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Stock Market & Financial Investment News

News Breaks
July 11, 2014
08:36 EDTTNXPTonix Pharmaceuticals raises $7.8M in a registered direct offering
Tonix announced it has agreed to sell 657,000 shares of common stock in a registered direct offering at a price of $11.90 per share for aggregate gross proceeds of approximately $7.8M. Tonix expects to use the net proceeds of the offering to support the continued development of TNX-102 SL for the treatment of fibromyalgia, to initiate clinical trials of TNX-102 SL for the treatment of post-traumatic stress disorder, to initiate clinical trials of TNX-201 for episodic tension-type headache, and further develop our other pipeline programs, and for working capital and other general corporate purposes, and possibly acquisitions of other companies, products or technologies, though no such acquisitions are currently contemplated. Roth Capital Partners acted as the exclusive placement agent for the offering.
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