Tonix Pharmaceuticals Holding Corp. (TNXP) 10-Year Financial Performance & Capital Metrics

TNXP •

HealthcareBiotechnologyVaccines and Infectious Disease

AboutTonix Pharmaceuticals Holding Corp., a clinical-stage biopharmaceutical company, focuses on discovering, acquiring, developing, and licensing therapeutics and diagnostics to treat and prevent human disease and alleviate suffering. Its portfolio includes immunology, rare disease, infectious disease, and central nervous system (CNS) product candidates. The company's immunology portfolio includes biologics to address organ transplant rejection, autoimmunity, and cancer, including TNX-1500, a humanized monoclonal antibody targeting CD40-ligand being developed for the prevention of allograft and xenograft rejection and for the treatment of autoimmune diseases. Its rare disease portfolio comprises TNX-2900 for the treatment of Prader-Willi syndrome. The company's infectious disease pipeline includes TNX-801, a vaccine to prevent smallpox and monkeypox; TNX-1840 and TNX-1850 that are live virus vaccines based on its recombinant pox vaccine (RPV) platform for COVID-19; TNX-3500, a small molecule antiviral drug to treat acute COVID-19; and TNX-102 SL, a small molecule drug to treat Long COVID, a chronic post-acute COVID-19 condition. Its CNS portfolio includes small molecules and biologics to treat pain, neurologic, psychiatric, and addiction conditions, including TNX-102 SL, which is in mid-Phase 3 development for the management of fibromyalgia; TNX-1900 that is in development for the prevention of migraine headache; and TNX-1300, a biologic designed to treat cocaine intoxication. The company was founded in 2007 and is headquartered in Chatham, New Jersey.Show more

Revenue $10M +29.9%
EBITDA -$133M -16.8%
Net Income -$130M -11.5%
EPS (Diluted) -176.60 +97.2%
Gross Margin 23.07% -40.8%
EBITDA Margin -1320.39% +10.1%
Operating Margin -1354.28% +11.1%
Net Margin -1288.25% +14.2%
ROE -106.12% -42.2%
ROIC -150.25% -50.7%
Debt/Equity 0.04 -59.2%
Interest Coverage -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓Trading at only 0.2x book value

✗Weaknesses

✗Negative free cash flow
✗Weak momentum: RS Rating 12 (bottom 12%)
✗Low quality earnings: Net income not backed by cash flow
✗Shares diluted 23.6% in last year
✗Trading more than 30% below 52-week high
✗Low asset turnover indicates capital-intensive operations

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y-

3Y-

TTM-8.79%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM26.64%

EPS CAGR

10Y-

5Y-

3Y-

TTM99.77%

ROCE

10Y Avg-99.53%

5Y Avg-76.5%

3Y Avg-73.05%

Latest-97.59%

Peer Comparison

Vaccines and Infectious Disease

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
CVACCureVac N.V.	1.05B	4.66	6.47	8.96%	37.93%	33.02%	7.95%	0.06
NVAXNovavax, Inc.	1.67B	10.14	3.93	64.69%	39.19%
SCNIScinai Immunotherapeutics Ltd.	3.03B	0.89	0.15		401.83%	58.65%		0.21
TNXPTonix Pharmaceuticals Holding Corp.	142.05M	13.97	-0.08	29.94%	-9.63%	-42.93%		0.04
INOInovio Pharmaceuticals, Inc.	65.34M	1.81	-0.46	-73.83%	-592.82%	-115.42%		0.17
IVVDInvivyd, Inc.	362.35M	1.69	-1.18		-119.63%	-64.32%		0.02
SPROSpero Therapeutics, Inc.	122.2M	2.17	-1.71	-53.77%	-122.56%	-165.46%		0.09
AVIRAtea Pharmaceuticals, Inc.	365.63M	4.68	-2.34			-46.56%		0.00

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	0	0	0	0	0	0	0	0	7.77M	10.09M
Revenue Growth %	-	-	-	-	-	-	-	-	-	29.94%
Cost of Goods Sold+	48.16M	38.97M	21.29M	26.32M	0	27K	0	0	4.74M	7.76M
COGS % of Revenue	-	-	-	-	-	-	-	-	61.03%	76.93%
Gross Profit+	-48.16M	-38.97M	-21.29M	-26.32M	0	-27K	0	0	3.03M	2.33M
Gross Margin %	-	-	-	-	-	-	-	-	38.97%	23.07%
Gross Profit Growth %	-74.15%	19.09%	45.36%	-23.63%	100%	-	100%	-	-	-23.06%
Operating Expenses+	48.16M	38.97M	21.29M	26.32M	28.83M	50.48M	92.31M	112.09M	121.41M	139.03M
OpEx % of Revenue	-	-	-	-	-	-	-	-	1562.91%	1377.35%
Selling, General & Admin	12.66M	10.44M	7.95M	8.76M	10.64M	14.33M	23.47M	30.21M	34.75M	40.1M
SG&A % of Revenue	-	-	-	-	-	-	-	-	447.37%	397.28%
Research & Development	35.5M	28.53M	13.34M	17.56M	18.19M	36.16M	68.84M	81.88M	86.66M	40.45M
R&D % of Revenue	-	-	-	-	-	-	-	-	1115.54%	400.71%
Other Operating Expenses	0	0	0	0	0	0	0	0	0	58.48M
Operating Income+	-48.16M	-38.97M	-21.29M	-26.32M	-28.83M	-50.51M	-92.31M	-112.09M	-118.38M	-136.7M
Operating Margin %	-	-	-	-	-	-	-	-	-1523.94%	-1354.28%
Operating Income Growth %	-74.15%	19.09%	45.36%	-23.63%	-9.52%	-75.22%	-82.76%	-21.43%	-5.61%	-15.48%
EBITDA+	-48M	-38.76M	-21.23M	-26.27M	-28.8M	-50.48M	-92.26M	-110.84M	-114.09M	-133.28M
EBITDA Margin %	-	-	-	-	-	-	-	-	-1468.7%	-1320.39%
EBITDA Growth %	-73.79%	19.25%	45.24%	-23.75%	-9.65%	-75.28%	-82.75%	-20.13%	-2.93%	-16.82%
D&A (Non-Cash Add-back)	161K	206K	64K	54K	26K	27K	50K	1.25M	4.29M	3.42M
EBIT	-48.16M	-38.97M	-21.29M	-26.32M	-28.83M	-50.46M	-92.31M	-112.09M	-118.38M	-77.74M
Net Interest Income+	0	0	0	0	0	48K	25K	1.87M	0	0
Interest Income	108K	127K	168K	233K	0	48K	25K	1.87M	0	0
Interest Expense	0	0	0	0	0	0	0	0	0	0
Other Income/Expense	108K	127K	168K	233K	210K	48K	25K	1.87M	1.72M	6.67M
Pretax Income+	-48.05M	-38.84M	-21.12M	-26.09M	-28.62M	-50.46M	-92.29M	-110.22M	-116.66M	-130.04M
Pretax Margin %	-	-	-	-	-	-	-	-	-1501.78%	-1288.25%
Income Tax+	-161K	-206K	-70K	233K	0	0	0	0	0	0
Effective Tax Rate %	100%	100%	100%	112.52%	100%	100%	100%	100%	100%	100%
Net Income+	-48.05M	-38.84M	-21.12M	-29.36M	-28.62M	-50.46M	-92.29M	-110.22M	-116.66M	-130.04M
Net Margin %	-	-	-	-	-	-	-	-	-1501.78%	-1288.25%
Net Income Growth %	-74.01%	19.17%	45.62%	-38.97%	2.51%	-76.33%	-82.88%	-19.43%	-5.84%	-11.47%
Net Income (Continuing)	-48.05M	-38.84M	-21.12M	-26.09M	-28.62M	-50.46M	-92.29M	-110.22M	-116.66M	-130.04M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-511212.77	-199189.74	-54023.02	-18064.62	-3866.00	-5056.00	-163968.00	-811.68	-6368.84	-176.60
EPS Growth %	0.04%	61.04%	72.88%	66.56%	78.6%	-30.78%	-3143.04%	99.5%	-684.65%	97.23%
EPS (Basic)	-511212.77	-199189.74	-54023.02	-18064.62	-3866.00	-5056.00	-163968.00	-811.68	-6368.84	-176.60
Diluted Shares Outstanding	9.4K	19.5K	39.1K	162.5K	804.2K	2.56M	563	3.07M	1.83M	2.26M
Basic Shares Outstanding	9.4K	19.5K	39.1K	162.5K	804.2K	2.56M	563	3.07M	1.83M	2.26M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	46.36M	27.14M	26.44M	26.06M	13.95M	87.99M	189.05M	130.78M	47.77M	119M
Cash & Short-Term Investments	43.02M	26.12M	25.5M	25.03M	11.25M	77.07M	178.66M	120.23M	24.95M	98.78M
Cash Only	19.18M	18.94M	25.5M	25.03M	11.25M	77.07M	178.66M	120.23M	24.95M	98.78M
Short-Term Investments	23.84M	7.18M	0	0	0	0	0	0	0	0
Accounts Receivable	2.83M	0	0	525K	1.01M	7.63M	7.73M	8.04M	4.59M	7.9M
Days Sales Outstanding	-	-	-	-	-	-	-	-	215.67	285.81
Inventory	0	0	0	0	0	0	0	0	14.15M	8.41M
Days Inventory Outstanding	-	-	-	-	-	-	-	-	1.09K	395.22
Other Current Assets	0	0	0	497K	400K	1.66M	1.18M	1.23M	2.43M	1.46M
Total Non-Current Assets+	659K	370K	311K	263K	610K	10.19M	51.85M	94.91M	106.69M	43.89M
Property, Plant & Equipment	350K	150K	91K	43K	390K	9.83M	51.47M	94.53M	94.85M	42.82M
Fixed Asset Turnover	-	-	-	-	-	-	-	-	0.08x	0.24x
Goodwill	0	0	0	0	0	0	0	0	965K	0
Intangible Assets	120K	120K	120K	120K	0	120K	120K	120K	9.74M	120K
Long-Term Investments	189K	89K	89K	100K	0	240K	240K	0	0	904K
Other Non-Current Assets	189K	100K	100K	100K	100K	245K	259K	264K	1.13M	47K
Total Assets+	47.02M	27.51M	26.75M	26.32M	14.56M	98.18M	240.9M	225.69M	154.46M	162.89M
Asset Turnover	-	-	-	-	-	-	-	-	0.05x	0.06x
Asset Growth %	18.91%	-41.49%	-2.75%	-1.63%	-44.69%	574.43%	145.36%	-6.31%	-31.56%	5.46%
Total Current Liabilities+	6.65M	2.12M	2.13M	2.65M	5.13M	9.82M	21.72M	18.18M	18.88M	18.31M
Accounts Payable	3.05M	872K	1.3M	1.4M	3.07M	4.6M	13.28M	8.07M	3.78M	4.55M
Days Payables Outstanding	23.11	8.17	22.22	19.47	-	62.16K	-	-	291.17	213.69
Short-Term Debt	0	0	0	0	0	0	0	0	2.35M	0
Deferred Revenue (Current)	2.25M	504K	519K	475K	704K	2.17M	2.83M	3.27M	2.98M	1.82M
Other Current Liabilities	0	0	0	0	690K	452K	2.25M	3.65M	5.14M	7.32M
Current Ratio	6.97x	12.83x	12.44x	9.81x	2.72x	8.96x	8.71x	7.19x	2.53x	6.50x
Quick Ratio	6.97x	12.83x	12.44x	9.81x	2.72x	8.96x	8.71x	7.19x	1.78x	6.04x
Cash Conversion Cycle	-	-	-	-	-	-	-	-	1.01K	467.35
Total Non-Current Liabilities+	106K	33K	12K	0	6K	716K	467K	328K	30.05M	5.03M
Long-Term Debt	0	0	0	0	0	0	0	0	6.56M	4.67M
Capital Lease Obligations	0	0	0	0	6K	716K	467K	328K	632K	358K
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	0	0	0	0	0	0	0	0	22.86M	0
Total Liabilities	6.76M	2.15M	2.14M	2.65M	5.14M	10.54M	22.18M	18.51M	48.93M	23.33M
Total Debt+	0	0	0	0	358K	1.31M	956K	760K	9.81M	5.3M
Net Debt	-19.18M	-18.94M	-25.5M	-25.03M	-10.89M	-75.76M	-177.7M	-119.47M	-15.13M	-93.48M
Debt / Equity	-	-	-	-	0.04x	0.01x	0.00x	0.00x	0.09x	0.04x
Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Net Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Interest Coverage	-	-	-	-	-	-	-	-	-	-
Total Equity+	40.26M	25.36M	24.62M	23.66M	9.42M	87.65M	218.72M	207.18M	105.53M	139.56M
Equity Growth %	11.55%	-37.01%	-2.94%	-3.87%	-60.21%	830.74%	149.54%	-5.27%	-49.07%	32.25%
Book Value per Share	4283.19	1300.56	629.57	145.62	11.71	34.23	388597.79	67.51	57.61	61.66
Total Shareholders' Equity	40.26M	25.36M	24.62M	23.66M	9.42M	87.65M	218.72M	207.18M	105.53M	139.56M
Common Stock	19K	4K	8K	3K	9K	206K	496K	12K	59K	4K
Retained Earnings	-102.4M	-141.24M	-162.36M	-188.45M	-217.07M	-267.53M	-359.82M	-470.04M	-600.66M	-730.69M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-17K	-7K	-12K	-41K	-46K	-62K	-92K	-167K	-232K	-255K
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-42.53M	-37.31M	-19.13M	-23.97M	-26.68M	-48.57M	-75.56M	-98.05M	-102M	-60.92M
Operating CF Margin %	-	-	-	-	-	-	-	-	-1313.12%	-603.58%
Operating CF Growth %	-86.2%	12.26%	48.74%	-25.32%	-11.31%	-82.01%	-55.58%	-29.77%	-4.03%	40.27%
Net Income	-48.05M	-38.84M	-21.12M	-26.09M	-28.62M	-50.46M	-92.29M	-110.22M	-116.66M	-130.04M
Depreciation & Amortization	161K	206K	70K	54K	26K	27K	50K	1.25M	4.29M	3.42M
Stock-Based Compensation	4.39M	3.27M	1.79M	1.63M	1.46M	2.88M	7.9M	10.91M	9.28M	4.78M
Deferred Taxes	0	0	0	0	0	0	0	0	0	0
Other Non-Cash Items	3.06M	133K	1.5M	1.63M	0	1.36M	3M	0	1.12M	55.14M
Working Capital Changes	976K	-2.08M	135K	437K	452K	-2.37M	5.78M	-2K	-35K	5.78M
Change in Receivables	0	0	0	0	0	0	0	0	0	-3.68M
Change in Inventory	0	0	0	0	0	0	0	0	61K	3.74M
Change in Payables	1.58M	-2.19M	424K	106K	1.66M	1.53M	3.53M	-1.04M	-3.49M	927K
Cash from Investing+	-24.17M	16.59M	7.17M	-6K	-17K	-8.56M	-35.31M	-48.15M	-29.07M	-120K
Capital Expenditures	-238K	-66K	-5K	-6K	-17K	-8.56M	-35.31M	-48.15M	-7.89M	-120K
CapEx % of Revenue	-	-	-	-	-	-	-	-	101.63%	1.19%
Acquisitions	120K	0	0	0	0	0	0	0	-22.17M	0
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-120K	45K	7.17M	-6K	0	0	0	0	999K	0
Cash from Financing+	47.69M	20.5M	18.52M	23.54M	12.92M	123.11M	212.49M	87.84M	36.52M	134.87M
Debt Issued (Net)	0	0	0	0	0	0	0	0	8.94M	-2.35M
Equity Issued (Net)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Dividends Paid	0	0	0	-3.27M	0	-451K	0	0	0	0
Share Repurchases	0	0	0	0	0	0	0	0	-13.96M	0
Other Financing	9K	0	14K	3.27M	101K	10.35M	98K	40K	22.6M	-2.97M
Net Change in Cash	-19.01M	-234K	6.55M	-451K	-13.79M	65.96M	101.59M	-58.43M	-94.62M	73.83M
Free Cash Flow+	-42.77M	-37.38M	-19.13M	-23.98M	-26.7M	-57.13M	-110.86M	-146.2M	-109.9M	-61.05M
FCF Margin %	-	-	-	-	-	-	-	-	-1414.75%	-604.77%
FCF Growth %	-84.66%	12.59%	48.82%	-25.32%	-11.36%	-113.97%	-94.06%	-31.87%	24.83%	44.45%
FCF per Share	-4549.57	-1916.97	-489.34	-147.55	-33.20	-22.31	-196973.74	-47.64	-60.00	-26.97
FCF Conversion (FCF/Net Income)	0.89x	0.96x	0.91x	0.82x	0.93x	0.96x	0.82x	0.89x	0.87x	0.47x
Interest Paid	0	0	0	0	0	0	0	0	88K	1.23M
Taxes Paid	0	0	65K	82K	0	0	0	0	0	0

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-125.87%	-118.38%	-84.53%	-121.6%	-173.02%	-103.98%	-60.25%	-51.76%	-74.61%	-106.12%
Return on Invested Capital (ROIC)	-380.33%	-212.5%	-576.47%	-	-	-727.34%	-261.73%	-130.62%	-99.7%	-150.25%
Gross Margin	-	-	-	-	-	-	-	-	38.97%	23.07%
Net Margin	-	-	-	-	-	-	-	-	-1501.78%	-1288.25%
Debt / Equity	-	-	-	-	0.04x	0.01x	0.00x	0.00x	0.09x	0.04x
FCF Conversion	0.89x	0.96x	0.91x	0.82x	0.93x	0.96x	0.82x	0.89x	0.87x	0.47x
Revenue Growth	-	-	-	-	-	-	-	-	-	29.94%

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Tonix Pharmaceuticals Holding Corp. (TNXP) 10-Year Financial Performance & Capital Metrics

TNXP •

HealthcareBiotechnologyVaccines and Infectious Disease

Revenue $10M +29.9%
EBITDA -$133M -16.8%
Net Income -$130M -11.5%
EPS (Diluted) -176.60 +97.2%
Gross Margin 23.07% -40.8%
EBITDA Margin -1320.39% +10.1%
Operating Margin -1354.28% +11.1%
Net Margin -1288.25% +14.2%
ROE -106.12% -42.2%
ROIC -150.25% -50.7%
Debt/Equity 0.04 -59.2%
Interest Coverage -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓Trading at only 0.2x book value

✗Weaknesses

✗Negative free cash flow
✗Weak momentum: RS Rating 12 (bottom 12%)
✗Low quality earnings: Net income not backed by cash flow
✗Shares diluted 23.6% in last year
✗Trading more than 30% below 52-week high
✗Low asset turnover indicates capital-intensive operations

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y-

3Y-

TTM-8.79%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM26.64%

EPS CAGR

10Y-

5Y-

3Y-

TTM99.77%

ROCE

10Y Avg-99.53%

5Y Avg-76.5%

3Y Avg-73.05%

Latest-97.59%

Peer Comparison

Vaccines and Infectious Disease

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
CVACCureVac N.V.	1.05B	4.66	6.47	8.96%	37.93%	33.02%	7.95%	0.06
NVAXNovavax, Inc.	1.67B	10.14	3.93	64.69%	39.19%
SCNIScinai Immunotherapeutics Ltd.	3.03B	0.89	0.15		401.83%	58.65%		0.21
TNXPTonix Pharmaceuticals Holding Corp.	142.05M	13.97	-0.08	29.94%	-9.63%	-42.93%		0.04
INOInovio Pharmaceuticals, Inc.	65.34M	1.81	-0.46	-73.83%	-592.82%	-115.42%		0.17
IVVDInvivyd, Inc.	362.35M	1.69	-1.18		-119.63%	-64.32%		0.02
SPROSpero Therapeutics, Inc.	122.2M	2.17	-1.71	-53.77%	-122.56%	-165.46%		0.09
AVIRAtea Pharmaceuticals, Inc.	365.63M	4.68	-2.34			-46.56%		0.00

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	0	0	0	0	0	0	0	0	7.77M	10.09M
Revenue Growth %	-	-	-	-	-	-	-	-	-	29.94%
Cost of Goods Sold+	48.16M	38.97M	21.29M	26.32M	0	27K	0	0	4.74M	7.76M
COGS % of Revenue	-	-	-	-	-	-	-	-	61.03%	76.93%
Gross Profit+	-48.16M	-38.97M	-21.29M	-26.32M	0	-27K	0	0	3.03M	2.33M
Gross Margin %	-	-	-	-	-	-	-	-	38.97%	23.07%
Gross Profit Growth %	-74.15%	19.09%	45.36%	-23.63%	100%	-	100%	-	-	-23.06%
Operating Expenses+	48.16M	38.97M	21.29M	26.32M	28.83M	50.48M	92.31M	112.09M	121.41M	139.03M
OpEx % of Revenue	-	-	-	-	-	-	-	-	1562.91%	1377.35%
Selling, General & Admin	12.66M	10.44M	7.95M	8.76M	10.64M	14.33M	23.47M	30.21M	34.75M	40.1M
SG&A % of Revenue	-	-	-	-	-	-	-	-	447.37%	397.28%
Research & Development	35.5M	28.53M	13.34M	17.56M	18.19M	36.16M	68.84M	81.88M	86.66M	40.45M
R&D % of Revenue	-	-	-	-	-	-	-	-	1115.54%	400.71%
Other Operating Expenses	0	0	0	0	0	0	0	0	0	58.48M
Operating Income+	-48.16M	-38.97M	-21.29M	-26.32M	-28.83M	-50.51M	-92.31M	-112.09M	-118.38M	-136.7M
Operating Margin %	-	-	-	-	-	-	-	-	-1523.94%	-1354.28%
Operating Income Growth %	-74.15%	19.09%	45.36%	-23.63%	-9.52%	-75.22%	-82.76%	-21.43%	-5.61%	-15.48%
EBITDA+	-48M	-38.76M	-21.23M	-26.27M	-28.8M	-50.48M	-92.26M	-110.84M	-114.09M	-133.28M
EBITDA Margin %	-	-	-	-	-	-	-	-	-1468.7%	-1320.39%
EBITDA Growth %	-73.79%	19.25%	45.24%	-23.75%	-9.65%	-75.28%	-82.75%	-20.13%	-2.93%	-16.82%
D&A (Non-Cash Add-back)	161K	206K	64K	54K	26K	27K	50K	1.25M	4.29M	3.42M
EBIT	-48.16M	-38.97M	-21.29M	-26.32M	-28.83M	-50.46M	-92.31M	-112.09M	-118.38M	-77.74M
Net Interest Income+	0	0	0	0	0	48K	25K	1.87M	0	0
Interest Income	108K	127K	168K	233K	0	48K	25K	1.87M	0	0
Interest Expense	0	0	0	0	0	0	0	0	0	0
Other Income/Expense	108K	127K	168K	233K	210K	48K	25K	1.87M	1.72M	6.67M
Pretax Income+	-48.05M	-38.84M	-21.12M	-26.09M	-28.62M	-50.46M	-92.29M	-110.22M	-116.66M	-130.04M
Pretax Margin %	-	-	-	-	-	-	-	-	-1501.78%	-1288.25%
Income Tax+	-161K	-206K	-70K	233K	0	0	0	0	0	0
Effective Tax Rate %	100%	100%	100%	112.52%	100%	100%	100%	100%	100%	100%
Net Income+	-48.05M	-38.84M	-21.12M	-29.36M	-28.62M	-50.46M	-92.29M	-110.22M	-116.66M	-130.04M
Net Margin %	-	-	-	-	-	-	-	-	-1501.78%	-1288.25%
Net Income Growth %	-74.01%	19.17%	45.62%	-38.97%	2.51%	-76.33%	-82.88%	-19.43%	-5.84%	-11.47%
Net Income (Continuing)	-48.05M	-38.84M	-21.12M	-26.09M	-28.62M	-50.46M	-92.29M	-110.22M	-116.66M	-130.04M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-511212.77	-199189.74	-54023.02	-18064.62	-3866.00	-5056.00	-163968.00	-811.68	-6368.84	-176.60
EPS Growth %	0.04%	61.04%	72.88%	66.56%	78.6%	-30.78%	-3143.04%	99.5%	-684.65%	97.23%
EPS (Basic)	-511212.77	-199189.74	-54023.02	-18064.62	-3866.00	-5056.00	-163968.00	-811.68	-6368.84	-176.60
Diluted Shares Outstanding	9.4K	19.5K	39.1K	162.5K	804.2K	2.56M	563	3.07M	1.83M	2.26M
Basic Shares Outstanding	9.4K	19.5K	39.1K	162.5K	804.2K	2.56M	563	3.07M	1.83M	2.26M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	46.36M	27.14M	26.44M	26.06M	13.95M	87.99M	189.05M	130.78M	47.77M	119M
Cash & Short-Term Investments	43.02M	26.12M	25.5M	25.03M	11.25M	77.07M	178.66M	120.23M	24.95M	98.78M
Cash Only	19.18M	18.94M	25.5M	25.03M	11.25M	77.07M	178.66M	120.23M	24.95M	98.78M
Short-Term Investments	23.84M	7.18M	0	0	0	0	0	0	0	0
Accounts Receivable	2.83M	0	0	525K	1.01M	7.63M	7.73M	8.04M	4.59M	7.9M
Days Sales Outstanding	-	-	-	-	-	-	-	-	215.67	285.81
Inventory	0	0	0	0	0	0	0	0	14.15M	8.41M
Days Inventory Outstanding	-	-	-	-	-	-	-	-	1.09K	395.22
Other Current Assets	0	0	0	497K	400K	1.66M	1.18M	1.23M	2.43M	1.46M
Total Non-Current Assets+	659K	370K	311K	263K	610K	10.19M	51.85M	94.91M	106.69M	43.89M
Property, Plant & Equipment	350K	150K	91K	43K	390K	9.83M	51.47M	94.53M	94.85M	42.82M
Fixed Asset Turnover	-	-	-	-	-	-	-	-	0.08x	0.24x
Goodwill	0	0	0	0	0	0	0	0	965K	0
Intangible Assets	120K	120K	120K	120K	0	120K	120K	120K	9.74M	120K
Long-Term Investments	189K	89K	89K	100K	0	240K	240K	0	0	904K
Other Non-Current Assets	189K	100K	100K	100K	100K	245K	259K	264K	1.13M	47K
Total Assets+	47.02M	27.51M	26.75M	26.32M	14.56M	98.18M	240.9M	225.69M	154.46M	162.89M
Asset Turnover	-	-	-	-	-	-	-	-	0.05x	0.06x
Asset Growth %	18.91%	-41.49%	-2.75%	-1.63%	-44.69%	574.43%	145.36%	-6.31%	-31.56%	5.46%
Total Current Liabilities+	6.65M	2.12M	2.13M	2.65M	5.13M	9.82M	21.72M	18.18M	18.88M	18.31M
Accounts Payable	3.05M	872K	1.3M	1.4M	3.07M	4.6M	13.28M	8.07M	3.78M	4.55M
Days Payables Outstanding	23.11	8.17	22.22	19.47	-	62.16K	-	-	291.17	213.69
Short-Term Debt	0	0	0	0	0	0	0	0	2.35M	0
Deferred Revenue (Current)	2.25M	504K	519K	475K	704K	2.17M	2.83M	3.27M	2.98M	1.82M
Other Current Liabilities	0	0	0	0	690K	452K	2.25M	3.65M	5.14M	7.32M
Current Ratio	6.97x	12.83x	12.44x	9.81x	2.72x	8.96x	8.71x	7.19x	2.53x	6.50x
Quick Ratio	6.97x	12.83x	12.44x	9.81x	2.72x	8.96x	8.71x	7.19x	1.78x	6.04x
Cash Conversion Cycle	-	-	-	-	-	-	-	-	1.01K	467.35
Total Non-Current Liabilities+	106K	33K	12K	0	6K	716K	467K	328K	30.05M	5.03M
Long-Term Debt	0	0	0	0	0	0	0	0	6.56M	4.67M
Capital Lease Obligations	0	0	0	0	6K	716K	467K	328K	632K	358K
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	0	0	0	0	0	0	0	0	22.86M	0
Total Liabilities	6.76M	2.15M	2.14M	2.65M	5.14M	10.54M	22.18M	18.51M	48.93M	23.33M
Total Debt+	0	0	0	0	358K	1.31M	956K	760K	9.81M	5.3M
Net Debt	-19.18M	-18.94M	-25.5M	-25.03M	-10.89M	-75.76M	-177.7M	-119.47M	-15.13M	-93.48M
Debt / Equity	-	-	-	-	0.04x	0.01x	0.00x	0.00x	0.09x	0.04x
Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Net Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Interest Coverage	-	-	-	-	-	-	-	-	-	-
Total Equity+	40.26M	25.36M	24.62M	23.66M	9.42M	87.65M	218.72M	207.18M	105.53M	139.56M
Equity Growth %	11.55%	-37.01%	-2.94%	-3.87%	-60.21%	830.74%	149.54%	-5.27%	-49.07%	32.25%
Book Value per Share	4283.19	1300.56	629.57	145.62	11.71	34.23	388597.79	67.51	57.61	61.66
Total Shareholders' Equity	40.26M	25.36M	24.62M	23.66M	9.42M	87.65M	218.72M	207.18M	105.53M	139.56M
Common Stock	19K	4K	8K	3K	9K	206K	496K	12K	59K	4K
Retained Earnings	-102.4M	-141.24M	-162.36M	-188.45M	-217.07M	-267.53M	-359.82M	-470.04M	-600.66M	-730.69M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-17K	-7K	-12K	-41K	-46K	-62K	-92K	-167K	-232K	-255K
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-42.53M	-37.31M	-19.13M	-23.97M	-26.68M	-48.57M	-75.56M	-98.05M	-102M	-60.92M
Operating CF Margin %	-	-	-	-	-	-	-	-	-1313.12%	-603.58%
Operating CF Growth %	-86.2%	12.26%	48.74%	-25.32%	-11.31%	-82.01%	-55.58%	-29.77%	-4.03%	40.27%
Net Income	-48.05M	-38.84M	-21.12M	-26.09M	-28.62M	-50.46M	-92.29M	-110.22M	-116.66M	-130.04M
Depreciation & Amortization	161K	206K	70K	54K	26K	27K	50K	1.25M	4.29M	3.42M
Stock-Based Compensation	4.39M	3.27M	1.79M	1.63M	1.46M	2.88M	7.9M	10.91M	9.28M	4.78M
Deferred Taxes	0	0	0	0	0	0	0	0	0	0
Other Non-Cash Items	3.06M	133K	1.5M	1.63M	0	1.36M	3M	0	1.12M	55.14M
Working Capital Changes	976K	-2.08M	135K	437K	452K	-2.37M	5.78M	-2K	-35K	5.78M
Change in Receivables	0	0	0	0	0	0	0	0	0	-3.68M
Change in Inventory	0	0	0	0	0	0	0	0	61K	3.74M
Change in Payables	1.58M	-2.19M	424K	106K	1.66M	1.53M	3.53M	-1.04M	-3.49M	927K
Cash from Investing+	-24.17M	16.59M	7.17M	-6K	-17K	-8.56M	-35.31M	-48.15M	-29.07M	-120K
Capital Expenditures	-238K	-66K	-5K	-6K	-17K	-8.56M	-35.31M	-48.15M	-7.89M	-120K
CapEx % of Revenue	-	-	-	-	-	-	-	-	101.63%	1.19%
Acquisitions	120K	0	0	0	0	0	0	0	-22.17M	0
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-120K	45K	7.17M	-6K	0	0	0	0	999K	0
Cash from Financing+	47.69M	20.5M	18.52M	23.54M	12.92M	123.11M	212.49M	87.84M	36.52M	134.87M
Debt Issued (Net)	0	0	0	0	0	0	0	0	8.94M	-2.35M
Equity Issued (Net)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Dividends Paid	0	0	0	-3.27M	0	-451K	0	0	0	0
Share Repurchases	0	0	0	0	0	0	0	0	-13.96M	0
Other Financing	9K	0	14K	3.27M	101K	10.35M	98K	40K	22.6M	-2.97M
Net Change in Cash	-19.01M	-234K	6.55M	-451K	-13.79M	65.96M	101.59M	-58.43M	-94.62M	73.83M
Free Cash Flow+	-42.77M	-37.38M	-19.13M	-23.98M	-26.7M	-57.13M	-110.86M	-146.2M	-109.9M	-61.05M
FCF Margin %	-	-	-	-	-	-	-	-	-1414.75%	-604.77%
FCF Growth %	-84.66%	12.59%	48.82%	-25.32%	-11.36%	-113.97%	-94.06%	-31.87%	24.83%	44.45%
FCF per Share	-4549.57	-1916.97	-489.34	-147.55	-33.20	-22.31	-196973.74	-47.64	-60.00	-26.97
FCF Conversion (FCF/Net Income)	0.89x	0.96x	0.91x	0.82x	0.93x	0.96x	0.82x	0.89x	0.87x	0.47x
Interest Paid	0	0	0	0	0	0	0	0	88K	1.23M
Taxes Paid	0	0	65K	82K	0	0	0	0	0	0

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-125.87%	-118.38%	-84.53%	-121.6%	-173.02%	-103.98%	-60.25%	-51.76%	-74.61%	-106.12%
Return on Invested Capital (ROIC)	-380.33%	-212.5%	-576.47%	-	-	-727.34%	-261.73%	-130.62%	-99.7%	-150.25%
Gross Margin	-	-	-	-	-	-	-	-	38.97%	23.07%
Net Margin	-	-	-	-	-	-	-	-	-1501.78%	-1288.25%
Debt / Equity	-	-	-	-	0.04x	0.01x	0.00x	0.00x	0.09x	0.04x
FCF Conversion	0.89x	0.96x	0.91x	0.82x	0.93x	0.96x	0.82x	0.89x	0.87x	0.47x
Revenue Growth	-	-	-	-	-	-	-	-	-	29.94%

Tonix Pharmaceuticals Holding Corp. (TNXP) 10-Year Financial Performance & Capital Metrics

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Tonix Pharmaceuticals Holding Corp. (TNXP) 10-Year Financial Performance & Capital Metrics

Key Insights

✓Strengths

✗Weaknesses

Price & Volume

Growth Metrics

Revenue CAGR

Profit (Net Income) CAGR

EPS CAGR

ROCE

Peer Comparison

Compare TNXP vs Peers

vs BNTX

vs MRNA

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Profit & Loss

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Deep Dive Analysis

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Dividend History

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Financial Ratios