10-Q - Tonix Pharmaceuticals Holding Corp. (0001430306) (Filer)

Mon, May 12, 8:40 PM (63 days ago)

**Summary of Tonix Pharmaceuticals Holding Corp. (TNXP) Q1 2025 Financial Performance** **Financial Health and Performance:** - **Revenue:** $2.43 million, slightly down from $2.48 million in Q1 2024. - **Operating Loss:** $16.05 million, improved from $21.35 million in Q1 2024. - **Net Loss:** $16.83 million, compared to $14.94 million in Q1 2024. - **Cash and Cash Equivalents:** $131.72 million, up from $98.78 million in Q1 2024. - **Working Capital:** $137.4 million, indicating liquidity to cover short-term obligations. **Profit Margins:** - **Gross Margin:** Negative due to high operating expenses. - **Operating Margin:** -661.7%, reflecting significant operating losses. **Cash Flow:** - **Operating Cash Flow:** -$16.58 million, indicating cash outflows from operations. - **Investing Cash Flow:** -$0.01 million, minimal investment activities. - **Financing Cash Flow:** +$49.53 million, primarily from equity offerings. **Earnings Changes:** - **Operating Loss Improvement:** $5.30 million reduction in operating loss year-over-year. - **Net Loss Increase:** $1.89 million increase in net loss year-over-year, primarily due to debt extinguishment loss. **Quarterly Performance Discussion:** - **Revenue:** Stable with a slight decrease in product revenue. - **Expenses:** Significant reduction in research and development expenses. - **Cash Flow:** Positive financing cash flow offset by negative operating cash flow. **Trends and Uncertainties:** - **Revenue Trends:** Stable but subject to market conditions. - **Expense Trends:** Reduction in R&D expenses, but high general and administrative costs. - **Uncertainties:** Dependence on regulatory approvals, market conditions, and additional financing. **Future Operations Impact:** - **Liquidity:** Sufficient for planned operations into Q2 2026. - **Funding Needs:** Requires additional financing to sustain operations beyond Q2 2026. - **Strategic Initiatives:** Focus on advancing TNX-102 SL for fibromyalgia and other pipeline products. **Ticker:** TNXP