Home / Going-concern warnings / Tonix Pharmaceuticals Holding Corp.
Filed 2026-05-11 路 Form 10-Q 路 Accession 0001999371-26-010486 micro
Price before filing: $14.09 (2026-05-08 close, split/dividend-adjusted)
Market cap at flag: $188.5M (2026-05-11) 路 Latest: $100.5M (2026-10-16)
| Window | TNXP | SPY | vs SPY | |
|---|---|---|---|---|
| 30 days | -22.2% | -1.7% | -20.6% | 2026-06-10 |
| 90 days | -10.6% | +5.1% | -15.7% | 2026-08-10 |
| 180 days | pending | pending | until 2026-11-07 |
Return from the last close before the filing date to the first close on/after the window end. Pending windows have not fully elapsed. Past performance says nothing certain about the future.
90 days before the flag: 1 insider bought $286K (2 purchases)
30 days after: 2 insiders bought $117K (2 purchases)
| Date | Insider | Type | Shares | Price | Value | 10b5-1 plan | Source |
|---|---|---|---|---|---|---|---|
| 2026-03-18 | LEDERMAN SETH Chief Executive Officer, Director | Purchase | 15,000 | $14.89 | $223K | no | Form 4 |
| 2026-03-31 | LEDERMAN SETH Chief Executive Officer, Director | Purchase | 5,000 | $12.62 | $63K | no | Form 4 |
| 2026-05-11: red flag filed | |||||||
| 2026-06-08 | Stillwell Richard Newcomb Director | Purchase | 5,000 | $11.65 | $58K | no | Form 4 |
| 2026-06-09 | LEDERMAN SETH Chief Executive Officer, Director | Purchase | 5,000 | $11.79 | $59K | no | Form 4 |
Open-market purchases and sales (Form 4 codes P and S) by officers, directors and 10% owners, by transaction date, from 2026-02-10 to 2026-06-10. Excludes option exercises, grants, gifts and tax withholding. Amended filings replace the originals; joint filings count once. Foreign private issuers do not file Form 4. Many insider sales are pre-scheduled (10b5-1 plans) and are not by themselves a sign of wrongdoing.
"The Company believes that its cash resources at March 31, 2026 and the net proceeds of $ 22.6 million, that it raised from equity offerings in the second quarter of 2026 (See Note 12), will meet its planned operating and capital expenditure requirements into early second quarter of 2027, but will not extend to 12 months from the issuance of these financial statements. 9 TONIX PHARMACEUTICALS HOLDING CORP. NOTES TO..."
Quoted from the filing. Source
The filing states that substantial doubt exists about the company's ability to continue as a going concern: it may not have enough cash to last the next 12 months. Expect dilution, debt deals or worse. An auditor's going-concern paragraph is the strongest form of this warning.
Source: management disclosure in Form 10-Q (period 2026-03-31)
Why this score: quarterly (unaudited) disclosure; also within 90 days: Auditor change
Read the original filing on SEC.gov →
Not investment advice. Automated summary; verify against the filing.
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