registered direct offering, with gross proceeds of approximately $16 million before deducting fees and expenses. ($16.0M proceeds) |
8.5M | 2.9M |
| Feb 11, 2020 |
8-K filing: Tonix Pharmaceuticals Holding Corp. closed its public offering of Class A Units and Class B Units, with the Class B Units consisting of Series B Convertible Preferred Stock. ($5.31M proceeds) |
8.5M | 2.9M |
| Feb 07, 2020 |
8-K filing: Tonix Pharmaceuticals Holding Corp. entered into an underwriting agreement to issue and sell 3,837,000 Class A Units and 5,313 Class B Units in a firm commitment underwritten public offering, with each Class A Unit consisting of one share of common stock and one warrant, and each Class B Unit consisting of one share of Series B Convertible Preferred Stock and one warrant. |
8.5M | 2.9M |
| Feb 06, 2020 |
S-1/A filing: This S-1/A filing includes information regarding the offering of Class A Units and Class B Units, consisting of common stock, preferred stock, and warrants, to fund Phase 3 development for our lead product candidate, TNX-102 SL, to advance the development of our other product candidates, including in-licensed product candidates, to repurchase shares of our common stock pursuant to a stock buyback program, and for working capital and other general corporate purposes. |
8.5M | 2.9M |
| Jan 21, 2020 |
S-1 filing: The company is offering 3,225,807 shares of common stock and 5,000 shares of Series B Convertible Preferred Stock. |
8.5M | 3.2M |