Tonix Pharmaceuticals Holding Corp. (NASDAQ: TNXP) is a biopharmaceutical company focused on developing therapies for central nervous system disorders and immunology. On February 5, 2025, TNXP will undergo a reverse stock split at a ratio of 100 for 1. This means that every 100 shares of TNXP will be consolidated into one share.
The reverse stock split aims to increase TNXP's per share trading price. This is crucial for meeting the NASDAQ Capital Market's $1.00 minimum bid price requirement, as highlighted by the company's announcement. The stock will continue trading under the symbol "TNXP" but will have a new CUSIP number, 890260839.
Currently, TNXP is priced at $0.1521, having decreased by 21.96%, or $0.0428. The stock has fluctuated between $0.15 and $0.1769 today. Over the past year, TNXP's price has ranged from a high of $12.48 to a low of $0.118, indicating significant volatility.
TNXP's market capitalization is approximately $28.43 million, with a trading volume of 136.46 million shares. The reverse stock split is expected to impact these figures by reducing the number of shares outstanding, potentially stabilizing the stock's price movements.
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