2022 Q3 Form 10-Q Financial Statement
#000138713122008503 Filed on August 08, 2022
Income Statement
Concept | 2022 Q3 | 2022 Q2 | 2022 Q1 |
---|---|---|---|
Revenue | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Cost Of Revenue | |||
YoY Change | |||
Gross Profit | $0.00 | ||
YoY Change | |||
Gross Profit Margin | |||
Selling, General & Admin | $7.390M | $6.757M | $8.014M |
YoY Change | 35.52% | 24.46% | 48.13% |
% of Gross Profit | |||
Research & Development | $22.20M | $16.58M | $18.42M |
YoY Change | 69.71% | -8.57% | 20.17% |
% of Gross Profit | |||
Depreciation & Amortization | $252.0K | $102.0K | $63.00K |
YoY Change | 2420.0% | 3300.0% | 530.0% |
% of Gross Profit | |||
Operating Expenses | $22.20M | $16.58M | $26.44M |
YoY Change | 19.78% | -8.57% | 27.46% |
Operating Profit | -$29.59M | -$23.34M | -$26.44M |
YoY Change | 59.65% | -0.96% | |
Interest Expense | $610.0K | $196.0K | $19.00K |
YoY Change | 8614.29% | 2077.78% | -76.25% |
% of Operating Profit | |||
Other Income/Expense, Net | |||
YoY Change | |||
Pretax Income | -$28.98M | -$23.14M | -$26.42M |
YoY Change | 56.42% | -1.75% | 27.93% |
Income Tax | |||
% Of Pretax Income | |||
Net Earnings | -$28.98M | -$23.14M | -$26.42M |
YoY Change | 56.42% | -1.75% | 27.91% |
Net Earnings / Revenue | |||
Basic Earnings Per Share | -$0.69 | -$1.22 | -$1.61 |
Diluted Earnings Per Share | -$0.69 | -$1.22 | -$1.619M |
COMMON SHARES | |||
Basic Shares Outstanding | 43.06M shares | 22.40M shares | 16.45M shares |
Diluted Shares Outstanding | 41.94M shares | 22.40M shares | 16.45M shares |
Balance Sheet
Concept | 2022 Q3 | 2022 Q2 | 2022 Q1 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $140.0M | $145.5M | $140.4M |
YoY Change | -23.5% | -12.21% | -14.47% |
Cash & Equivalents | $140.0M | $145.5M | $140.4M |
Short-Term Investments | |||
Other Short-Term Assets | $11.16M | $46.27M | $12.55M |
YoY Change | -7.85% | 300.6% | 39.49% |
Inventory | |||
Prepaid Expenses | |||
Receivables | |||
Other Receivables | |||
Total Short-Term Assets | $151.1M | $191.7M | $153.0M |
YoY Change | -22.53% | 8.17% | -11.67% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $90.31M | $83.10M | $70.35M |
YoY Change | 367.89% | 621.97% | 603.48% |
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | $360.0K | $379.0K | $379.0K |
YoY Change | 32.84% | 42.48% | 89.5% |
Total Long-Term Assets | $91.51M | $84.42M | $70.73M |
YoY Change | 364.69% | 609.63% | 586.67% |
TOTAL ASSETS | |||
Total Short-Term Assets | $151.1M | $191.7M | $153.0M |
Total Long-Term Assets | $91.51M | $84.42M | $70.73M |
Total Assets | $242.6M | $276.2M | $223.7M |
YoY Change | 12.98% | 45.99% | 21.92% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $4.556M | $9.568M | $9.397M |
YoY Change | -42.79% | 180.92% | 224.03% |
Accrued Expenses | $8.784M | $6.341M | $5.957M |
YoY Change | 116.25% | 35.64% | 86.16% |
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $13.34M | $15.91M | $15.35M |
YoY Change | 10.93% | 96.87% | 155.9% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Other Long-Term Liabilities | $382.0K | $474.0K | $405.0K |
YoY Change | -27.92% | -19.8% | -32.5% |
Total Long-Term Liabilities | $382.0K | $474.0K | $405.0K |
YoY Change | -27.92% | -19.8% | -32.5% |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $13.34M | $15.91M | $15.35M |
Total Long-Term Liabilities | $382.0K | $474.0K | $405.0K |
Total Liabilities | $13.72M | $16.38M | $15.76M |
YoY Change | 9.29% | 88.92% | 138.77% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$438.4M | -$409.4M | -$386.2M |
YoY Change | 32.73% | ||
Common Stock | $667.4M | $637.8M | |
YoY Change | |||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $228.9M | $228.3M | $208.0M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $242.6M | $276.2M | $223.7M |
YoY Change | 12.98% | 45.99% | 21.92% |
Cashflow Statement
Concept | 2022 Q3 | 2022 Q2 | 2022 Q1 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$28.98M | -$23.14M | -$26.42M |
YoY Change | 56.42% | -1.75% | 27.91% |
Depreciation, Depletion And Amortization | $252.0K | $102.0K | $63.00K |
YoY Change | 2420.0% | 3300.0% | 530.0% |
Cash From Operating Activities | -$23.53M | -$21.17M | -$31.05M |
YoY Change | 81.79% | 10.81% | 47.42% |
INVESTING ACTIVITIES | |||
Capital Expenditures | -$8.820M | -$14.44M | -$20.22M |
YoY Change | 13.79% | 913.97% | 3864.12% |
Acquisitions | |||
YoY Change | |||
Other Investing Activities | |||
YoY Change | |||
Cash From Investing Activities | -$8.820M | -$14.44M | -$20.22M |
YoY Change | 13.79% | 913.97% | 3864.12% |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | -4.625M | 72.18M | 13.06M |
YoY Change | -112.18% | 227.35% | -87.98% |
NET CHANGE | |||
Cash From Operating Activities | -23.53M | -21.17M | -31.05M |
Cash From Investing Activities | -8.820M | -14.44M | -20.22M |
Cash From Financing Activities | -4.625M | 72.18M | 13.06M |
Net Change In Cash | -36.98M | 36.57M | -38.20M |
YoY Change | -314.2% | 2307.31% | -143.84% |
FREE CASH FLOW | |||
Cash From Operating Activities | -$23.53M | -$21.17M | -$31.05M |
Capital Expenditures | -$8.820M | -$14.44M | -$20.22M |
Free Cash Flow | -$14.71M | -$6.732M | -$10.83M |
YoY Change | 183.25% | -61.93% | -47.3% |
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us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
9843309 | shares | |
CY2022Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-23140000 | usd |
CY2021Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-23553000 | usd |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-49557000 | usd | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-44206000 | usd | |
CY2022Q2 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
-25000 | usd |
CY2021Q2 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
-8000 | usd |
us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
-51000 | usd | |
us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
-9000 | usd | |
CY2022Q2 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-23165000 | usd |
CY2021Q2 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-23561000 | usd |
us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-49608000 | usd | |
us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-44215000 | usd | |
CY2021Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
218717000 | usd |
CY2022Q1 | tnxp |
Stock Issued During Period Value New Issues10
StockIssuedDuringPeriodValueNewIssues10
|
8488000 | usd |
CY2022Q1 | tnxp |
Issuance Of Commitment Shares Under Purchase Agreement
IssuanceOfCommitmentSharesUnderPurchaseAgreement
|
4535000 | usd |
CY2022Q1 | us-gaap |
Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
|
40000 | usd |
CY2022Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-26417000 | usd |
CY2022Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
207957000 | usd |
CY2022Q1 | us-gaap |
Adjustments To Additional Paid In Capital Share Based Compensation Restricted Stock Units Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition
|
2620000 | usd |
CY2022Q1 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
-26000 | usd |
CY2021Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
176916000 | usd |
CY2021Q2 | tnxp |
Stock Issued During Period Value New Issues2
StockIssuedDuringPeriodValueNewIssues2
|
18702000 | usd |
CY2021Q2 | tnxp |
Issuance Of Commitment Shares Under Purchase Agreement
IssuanceOfCommitmentSharesUnderPurchaseAgreement
|
3347000 | usd |
CY2021Q2 | tnxp |
Stock Issued During Period Value New Issues21
StockIssuedDuringPeriodValueNewIssues21
|
3000000 | usd |
CY2022Q2 | tnxp |
Stock Issued During Period Value New Issues11
StockIssuedDuringPeriodValueNewIssues11
|
42968000 | usd |
CY2022Q2 | tnxp |
Issuance Of Commitment Shares Under Purchase Agreement
IssuanceOfCommitmentSharesUnderPurchaseAgreement
|
1964000 | usd |
CY2022Q2 | us-gaap |
Adjustments To Additional Paid In Capital Increase In Carrying Amount Of Redeemable Preferred Stock
AdjustmentsToAdditionalPaidInCapitalIncreaseInCarryingAmountOfRedeemablePreferredStock
|
4255000 | usd |
CY2022Q2 | us-gaap |
Adjustments To Additional Paid In Capital Share Based Compensation Restricted Stock Units Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition
|
2813000 | usd |
CY2022Q2 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
-25000 | usd |
CY2022Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-23140000 | usd |
CY2022Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
228282000 | usd |
CY2020Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
87648000 | usd |
CY2021Q1 | tnxp |
Stock Issued During Period Value New Issues1
StockIssuedDuringPeriodValueNewIssues1
|
2000 | usd |
CY2021Q1 | tnxp |
Stock Issued During Period Value New Issues14
StockIssuedDuringPeriodValueNewIssues14
|
36904000 | usd |
CY2021Q1 | tnxp |
Stock Issued During Period Value New Issues15
StockIssuedDuringPeriodValueNewIssues15
|
64997000 | usd |
CY2021Q1 | tnxp |
Stock Issued During Period Value New Issues19
StockIssuedDuringPeriodValueNewIssues19
|
6779000 | usd |
CY2021Q1 | us-gaap |
Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
|
28000 | usd |
CY2021Q1 | us-gaap |
Adjustments To Additional Paid In Capital Share Based Compensation Restricted Stock Units Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition
|
1212000 | usd |
CY2021Q1 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
-1000 | usd |
CY2021Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-20653000 | usd |
CY2021Q2 | us-gaap |
Adjustments To Additional Paid In Capital Share Based Compensation Restricted Stock Units Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition
|
2089000 | usd |
CY2021Q2 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
-8000 | usd |
CY2021Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-23553000 | usd |
CY2021Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
180493000 | usd |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-49557000 | usd | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-44206000 | usd | |
us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
165000 | usd | |
us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
13000 | usd | |
tnxp |
Common Stock Issued To Acquire Research And Development
CommonStockIssuedToAcquireResearchAndDevelopment
|
3000000 | usd | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
5433000 | usd | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
3301000 | usd | |
us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
4381000 | usd | |
us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
651000 | usd | |
us-gaap |
Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
|
-1564000 | usd | |
us-gaap |
Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
|
-1191000 | usd | |
us-gaap |
Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
|
2000 | usd | |
us-gaap |
Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
|
-17000 | usd | |
us-gaap |
Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
|
-2315000 | usd | |
us-gaap |
Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
|
-415000 | usd | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-52217000 | usd | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-40166000 | usd | |
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
34656000 | usd | |
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
1934000 | usd | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-34656000 | usd | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-1934000 | usd | |
us-gaap |
Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
|
2000 | usd | |
us-gaap |
Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
|
40000 | usd | |
us-gaap |
Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
|
28000 | usd | |
us-gaap |
Proceeds From Issuance Of Convertible Preferred Stock
ProceedsFromIssuanceOfConvertiblePreferredStock
|
27245000 | usd | |
us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
57955000 | usd | |
us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
130729000 | usd | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
85240000 | usd | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
130759000 | usd | |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-1682000 | usd | |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
88651000 | usd | |
CY2021Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
178900000 | usd |
CY2020Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
77308000 | usd |
us-gaap |
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
-49000 | usd | |
us-gaap |
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
-8000 | usd | |
CY2022Q2 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
177218000 | usd |
CY2021Q2 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
165959000 | usd |
us-gaap |
Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
|
1950000 | usd | |
us-gaap |
Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
|
4255000 | usd | |
us-gaap |
Nature Of Operations
NatureOfOperations
|
<p id="xdx_807_eus-gaap--NatureOfOperations_zt1laFe3P0dl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 1 – <span id="xdx_824_zXFLm1HKsmb2">BUSINESS</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Tonix Pharmaceuticals Holding Corp., through its wholly owned subsidiary Tonix Pharmaceuticals, Inc. (“Tonix Sub”), is a clinical-stage biopharmaceutical company focused on discovering, licensing, acquiring and developing therapeutics to treat and prevent human disease and alleviate suffering. The therapeutics include small molecules and biologics and all drug product candidates are still in development and none are approved or marketed.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The condensed consolidated financial statements include the accounts of Tonix Pharmaceuticals Holding Corp. and its wholly owned subsidiaries, Tonix Sub, Krele LLC, Tonix Pharmaceuticals (Canada), Inc., Tonix Medicines, Inc., Jenner LLC, Tonix R&D Center LLC, Tonix Pharma Holdings Limited and Tonix Pharma Limited (collectively hereafter referred to as the “Company” or “Tonix”). All intercompany balances and transactions have been eliminated in consolidation.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">Going Concern</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The accompanying financial statements have been prepared on a basis which assumes that the Company will continue as a going concern and which contemplates the realization of assets and satisfaction of liabilities and commitments in the normal course of business. The Company has suffered recurring losses from operations and negative cash flows from operating activities. At June 30, 2022, the Company had working capital of approximately $<span id="xdx_909_ecustom--WorkingCapital_iI_pn3d_dm_c20220630_z4saVO3KWC32" title="Working capital">144.3 million</span>, which excludes restricted cash of $<span id="xdx_90E_eus-gaap--RestrictedCashCurrent_iI_pn3d_dm_c20220630_zpebXo1HelD">31.5 million</span>. At June 30, 2022, the Company had an accumulated deficit of approximately $<span id="xdx_904_eus-gaap--RetainedEarningsAccumulatedDeficit_iI_pn3n3_dxL_c20220630_zUvYYdidKUv1" title="Accumulated deficit::XDX::-409377"><span style="-sec-ix-hidden: xdx2ixbrl0607">409.4 million</span></span>. The Company held cash and cash equivalents of approximately $<span id="xdx_908_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iI_pn3n3_dxL_c20220630_zc6jHSzh0654" title="Cash and cash equivalents::XDX::145478"><span style="-sec-ix-hidden: xdx2ixbrl0609">145.5 million</span></span> as of June 30, 2022.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company believes that its cash resources at June 30, 2022, and the gross proceeds of approximately $<span id="xdx_905_eus-gaap--ProceedsFromIssuanceOrSaleOfEquity_pn3d_dm_c20220701__20220808__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_z1i0KoBwnq9l" title="Proceeds from equity offerings">18.9 million</span>, that it raised from equity offerings subsequent to the end of the second quarter of 2022 (See Note 19), will meet its operating and capital expenditure requirements into the second quarter of 2023, but not beyond.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">These factors raise substantial doubt about the Company’s ability to continue as a going concern. The Company continues to face significant challenges and uncertainties and, as a result, its available capital resources may be consumed more rapidly than currently expected due to changes it may make in its research and development spending plans. The Company has the ability to obtain additional funding through public and private financing and collaborative arrangements with strategic partners to increase the funds available to fund operations. However, the Company may not be able to raise capital on terms acceptable to the Company. Without additional funds, it may be forced to delay, scale back or eliminate some of its research and development activities, or other operations and potentially delay product development in an effort to provide sufficient funds to continue operations. If any of these events occurs, our ability to achieve our development and commercialization goals would be adversely affected. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.</span></p> | ||
CY2022Q2 | tnxp |
Working Capital
WorkingCapital
|
144300000 | usd |
CY2022Q2 | us-gaap |
Restricted Cash Current
RestrictedCashCurrent
|
31500000 | usd |
us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<p id="xdx_849_eus-gaap--ConcentrationRiskCreditRisk_zslcXrmAjSZ5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">Risks and uncertainties</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s primary efforts are devoted to conducting research and development of innovative pharmaceutical and biological products to address public health challenges. The Company has experienced net losses and negative cash flows from operations since inception and expects these conditions to continue for the foreseeable future. Further, the Company does not have any commercial products available for sale and has not generated revenues, and there is no assurance that if its products are approved for sale, that the Company will be able to generate cash flow to fund operations. In addition, there can be no assurance that the Company’s research and development will be successfully completed or that any product will be approved or commercially viable. Moreover, the extent to which COVID-19 impacts the Company’s operations will depend on future developments, which are highly uncertain and cannot be predicted with confidence at this time.</span></p> | ||
us-gaap |
Use Of Estimates
UseOfEstimates
|
<p id="xdx_84C_eus-gaap--UseOfEstimates_zfvuOCKJV0N9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">Use of estimates</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of financial statements in accordance with Generally Accepted Accounting Principles (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements, and the reported amounts of expenses during the reporting period. Actual results could differ from those estimates. Significant estimates include the assumptions used in the fair value of stock-based compensation and other equity instruments, and the percent of completion of research and development contracts.</span></p> | ||
CY2022Q2 | us-gaap |
Money Market Funds At Carrying Value
MoneyMarketFundsAtCarryingValue
|
120600000 | usd |
CY2021Q4 | us-gaap |
Money Market Funds At Carrying Value
MoneyMarketFundsAtCarryingValue
|
120400000 | usd |
CY2022Q2 | us-gaap |
Restricted Cash Current
RestrictedCashCurrent
|
31500000 | usd |
CY2022Q2 | us-gaap |
Restricted Cash Noncurrent
RestrictedCashNoncurrent
|
240000 | usd |
CY2021Q4 | us-gaap |
Restricted Cash Noncurrent
RestrictedCashNoncurrent
|
240000 | usd |
CY2022Q2 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
145478000 | usd |
CY2021Q2 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
165719000 | usd |
CY2022Q2 | us-gaap |
Restricted Cash Current
RestrictedCashCurrent
|
31500000 | usd |
CY2022Q2 | us-gaap |
Restricted Cash Noncurrent
RestrictedCashNoncurrent
|
240000 | usd |
CY2021Q2 | us-gaap |
Restricted Cash Noncurrent
RestrictedCashNoncurrent
|
240000 | usd |
CY2022Q2 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
177218000 | usd |
CY2021Q2 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
165959000 | usd |
CY2022Q2 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
102000 | usd |
us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
165000 | usd | |
CY2021Q2 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
7000 | usd |
us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
13000 | usd | |
us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
9994519 | shares | |
us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
800665 | shares | |
CY2022Q2 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
83664000 | usd |
CY2021Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
50958000 | usd |
CY2022Q2 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
565000 | usd |
CY2021Q4 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
400000 | usd |
CY2022Q2 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
83099000 | usd |
CY2021Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
50558000 | usd |
CY2022Q2 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
800000000 | shares |
CY2022Q2 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
50000000 | shares |
CY2022Q2 | tnxp |
Minimum Bid Requirement Per Share
MinimumBidRequirementPerShare
|
1.00 | |
CY2021Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
805762 | shares |
CY2021Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
78.02 | |
us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
|
P8Y9M29D | ||
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
1695608 | shares | |
us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
|
12.06 | ||
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
|
26821 | shares | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
|
381.16 | ||
CY2022Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
2474549 | shares |
CY2022Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
29.54 | |
tnxp |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term3
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm3
|
P9Y2M23D | ||
CY2022Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
|
469600 | shares |
CY2022Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
|
83.90 | |
us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
|
P8Y14D | ||
CY2022Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
|
3.78 | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
|
5.25 | ||
CY2021Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
|
30.62 | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
|
34.45 | ||
CY2022Q2 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
985000 | usd |
CY2022Q2 | us-gaap |
Operating Lease Expense
OperatingLeaseExpense
|
100000 | usd |
CY2021Q2 | us-gaap |
Operating Lease Expense
OperatingLeaseExpense
|
100000 | usd |
us-gaap |
Operating Lease Expense
OperatingLeaseExpense
|
300000 | usd | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
|
0.0167 | pure | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
|
0.0305 | pure | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
|
0.0080 | pure | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
|
0.0163 | pure | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
|
1.2032 | pure | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
|
1.3322 | pure | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
|
1.2440 | pure | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
|
1.3774 | pure | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
|
0.000 | pure | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
|
0.000 | pure | |
CY2022Q2 | us-gaap |
Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
|
19970 | shares |
CY2022Q2 | us-gaap |
Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
|
275000 | usd |
CY2022Q2 | us-gaap |
Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
|
409000 | usd |
CY2022Q2 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
|
154000 | usd |
CY2022Q2 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
|
159000 | usd |
CY2022Q2 | tnxp |
Lessee Operating Lease Liability Payments Due After Year Three
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearThree
|
11000 | usd |
CY2022Q2 | us-gaap |
Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
|
1008000 | usd |
CY2022Q2 | us-gaap |
Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
|
23000 | usd |
us-gaap |
Operating Lease Expense
OperatingLeaseExpense
|
300000 | usd | |
us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
309000 | usd | |
us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
314000 | usd | |
CY2022Q2 | us-gaap |
Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
|
P2Y5M26D | |
CY2021Q2 | us-gaap |
Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
|
P3Y1M17D | |
CY2022Q2 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
|
0.0231 | pure |
CY2021Q2 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
|
0.0136 | pure |
CY2022Q2 | us-gaap |
Other Commitment
OtherCommitment
|
62500000 | usd |