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Release – Tonix Pharmaceuticals Presented Poster of Tonmya™ for the Management of Fibromyalgia at the Annual European Congress of Rheumatology (EULAR) 2024

Posted on June 17, 2024June 17, 2024 by aweinsoff@channelchek.com

June 17, 2024 8:00am EDT

Treatment with Tonmya™ (TNX-102 SL, sublingual cyclobenzaprine HCl) in Phase 3 RESILIENT study significantly reduced daily pain and demonstrated broad fibromyalgia symptom improvement, as demonstrated by significant improvement on the primary pain endpoint and on all six key secondary endpoints

RESILIENT was the second Phase 3 study to reach statistical significance on the primary endpoint

New Drug Application (NDA) submission to the FDA on track for the second half of 2024

CHATHAM, N.J., June 17, 2024 (GLOBE NEWSWIRE) — Tonix Pharmaceuticals Holding Corp. (Nasdaq: TNXP) (Tonix or the Company), a fully-integrated biopharmaceutical company with marketed products and a pipeline of development candidates, presented data from a poster presentation at the Annual European Congress of Rheumatology (EULAR) 2024, held June 12-15, 2024 at the Messe Wien Congress Center in Vienna, Austria. A copy of the Company’s poster presentation is available under the Scientific Presentations tab of the Tonix website at www.tonixpharma.com.

In the poster presentation titled, “Targeting Non-Restorative Sleep in Fibromyalgia with Bedtime TNX-102 SL (Sublingual Cyclobenzaprine HCl) Significantly Improves Pain in RESILIENT, a Confirmatory Phase 3 Randomized Clinical Trial”, Tonyma met the pre-specified primary endpoint in the Phase 3 RESILIENT trial, significantly reducing daily pain compared to placebo (p-value=0.00005) in participants with fibromyalgia while also demonstrating broad syndromal improvement. Tonmya demonstrated statistically significant improvement in all six pre-specified key secondary endpoints including those related to improving sleep quality, reducing fatigue, and improving patient global ratings and overall fibromyalgia symptoms and function. Tonmya was well tolerated with an adverse event (AE) profile comparable to prior studies and no new safety signals observed.

In pre-specified exploratory analyses, Tonmya treatment also improved depressive symptoms measured by the Beck Depression Inventory and improved female sexual function by the Changes in Sexual Function Questionnaire in the RESILIENT trial.

“People suffering with fibromyalgia tend to struggle with daily activities, have impaired quality of life and are frequently disabled^”, said Seth Lederman, M.D., Chief Executive Officer of Tonix Pharmaceuticals. “We believe the activity of Tonmya on pain, sleep quality, fatigue cognitive dysfunction, and depression are indicative of the broad-spectrum activity of Tonmya, suggesting Tonmya treats fibromyalgia at a syndromal level. We are excited by the prospect of offering this patient population its potential first new therapy option in more than a decade.”

Tonix remains on track to submit an NDA to the U.S. Food and Drug Administration (FDA) in the second half of 2024 for Tonmya for the management of fibromyalgia.

Tonix Pharmaceuticals Holding Corp.^*

Tonix is a fully-integrated biopharmaceutical company focused on developing, licensing and commercializing therapeutics to treat and prevent human disease and alleviate suffering. Tonix’s development portfolio is focused on central nervous system (CNS) disorders. Tonix’s priority is to submit a New Drug Application (NDA) to the FDA in the second half of 2024 for Tonmya¹, a product candidate for which two statistically significant Phase 3 studies have been completed for the management of fibromyalgia. TNX-102 SL is also being developed to treat acute stress reaction as well as fibromyalgia-type Long COVID. Tonix’s CNS portfolio includes TNX-1300 (cocaine esterase), a biologic designed to treat cocaine intoxication that has FDA Breakthrough Therapy designation and is in Phase 2 development supported by a grant from the National institute of Drug Abuse. Tonix’s immunology development portfolio consists of biologics to address organ transplant rejection, autoimmunity and cancer, including TNX-1500, which is a humanized monoclonal antibody targeting CD40-ligand (CD40L or CD154) being developed for the prevention of allograft rejection and for the treatment of autoimmune diseases. Tonix also has product candidates in development in the areas of rare disease and infectious disease. Tonix Medicines, our commercial subsidiary, markets Zembrace® SymTouch® (sumatriptan injection) 3 mg and Tosymra® (sumatriptan nasal spray) 10 mg for the treatment of acute migraine with or without aura in adults.

*Tonix’s product development candidates are investigational new drugs or biologics and have not been approved for any indication.

¹Tonmya™ is conditionally accepted by the U.S. Food and Drug Administration (FDA) as the tradename for TNX-102 SL for the management of fibromyalgia. Tonmya has not been approved for any indication.

Zembrace SymTouch and Tosymra are registered trademarks of Tonix Medicines. All other marks are property of their respective owners.

This press release and further information about Tonix can be found at www.tonixpharma.com.

Forward Looking Statements

Certain statements in this press release are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward-looking words such as “anticipate,” “believe,” “forecast,” “estimate,” “expect,” and “intend,” among others. These forward-looking statements are based on Tonix’s current expectations and actual results could differ materially. There are a number of factors that could cause actual events to differ materially from those indicated by such forward-looking statements. These factors include, but are not limited to, risks related to the failure to obtain FDA clearances or approvals and noncompliance with FDA regulations; risks related to the failure to successfully market any of our products; risks related to the timing and progress of clinical development of our product candidates; our need for additional financing; uncertainties of patent protection and litigation; uncertainties of government or third party payor reimbursement; limited research and development efforts and dependence upon third parties; and substantial competition. As with any pharmaceutical under development, there are significant risks in the development, regulatory approval and commercialization of new products. Tonix does not undertake an obligation to update or revise any forward-looking statement. Investors should read the risk factors set forth in the Annual Report on Form 10-K for the year ended December 31, 2023, as filed with the Securities and Exchange Commission (the “SEC”) on April 1, 2024, and periodic reports filed with the SEC on or after the date thereof. All of Tonix’s forward-looking statements are expressly qualified by all such risk factors and other cautionary statements. The information set forth herein speaks only as of the date thereof.

Investor Contact

Jessica Morris
Tonix Pharmaceuticals
investor.relations@tonixpharma.com
(862) 904-8182

Peter Vozzo
ICR Westwicke
peter.vozzo@westwicke.com
(443) 213-0505

Media Contact

Katie Dodge
LaVoieHealthScience
kdodge@lavoiehealthscience.com
(978) 360-3151

Source: Tonix Pharmaceuticals Holding Corp.

Released June 17, 2024

Aurania Resources (AUIAF) – Take-Aways from the Annual General Meeting

Posted on June 17, 2024June 17, 2024 by cpereira@noblefcm.com

Monday, June 17, 2024

Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Annual shareholder meeting. Shareholders approved all resolutions at the company’s annual meeting on June 13. These included approving the financial statements for the year-ended December 31, 2023, the report of the auditors, the appointment of auditors, election of directors, and the company’s incentive stock option plan for the upcoming year.

Corporate update. Dr. Keith Barron, CEO and Director, provided a corporate update highlighting key priorities in 2024 and 2025. These include: 1) exploration at the Lost Cities project in Ecuador, 2) advancing the company’s application for an exploration license in the Brittany Peninsula of northwestern France, 3) advancing joint venture and strategic partnership discussions, and 4) expanding community access agreements and community projects in Ecuador. At least one major mining company has been active in Aurania’s data room and in discussions with the company.

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This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.

Nasdaq and S&P 500 Slip from Record Highs

Posted on June 17, 2024June 17, 2024 by slightbourne@noblecapitalmarkets.com

June 14, 2024, marked a notable shift in the U.S. stock market as major indexes pulled back from record highs. Investors engaged in profit-taking while considering the implications of a hawkish Federal Reserve and signs of a slowing economy. This article delves into the key factors influencing the market’s performance and the broader economic context.

After a week of record-setting highs, U.S. stock indexes experienced their first session of decline. The Nasdaq Composite (.IXIC) and the S&P 500 (.SPX) fell from their peaks, while the Dow Jones Industrial Average (.DJI) also retreated. By midday, the Dow was down 126.96 points (0.33%) to 38,520.14, the S&P 500 dropped 16.29 points (0.30%) to 5,417.45, and the Nasdaq decreased 30.57 points (0.17%) to 17,636.99.

Adding to market uncertainty, the Federal Reserve’s recent projections suggested a more conservative approach to rate cuts than previously anticipated. The Fed’s updated forecast scaled back expectations from three rate cuts this year to just one. This cautious stance contrasted with market expectations, which, according to the CME’s FedWatch tool, saw a more than 70% chance of a rate cut in September and two cuts by year-end.

Cleveland Fed President Loretta Mester commented on the positive trend of lowering inflation, but this did little to alleviate concerns about the Fed’s restrained policy easing.

Economic data further complicated the market’s outlook. The University of Michigan’s preliminary Consumer Sentiment Index fell to 65.6 in June, significantly below expectations. This decline highlighted ongoing concerns about inflation and economic stability, contributing to the overall negative sentiment in the market.

The downturn was broad-based, with nine of the 11 S&P 500 sectors experiencing declines. Industrials led the losses with a 1.6% drop, while the economically sensitive small-cap Russell 2000 index lost 1.8%. Despite the general downturn, a few stocks stood out:

Adobe (ADBE.O): Adobe shares surged 14.5%, marking the company’s largest one-day gain in four years. The jump came after Adobe raised its annual revenue forecast, driven by robust demand for its AI-powered software, which helped mitigate losses on the Nasdaq.
Broadcom (AVGO.O): Broadcom continued its positive streak with a 1.7% rise following an upbeat forecast and the announcement of a 10-for-one stock split.
Arm Holdings (ARM.O): Shares of Arm Holdings rose 2.2% after news that the company would join the Nasdaq 100 index, replacing Sirius XM (SIRI.O), which slipped 0.8%.

The market’s optimism earlier in the week was driven by hopes of easing Fed policy and the strength of megacap stocks. Both the S&P 500 and the Nasdaq were on track for their seventh week of gains out of eight. However, the possibility of a second-half recession, which could force the Fed to cut rates more significantly, remains a concern.

Ross Mayfield, investment strategy analyst at Baird, noted that the market is pricing in a small but significant probability of a recession in the second half of the year.

A Bank of America Global Research report indicated that U.S. value stock funds saw $2.6 billion in outflows, while U.S. growth stock funds attracted $1.8 billion in inflows for the week ending Wednesday. This shift underscores investor preference for growth stocks amid economic uncertainties.

On the NYSE, declining issues outnumbered advancers by a 3.34-to-1 ratio, while on the Nasdaq, the ratio was 2.77-to-1. The S&P index recorded eight new 52-week highs and 16 new lows, while the Nasdaq saw 19 new highs and 149 new lows.

The retreat in U.S. stock indexes reflects a complex interplay of profit-taking, hawkish Fed projections, and cooling economic data. While there is optimism about potential future rate cuts, ongoing concerns about inflation and consumer sentiment continue to weigh on investor confidence. As the year progresses, market participants will closely monitor the Federal Reserve’s actions and economic indicators to gauge the trajectory of the economy and financial markets.

Healthcare AI Trailblazer Tempus Goes Public in $410 Million Offering

Posted on June 14, 2024June 14, 2024 by slightbourne@noblecapitalmarkets.com

The artificial intelligence revolution is rapidly expanding into new industries and sectors. While AI has already transformed fields like consumer technology and autonomous vehicles, one area holding immense potential for disruption is healthcare. A new public company, Tempus AI, is looking to capitalize on this opportunity at the intersection of artificial intelligence and precision medicine.

Tempus, based in Chicago, priced its initial public offering on Thursday, raising $410.7 million by selling 11.1 million shares at $37 each. With this successful IPO, the AI healthcare company now carries a fully diluted market valuation around $8 billion as a newly minted public enterprise. Tempus also granted underwriters a 30-day option to purchase an additional 1.665 million shares.

The sizeable offering highlights immense investor demand for companies leveraging artificial intelligence to solve major challenges across different domains. AI and machine learning firms have seen warm receptions on the public markets over the last couple of years as the powerful capabilities of these technologies have become more apparent and applicable.

However, Tempus represents one of the first opportunities for public investors to gain exposure to the rapidly evolving field of AI-driven precision medicine and healthcare applications. The company aims to use artificial intelligence models to provide decision support tools that enable doctors to offer more personalized care tailored specifically to each patient’s condition and circumstances.

Underpinning Tempus’ AI healthcare platform is its multimodal database containing a massive repository of data aggregated from healthcare providers across the country. This includes molecular data, medical images, electronic records, and treatment information across millions of patient lives for major disease areas like cancer, diabetes, neurological disorders and more.

Tempus deploys proprietary artificial intelligence models that ingest and learn patterns from this immense, constantly updating dataset. These AI models can then provide personalized analysis and therapeutic recommendations to physicians treating patients. On the life sciences side, pharmaceutical companies pay to access Tempus’ data and AI capabilities to aid in drug discovery and development of new therapies.

The core premise is that Tempus’ operating system for precision medicine becomes smarter and more powerful with every new data point added. This sets up a virtuous learning cycle where the AI models help enable better patient outcomes, leading to more data to further enhance the predictive prowess of the AI over time.

While still a relatively small company generating around $100 million in revenue for 2023, Tempus has grand ambitions to help usher in an era of AI-augmented healthcare. The company envisions its technology empowering doctors to defeat deadly diseases through intelligent, data-driven treatment strategies precisely tailored to each individual patient’s unique molecular profile.

Tempus’ successful public offering provides a major cash influx to fund investments and growth initiatives as it aims to cement itself as a pioneer in the burgeoning field of AI healthcare applications. For investors seeking exposure to AI’s transformative potential across sectors, the newly public Tempus may offer an intriguing option to capitalize on precision medicine powered by artificial intelligence.

Only time will tell if Tempus can fully deliver on its bold vision. But the company’s lucrative public debut underscores big expectations that AI could play a pivotal role in ushering healthcare into a new technologically-advanced frontier of personalized patient care and therapeutic development in the years ahead.

Take a moment to take a look at more emerging growth healthcare investment ideas on display at the Noble Capital Markets Emerging Growth Virtual Healthcare Equity Conference.

Alliance Resource Partners (ARLP) – Revising Estimates Following Successful Note Offering

Posted on June 14, 2024June 14, 2024 by cpereira@noblefcm.com

Friday, June 14, 2024

ARLP is a diversified natural resource company that generates operating and royalty income from coal produced by its mining complexes and royalty income from mineral interests it owns in strategic oil & gas producing regions in the United States, primarily the Permian, Anadarko and Williston basins. ARLP currently produces coal from seven mining complexes its subsidiaries operate in Illinois, Indiana, Kentucky, Maryland and West Virginia. ARLP also operates a coal loading terminal on the Ohio River at Mount Vernon, Indiana. ARLP markets its coal production to major domestic and international utilities and industrial users and is currently the second largest coal producer in the eastern United States. In addition, ARLP is positioning itself as an energy provider for the future by leveraging its core technology and operating competencies to make strategic investments in the fast growing energy and infrastructure transition.

Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Senior notes offering. Alliance recently completed a $400 million private offering of 8.625% senior unsecured notes due in 2029. A portion of the net proceeds will fund the redemption of its outstanding 7.5% senior notes due in 2025. Alliance delivered a notice of redemption for all outstanding 2025 notes. The redemption price for the 2025 notes is 100% of the principal amount plus accrued and unpaid interest to the redemption date, which is expected to be June 28. As of March 31, senior notes outstanding were $284.6 million.

Second quarter coal shipments. The partnership’s April 2024 coal sales volumes declined 15% to ~2.4 million tons versus ~2.9 million tons during the prior year month. In Appalachia, coal sales volumes decreased 48.2% compared to April 2023 due to the loss of 10 shipping days as a result of high-water events that impacted loading at the Tunnel Ridge complex, along with deferred shipments due to the Francis Scott Key Bridge collapse. In the Illinois Basin, coal sales volume remained relatively consistent with April 2023. Lower volumes at River View due to slowing barge traffic were almost entirely offset by higher volumes at Gibson South due to spot export sales. Volumes deferred at River View and Tunnel Ridge amounted to 420,000 tons and 77,000 tons, respectively, and are expected to be shipped throughout the balance of 2024.

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This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

Homebuyers Face Ongoing Affordability Challenges Despite Slight Mortgage Rate Dip

Posted on June 14, 2024June 14, 2024 by slightbourne@noblecapitalmarkets.com

The mortgage market has seen a slight reprieve this week, with average rates on a 30-year fixed mortgage dipping just below 7%. According to Freddie Mac, the average rate has decreased to 6.95% from 6.99% the previous week. However, for many prospective homebuyers, this minor drop may not be enough to make a significant difference in affordability.

Freddie Mac’s report on Thursday highlights a small but noteworthy dip in mortgage rates. A separate measure tracking daily averages by Mortgage News Daily shows fluctuations between 6.97% and 7.17% over the past week. Despite this slight decline, the rates remain relatively high compared to historical lows, creating challenges for budget-conscious homebuyers.

The Federal Reserve’s policies continue to play a crucial role in shaping mortgage rates. Recently, the Fed decided to hold the benchmark rates steady at 5.25% to 5.50%, signaling only one rate cut for the rest of the year. This decision suggests that any substantial decline in mortgage rates is unlikely in the near future. The Fed’s cautious approach indicates that significant rate drops might not occur until well into 2025.

A recent study indicates that a majority of homebuyers, particularly first-time buyers, need significantly lower rates before they feel confident returning to the market. Ralph McLaughlin, Realtor.com’s senior economist, emphasizes that for inventory-constrained buyers, current mortgage trends will likely maintain the “mortgage rate lock-in effect.” This effect, where homeowners are reluctant to sell and buy new homes at higher rates, is expected to persist until at least the end of the year.

The latest inflation data has shown signs of moderation, with the core Consumer Price Index (CPI) excluding food and energy costs, climbing just 0.2% monthly in May—the lowest since last June. Overall inflation has decelerated year-over-year compared to April. While this news initially caused a dip in mortgage rates, the Fed’s subsequent announcement to hold rates steady tempered this effect. The Fed now projects one rate cut for the rest of the year, a reduction from previous expectations.

Fannie Mae’s homebuyer sentiment survey from May reveals that only one in four Americans expect mortgage rates to decrease over the next 12 months. In contrast, more than 30% of respondents anticipate that rates will rise. This sentiment has led to a new low in consumer confidence, driven by the overall lack of purchase affordability.

Despite current challenges, there is a glimmer of hope on the horizon for homebuyers. Economists at Bank of America Global Research predict multiple rate cuts over the next 24 months—four in 2025 and two in 2026. These cuts, in increments of 25 basis points, could bring rates down to between 3.50% and 3.75% by 2026. This long-term outlook provides a potential path to more affordable mortgage rates, but significant declines in the short term remain unlikely.

Last week saw a brief surge in mortgage application volume, increasing by 16% according to the Mortgage Bankers Association. This surge was primarily driven by a short-lived drop in daily rates, which hovered near 7%. New mortgage applications increased by 9%, though they remain 12% lower than the same week last year. Refinancing activity also saw a notable increase of 28% week-over-week, particularly among VA borrowers who took advantage of the lower rates.

At the current average rate of 6.95%, a homebuyer would pay approximately $1,600 monthly on a $300,000 home with a 20% down payment, according to the Yahoo Finance mortgage calculator. This cost highlights the ongoing challenge of affordability for many potential buyers.

While the slight dip in mortgage rates below 7% offers a small reprieve for homebuyers, significant declines are still months away. The Federal Reserve’s cautious approach, coupled with persistent inflation concerns, suggests that substantial rate reductions are unlikely until 2025. Homebuyers must navigate these challenges with careful planning and realistic expectations, while keeping an eye on long-term trends that may eventually bring relief.

Release – Tonix Pharmaceuticals Announces Closing of $4.0 Million Public Offering

Posted on June 13, 2024June 14, 2024 by aweinsoff@channelchek.com

Research News and Market Data on TNXP

June 13, 2024 5:00pm EDT

CHATHAM, N.J., June 13, 2024 (GLOBE NEWSWIRE) — Tonix Pharmaceuticals Holding Corp. (Nasdaq: TNXP) (“Tonix” or the “Company”), a fully-integrated biopharmaceutical company, today announced the closing of its public offering of 1,199,448 shares of its common stock and pre-funded warrants to purchase up to 2,568,110 shares of common stock in a public offering at an offering price of $1.065 per share of common stock and $1.064 pre-funded warrant. The warrants have an exercise price of $0.001 per share and became exercisable upon issuance.

The gross proceeds of the offering are $4.0 million before deducting placement agent fees and other estimated offering expenses payable by the Company. The Company intends to use the net proceeds from the offering for working capital and general corporate purposes, including the preparation of the new drug application relating to its Tonmya™ product candidate in patients with fibromyalgia, and the satisfaction of any portion of its existing indebtedness.

Dawson James Securities, Inc. acted as the sole placement agent for the offering.

Lowenstein Sandler, New York, NY, represented the Company in connection with the offering, and ArentFox Schiff LLP, Washington, DC, represented the placement agent.

This offering was made pursuant to an effective shelf registration statement on Form S-3 (File No. 333-266982) previously filed with the U.S. Securities and Exchange Commission (the “SEC”). The offering was made only by means of a prospectus supplement and accompanying prospectus. A final prospectus supplement and accompanying prospectus describing the terms of the proposed offering were filed with the SEC and are available on the SEC’s website located at http://www.sec.gov. Electronic copies of the preliminary prospectus supplement may be obtained from Dawson James Securities, Inc., 101 North Federal Highway, Suite 600, Boca Raton, FL 33432 or by telephone at (561) 391-5555, or by email at investmentbanking@dawsonjames.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Tonix Pharmaceuticals Holding Corp.^*

Tonix is a fully-integrated biopharmaceutical company focused on developing, licensing and commercializing therapeutics to treat and prevent human disease and alleviate suffering. Tonix’s development portfolio is focused on central nervous system (CNS) disorders. Tonix’s priority is to submit a New Drug Application (NDA) to the FDA in the second half of 2024 for Tonmya¹, a product candidate for which two statistically significant Phase 3 studies have been completed for the management of fibromyalgia. TNX-102 SL is also being developed to treat acute stress reaction as well as fibromyalgia-type Long COVID. Tonix’s CNS portfolio includes TNX-1300 (cocaine esterase), a biologic designed to treat cocaine intoxication that has Breakthrough Therapy designation. Tonix’s immunology development portfolio consists of biologics to address organ transplant rejection, autoimmunity and cancer, including TNX-1500, which is a humanized monoclonal antibody targeting CD40-ligand (CD40L or CD154) being developed for the prevention of allograft rejection and for the treatment of autoimmune diseases. Tonix also has product candidates in development in the areas of rare disease and infectious disease. Tonix Medicines, our commercial subsidiary, markets Zembrace® SymTouch® (sumatriptan injection) 3 mg and Tosymra® (sumatriptan nasal spray) 10 mg for the treatment of acute migraine with or without aura in adults.

*Tonix’s product development candidates are investigational new drugs or biologics and have not been approved for any indication.

Zembrace SymTouch and Tosymra are registered trademarks of Tonix Medicines. All other marks are property of their respective owners.

This press release and further information about Tonix can be found at www.tonixpharma.com.

Forward Looking Statements

Certain statements in this press release are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995 including those relating to the intended use of proceeds from the public offering and other statements that are predictive in nature. These statements may be identified by the use of forward-looking words such as “anticipate,” “believe,” “forecast,” “estimate,” “expect,” and “intend,” among others. These forward-looking statements are based on Tonix’s current expectations and actual results could differ materially. There are a number of factors that could cause actual events to differ materially from those indicated by such forward-looking statements. These factors include, but are not limited to, risks related to the failure to obtain FDA clearances or approvals and noncompliance with FDA regulations; risks related to the failure to successfully market any of our products; risks related to the timing and progress of clinical development of our product candidates; our need for additional financing; uncertainties of patent protection and litigation; uncertainties of government or third party payor reimbursement; limited research and development efforts and dependence upon third parties; and substantial competition. As with any pharmaceutical under development, there are significant risks in the development, regulatory approval and commercialization of new products. Tonix does not undertake an obligation to update or revise any forward-looking statement. Investors should read the risk factors set forth in the Annual Report on Form 10-K for the year ended December 31, 2023, as filed with the Securities and Exchange Commission (the “SEC”) on April 1, 2024, and periodic reports filed with the SEC on or after the date thereof. All of Tonix’s forward-looking statements are expressly qualified by all such risk factors and other cautionary statements. The information set forth herein speaks only as of the date thereof.

Investor Contact
Jessica Morris
Tonix Pharmaceuticals
investor.relations@tonixpharma.com
(862) 904-8182

Peter Vozzo
ICR Westwicke
peter.vozzo@westwicke.com
(443) 213-0505

Media Contact
Katie Dodge
LaVoieHealthScience
kdodge@lavoiehealthscience.com
(978) 360-3151

Source: Tonix Pharmaceuticals Holding Corp.

Released June 13, 2024

Release – Century Lithium Files Technical Report on the Feasibility Study of the Clayton Valley Lithium Project, Nevada

Posted on June 13, 2024June 13, 2024 by aweinsoff@channelchek.com

Research News and Market Data on CYDVF

June 13, 2024 – Vancouver, Canada – Century Lithium Corp. (TSXV: LCE) (OTCQX: CYDVF) (Frankfurt: C1Z) (Century Lithium or the Company) is pleased to announce the filing of the report “NI 43-101 Technical Report on the Feasibility Study of the Clayton Valley Lithium Project, Esmeralda County, Nevada, USA”, with effective date April 29, 2024 (Feasibility Study or Report), to support the disclosure in the Company’s news release dated April 29, 2024 (see news release). The Report was prepared in accordance with National Instrument 43-101 (NI 43-101) by Wood Canada Limited (Wood), Global Resource Engineering, Ltd. (GRE) and WSP USA Environment and Infrastructure, Inc. (WSP). All currency amounts in this news release are presented in US dollars.

“Century Lithium is pleased to file the report on the Feasibility Study of our Clayton Valley Lithium Project,” said Bill Willoughby, President, and CEO. “The Report is the culmination of the dedicated work of our team of employees and consultants and highlights the economic benefits of the Project made possible by Century’s unique use of chlor-alkali and direct lithium extraction processing. The filing of the report now marks another major milestone for the Company.”

During the preparation of the Report, minor changes were made to the parameters used to determine the Mineral Resource and Reserve Estimates. The resulting economic analysis is effectively unchanged. Using a base case price of $24,000/tonne of lithium carbonate, the Project after-tax cash flow has a 17.2% Internal Rate of Return (IRR) and a $3.16 billion Net Present Value (NPV) at an 8% discount rate.

RESOURCE AND RESERVES

The Mineral Resource and Reserve Estimates for the Project were updated for the Report and built using geologic data and 1,318 lithium assays from 45 core holes drilled between 2017 and 2022 and have an effective date of April 29, 2024. The constrained Measured and Indicated Resource Estimate is 1,138.59 million tonnes (Mt) with an average grade of 966 parts per million (ppm) lithium and contains 1.099 Mt of lithium or 5.852 Mt of lithium carbonate equivalent (LCE). The Proven and Probable Mineral Reserve Estimate was derived from the constrained Mineral Resources and contains 287.65 Mt with an average grade of 1,149 ppm lithium and contains 0.330 Mt of lithium or 1.759 Mt of LCE.

Mineral Resource Estimate
Domain	Tonnes Above Cut-off (millions)	Li Grade (ppm)	Li Contained (million t)	LCE (million t)
Measured	858.26	990	0.850	4.523
Indicated	280.33	891	0.250	1.329
Measured & Indicated	1,138.59	966	1.099	5.582
Inferred	187.28	820	0.154	0.817
1.The effective date of the Mineral Resource Estimate is April 29, 2024. The QP for the estimate is Ms. Terre Lane, MMSA, an employee of GRE and independent of Century. 2.The Mineral Resources are constrained by a pit shell with a 200 ppm Li cut-off and density of 1.505 g/cm3. The cut-off grade considers an operating cost of$20/t mill feed, process recovery of 78% and a long-term lithium carbonate price of $24,000/t. 3.The Mineral Resource estimate was prepared in accordance with 2014 CIM Definition Standards and the 2019 CIM Best Practice Guidelines. 4.Mineral Resource figures have been rounded. 5.One tonne of lithium = 5.323 tonnes lithium carbonate. 6.Mineral Resources are inclusive of Mineral Reserves.

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Mineral Reserve Estimate
Domain	Tonnes Above Cut-off (millions)	Li Grade (ppm)	Li Contained (million t)	LCE (million t)
Proven	266.39	1,147	0.306	1.626
Probable	21.26	1,174	0.025	0.133
Proven & Probable	287.65	1,149	0.330	1.759
1.The effective date of the Mineral Reserve Estimate is April 29, 2024. The QP for the estimate is Ms. Terre Lane, MMSA, an employee of GRE and independent of Century. 2.The Mineral Reserve estimate was prepared in accordance with 2014 CIM Definition Standards and 2019 CIM Best Practice Guidelines. 3.Mineral Reserves are reported within the final pit design at a mining cut-off of 900 ppm. The mine operating cost is $5.44/t milled, processing cost of $40.9/t milled, G&A cost of $2.68/t milled and a credit for the NaOH sales of $28.95/t milled. The NaOH sales credit is proportionally applied to all the operating costs to get appropriate costs for the cut-off grade calculation. The cut-off grade considers a mine operating cost of $2.22/t, a process operating cost of $16.69/t milled, a G&A cost of $1.09/t milled, process recovery of 78% and a long-term lithium carbonate price of $24,000/t. 4.The cut-off of 900 ppm is an elevated cut-off selected for the mine production schedule as the elevated cut-off is 4.5 times higher than the break-even cut-off grade. 5. Mineral Reserve figures have been rounded. 6.One tonne of lithium=5.323 tonnes lithium carbonate

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PROJECT SUMMARY

Century’s Project centers on the mining and processing of a large, flat-lying lithium claystone deposit. Mineral Reserves are sufficient to support a mine life of approximately 40 years.

Mining is by mechanized surface excavation of claystone at production rates of 7,500 to 22,500 tonnes/day of mill feed, and 13,000 to 39,000 tonnes/year of lithium carbonate. Lithium recovery is through Century’s patent-pending process that combines chloride leaching with direct lithium extraction to produce a marketable battery-quality product at the Project site.

The Report is available on SEDAR+ and on the Company’s website.

QUALIFIED PERSON

Terre Lane, RM SME, MMSA, Principal Mining Engineer, GRE, is an independent qualified person as defined by National Instrument 43-101 and has approved the technical information in this release.

ABOUT CENTURY LITHIUM CORP.

Century Lithium Corp. is an advanced stage lithium company, focused on developing its 100%-owned Clayton Valley Lithium Project in west-central Nevada, USA. Century Lithium recently completed a Feasibility Study on its Clayton Valley Lithium Project and is currently in the permitting stage, with the goal of becoming a domestic producer of lithium for the growing electric vehicle and battery storage market.

ON BEHALF OF CENTURY LITHIUM CORP.
WILLIAM WILLOUGHBY, PhD., PE
President & Chief Executive Officer

For further information, please contact:
Spiros Cacos | Vice President, Investor Relations
Direct: +1 604 764 1851
Toll Free: 1 800 567 8181
scacos@centurylithium.com
centurylithium.com

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

Cautionary Note Regarding Forward-Looking Statements

This release contains certain forward-looking statements within the meaning of applicable Canadian securities legislation. In certain cases, forward-looking statements can be identified by the use of words such as “plans”, “expects” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved” and similar expressions suggesting future outcomes or statements regarding an outlook.

Forward-looking statements relate to any matters that are not historical facts and statements of our beliefs, intentions and expectations about developments, results and events which will or may occur in the future, without limitation, statements with respect to the potential development and value of the Project and benefits associated therewith, statements with respect to the expected project economics for the Project, such as estimates of life of mine, lithium prices, production and recoveries, capital and operating costs, IRR, NPV and cash flows, any projections outlined in the Feasibility Study in respect of the Project, the permitting status of the Project and the Company’s future development plans.

These and other forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of the Company to control or predict, that may cause their actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein. These risks include those described under the heading “Risk Factors” in the Company’s most recent annual information form and its other public filings, copies of which can be under the Company’s profile at www.sedarplus.com. The Company expressly disclaims any obligation to update-forward-looking information except as required by applicable law. No forward-looking statement can be guaranteed, and actual future results may vary materially. Accordingly, readers are advised not to place reliance on forward-looking statements or information. Furthermore, Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.

Kelly Services (KELYA) – Further Portfolio Optimization

Posted on June 13, 2024June 13, 2024 by cpereira@noblefcm.com

Thursday, June 13, 2024

Kelly (Nasdaq: KELYA, KELYB) connects talented people to companies in need of their skills in areas including Science, Engineering, Education, Office, Contact Center, Light Industrial, and more. We’re always thinking about what’s next in the evolving world of work, and we help people ditch the script on old ways of thinking and embrace the value of all workstyles in the workplace. We directly employ nearly 350,000 people around the world and connect thousands more with work through our global network of talent suppliers and partners in our outsourcing and consulting practice. Revenue in 2021 was $4.9 billion. Visit kellyservices.com and let us help with what’s next for you.

Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Portfolio Optimization. Continuing its strategic actions to optimize its operating model and unlock capital, Kelly has sold the Ayers Group, a division of KellyOCG, to Keystone Partners, a Silver Oak Services Partners LLC portfolio company. While financial terms were not disclosed, the transaction further allows the Company to focus resources on specialties where KellyOCG is well positioned to compete and win over the long term, in our view.

Ayers Group. A provider of outplacement, executive coaching, and leadership development solutions to employers, Ayers was acquired by Kelly in 2006 for $4.6 million, with another $1.3 million of potential earnouts. Ayers was generating about $10 million of revenue at the time and while Kelly does not break out Ayers’ current revenue contribution, various sources estimate current revenue in the $20 million range.

Get the Full Report

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

Could These 5 Micro-Cap Sectors Be the Next Big Thing?

Posted on June 13, 2024June 13, 2024 by slightbourne@noblecapitalmarkets.com

In the ever-evolving world of investing, savvy investors are constantly on the hunt for opportunities that offer the potential for outsized returns. While large-cap companies often dominate the spotlight, it’s the micro-cap universe that harbors some of the most exciting and undiscovered investment prospects. With market capitalizations typically ranging from $50 million to $300 million, these pint-sized powerhouses can pack a punch for those willing to navigate their inherent risks and volatility. In this article, we’ll explore the top micro-cap sectors that astute investors should have on their radar.

Technology
The technology sector has long been a breeding ground for micro-cap innovation, and the rise of artificial intelligence (AI) has added another compelling opportunity. From software-as-a-service (SaaS) companies revolutionizing business processes to cybersecurity firms safeguarding our digital lives, micro-caps in this space are at the forefront of disruption. As businesses embrace AI capabilities, micro-cap tech companies developing cutting-edge AI solutions could experience exponential growth, making them attractive targets for investors seeking outsized returns.

Healthcare and Biotech
The healthcare and biotech sectors are teeming with micro-cap companies pursuing groundbreaking treatments and medical devices. While the risks are undoubtedly high, with many drug candidates failing to reach commercialization, the potential rewards for successful micro-cap biotech firms can be staggering. From gene therapies to novel diagnostic tools, these micro-caps could revolutionize patient care and generate substantial returns for early investors.

Natural Resources
As the global demand for natural resources continues to surge, micro-cap companies in the mining, oil and gas, and agriculture sectors could present lucrative opportunities. Micro-cap mining firms with promising mineral deposits or innovative extraction technologies may capture significant value as commodity prices fluctuate. Similarly, micro-cap oil and gas companies leveraging cutting-edge drilling or fracking techniques could capitalize on energy market dynamics.

Manufacturing and Industrials
The manufacturing and industrials sectors are ripe with micro-cap companies offering innovative solutions to enhance productivity, automate processes, and streamline operations. From advanced robotics and automation technologies to cutting-edge materials and components, these micro-caps could experience significant growth as manufacturers seek to gain a competitive edge.

Consumer and Retail: Riding the Wave of Disruption
The consumer and retail sectors are breeding grounds for micro-cap disruptors challenging established brands and business models. From emerging consumer brands tapping into niche markets to e-commerce and subscription-based retailers reshaping the shopping experience, these micro-caps have the potential to capture significant market share and generate substantial returns.

Navigating the micro-cap universe requires a keen eye for potential, a appetite for risk, and unwavering patience. However, for investors willing to put in the effort and embrace a long-term mindset, the rewards can be substantial. By maintaining a diversified portfolio across these promising micro-cap sectors, conducting thorough due diligence, and staying attuned to emerging trends and catalysts, savvy investors can unearth hidden gems before they capture the spotlight. While the journey may be full of twists and turns, the ability to identify and capitalize on the next big thing can separate the micro-cap maestros from the masses. Embrace the thrill of the hunt, and let your passion for discovering untapped potential be your guide through the exciting realm of micro-cap investing.

Inflation Cools in May, Raising Hopes for Fed Rate Cuts

Posted on June 13, 2024June 13, 2024 by slightbourne@noblecapitalmarkets.com

In a much-needed respite for consumers and the economy, the latest U.S. inflation data showed pricing pressures eased significantly in May. The Consumer Price Index (CPI) remained flat month-over-month and rose just 3.3% annually, according to the Bureau of Labor Statistics report released Wednesday. Both measures came in below economist expectations, marking the lowest monthly headline CPI reading since July 2022.

The lower-than-expected inflation numbers were driven primarily by a decline in energy costs, led by a 3.6% monthly drop in gasoline prices. The overall energy index fell 2% from April to May after rising 1.1% the previous month. On an annual basis, energy prices climbed 3.7%.

Stripping out the volatile food and energy categories, so-called core CPI increased just 0.2% from April, the smallest monthly rise since June 2023. The annual core inflation rate ticked down to 3.4%, moderating from the prior month’s 3.5% gain.

The cooling inflation data arrives at a pivotal time for the Federal Reserve as policymakers weigh their next policy move. Central bank officials have repeatedly stressed their commitment to bringing inflation back down to the 2% target, even at the risk of slower economic growth. The latest CPI print strengthens the case for interest rate cuts in the coming months.

Financial markets reacted positively to the encouraging inflation signals, with the 10-year Treasury yield falling around 12 basis points as traders priced in higher odds of the Fed starting to cut rates as soon as September. According to futures pricing, markets now see a 69% chance of a rate cut at the central bank’s September meeting, up sharply from 53% before the CPI release.

While the overall inflation trajectory is encouraging, some underlying price pressures remain stubbornly high. The shelter index, which includes rents and owners’ equivalent rent, rose 0.4% on the month and is up a stubbornly high 5.4% from a year ago. Persistent shelter inflation has been one of the biggest drivers of elevated core inflation readings over the past year.

Economists expect the housing components of inflation to eventually moderate given the recent rise in rental vacancy rates and slowing home price appreciation. However, the timing of that slowdown remains highly uncertain, keeping a key pillar of inflation risk intact for the time being.

Beyond shelter costs, other indexes that posted monthly increases included medical care services, used vehicle prices, and tuition costs for higher education. In contrast, airline fares, prices for new cars and trucks, communication services fees, recreation expenses and apparel prices all declined from April to May.

Despite the positive inflation signals from the latest CPI report, Federal Reserve officials have cautioned that the path back to 2% price stability will likely encounter bumps along the way. Last week’s stronger-than-expected jobs report reinforced the central bank’s hawkish policy stance, with the labor market adding 272,000 positions in May versus expectations for 180,000. Wage growth also remained elevated at 4.1% annually.

With both low inflation and low unemployment now seemingly achievable, the Federal Reserve will need to carefully navigate its policy path to engineer a so-called “soft landing” without tipping the economy into recession. Many economists expect at least a couple of 25 basis point rate cuts by early 2024 if inflation continues cooling as expected.

For investors, the latest CPI data provides a much-needed burst of optimism into markets that have been weighed down by persistent inflation fears and looming recession risks over the past year. Lower consumer prices should provide some relief for corporate profit margins while also supporting spending among cost-conscious households. However, the key question is whether this downshift in inflation proves durable or merely a temporary reprieve.

The Fed’s ability to deftly manage the competing forces of lowering inflation while sustaining economic growth will be critical for shaping the trajectory of investment portfolios in the months ahead. Keep a close eye on forward inflation indicators like consumer expectations, global supply dynamics, and wage trends to gauge whether this cooling phase proves lasting or short-lived. The high-stakes inflation battle is far from over.

Apple Reclaims World’s Most Valuable Company Crown with Transformative AI Strategy

Posted on June 12, 2024June 12, 2024 by slightbourne@noblecapitalmarkets.com

In the relentless battle for tech supremacy, Apple has reclaimed its throne, dethroning Microsoft as the world’s most valuable public company after unveiling an ambitious artificial intelligence roadmap. The iPhone maker’s market capitalization surged past $3.3 trillion on Wednesday, surpassing Microsoft’s $3.2 trillion valuation, as investors rallied behind Apple’s audacious AI vision.

For years, Apple had remained relatively muted about its artificial intelligence pursuits, even as rivals like Microsoft, Google, and OpenAI raced ahead with generative AI models and conversational assistants. However, the company’s silence was shattered at its Worldwide Developers Conference (WWDC) on Monday, where it unveiled “Apple Intelligence” – a sweeping initiative to infuse AI capabilities across its product ecosystem.

At the core of Apple’s AI strategy is a suite of generative AI features that will be deeply integrated into its software and hardware. From writing assistance in core apps like Mail and Notes to AI-powered image and emoji generation, Apple aims to make artificial intelligence a seamless part of its user experience. Crucially, many of these cutting-edge AI capabilities will be exclusive to the latest iPhone models, potentially driving a surge in device upgrades and sales – a phenomenon analysts are calling an “iPhone super cycle.”

But Apple’s ambitions extend far beyond consumer-facing features. The company also announced plans to integrate large language models developed by OpenAI, a company in which Microsoft is a major investor, into its products and services. This strategic partnership underscores the complex web of alliances and rivalries that are emerging in the AI race.

While Apple’s AI plans have garnered widespread enthusiasm, skeptics question whether the company’s walled garden approach can truly compete with the open ecosystems fostered by rivals like Microsoft and Google. Apple’s insistence on maintaining tight control over its platforms and data has long been a source of contention, and some analysts worry that this could hamper the company’s ability to develop cutting-edge AI models at scale.

Nevertheless, Apple’s AI announcement has sent shockwaves through the tech industry, reigniting the battle for market dominance and technological leadership. As the company leverages its vast resources, cutting-edge hardware, and loyal user base to integrate AI into its products, it is poised to reshape the tech landscape and solidify its position as a formidable force in the AI revolution.

The resurgence of Apple as the world’s most valuable company is a testament to the immense potential – and potential pitfalls – of artificial intelligence. While AI promises to revolutionize industries and reshape the way we live and work, it also raises complex ethical and societal questions that must be grappled with by tech giants and policymakers alike.

As the AI race intensifies, companies like Apple and Microsoft will not only be vying for market supremacy but also shouldering the responsibility of shaping the future of this transformative technology. From addressing issues of bias and privacy to navigating the ethical implications of AI, these tech titans will play a pivotal role in determining how this powerful technology is developed and deployed.

With its latest AI offensive, Apple has reasserted its position as a tech leader, but the battle for AI dominance is far from over. As the industry continues to evolve at a breakneck pace, the companies that can strike the right balance between innovation, ethics, and user trust will emerge as the true winners in this high-stakes race.

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Release – Tonix Pharmaceuticals Announces Pricing of $4.0 Million Public Offering

Posted on June 12, 2024June 12, 2024 by aweinsoff@channelchek.com

Research News and Market Data on TNXP

June 12, 2024 9:00am EDT

CHATHAM, N.J., June 12, 2024 (GLOBE NEWSWIRE) — Tonix Pharmaceuticals Holding Corp. (Nasdaq: TNXP) (“Tonix” or the “Company”), a fully-integrated biopharmaceutical company, today announced it has entered into a placement agency agreement for the purchase and sale of 3,753,558 shares of its common stock (or pre-funded warrants in lieu thereof) at an offering price of $1.065 per share (or $1.064 per pre-funded warrant in lieu thereof). The closing of the public offering is expected to take place on or about June 13, 2024, subject to the satisfaction of customary closing conditions.

The gross proceeds of the offering will be approximately $4.0 million before deducting placement agent fees and other estimated offering expenses payable by the Company. The Company intends to use the net proceeds from the offering for working capital and general corporate purposes, including the preparation of the new drug application relating to its Tonmya™ product candidate in patients with fibromyalgia, and the satisfaction of any portion of its existing indebtedness.

Dawson James Securities, Inc. is acting as the sole placement agent for the offering.

This offering is being made pursuant to an effective shelf registration statement on Form S-3 (File No. 333-266982) previously filed with the U.S. Securities and Exchange Commission (the “SEC”). The offering will be made only by means of a prospectus supplement and accompanying base prospectus, as may be further supplemented by any free writing prospectus and/or pricing supplement that Tonix may file with the SEC. A preliminary prospectus supplement and accompanying prospectus describing the terms of the proposed offering have been filed with the SEC and are available on the SEC’s website located at http://www.sec.gov. Electronic copies of the preliminary prospectus supplement may be obtained from Dawson James Securities, Inc., 101 North Federal Highway, Suite 600, Boca Raton, FL 33432 or by telephone at (561) 391-5555, or by email at investmentbanking@dawsonjames.com. Before investing in this offering, interested parties should read in their entirety the prospectus supplement and the accompanying prospectus and the other documents that Tonix has filed with the SEC that are incorporated by reference in such prospectus supplement and the accompanying prospectus, which provide more information about Tonix and such offering.

Tonix Pharmaceuticals Holding Corp.*

Tonix is a fully-integrated biopharmaceutical company focused on developing, licensing and commercializing therapeutics to treat and prevent human disease and alleviate suffering. Tonix’s development portfolio is focused on central nervous system (CNS) disorders. Tonix’s priority is to submit a New Drug Application (NDA) to the FDA in the second half of 2024 for Tonmya¹, a product candidate for which two statistically significant Phase 3 studies have been completed for the management of fibromyalgia. TNX-102 SL is also being developed to treat acute stress reaction as well as fibromyalgia-type Long COVID. Tonix’s CNS portfolio includes TNX-1300 (cocaine esterase), a biologic designed to treat cocaine intoxication that has Breakthrough Therapy designation. Tonix’s immunology development portfolio consists of biologics to address organ transplant rejection, autoimmunity and cancer, including TNX-1500, which is a humanized monoclonal antibody targeting CD40-ligand (CD40L or CD154) being developed for the prevention of allograft rejection and for the treatment of autoimmune diseases. Tonix also has product candidates in development in the areas of rare disease and infectious disease. Tonix Medicines, our commercial subsidiary, markets Zembrace® SymTouch® (sumatriptan injection) 3 mg and Tosymra® (sumatriptan nasal spray) 10 mg for the treatment of acute migraine with or without aura in adults.

*Tonix’s product development candidates are investigational new drugs or biologics and have not been approved for any indication.

Zembrace SymTouch and Tosymra are registered trademarks of Tonix Medicines. All other marks are property of their respective owners.

This press release and further information about Tonix can be found at www.tonixpharma.com.

Forward Looking Statements

Certain statements in this press release are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995 including those relating to the completion of the public offering, the satisfaction of customary closing conditions, the intended use of proceeds from the public offering and other statements that are predictive in nature. These statements may be identified by the use of forward-looking words such as “anticipate,” “believe,” “forecast,” “estimate,” “expect,” and “intend,” among others. These forward-looking statements are based on Tonix’s current expectations and actual results could differ materially. There are a number of factors that could cause actual events to differ materially from those indicated by such forward-looking statements. These factors include, but are not limited to, risks related to the failure to obtain FDA clearances or approvals and noncompliance with FDA regulations; risks related to the failure to successfully market any of our products; risks related to the timing and progress of clinical development of our product candidates; our need for additional financing; uncertainties of patent protection and litigation; uncertainties of government or third party payor reimbursement; limited research and development efforts and dependence upon third parties; and substantial competition. As with any pharmaceutical under development, there are significant risks in the development, regulatory approval and commercialization of new products. Tonix does not undertake an obligation to update or revise any forward-looking statement. Investors should read the risk factors set forth in the Annual Report on Form 10-K for the year ended December 31, 2023, as filed with the Securities and Exchange Commission (the “SEC”) on April 1, 2024, and periodic reports filed with the SEC on or after the date thereof. All of Tonix’s forward-looking statements are expressly qualified by all such risk factors and other cautionary statements. The information set forth herein speaks only as of the date thereof.

Investor Contact
Jessica Morris
Tonix Pharmaceuticals
investor.relations@tonixpharma.com
(862) 904-8182

Peter Vozzo
ICR Westwicke
peter.vozzo@westwicke.com
(443) 213-0505

Media Contact
Katie Dodge
LaVoieHealthScience
kdodge@lavoiehealthscience.com
(978) 360-3151