Tonix Pharma | 8-K: FY2026 Q2 Revenue Beats Estimate at USD 13.54 M

Revenue: As of FY2026 Q2, the actual value is USD 13.54 M, beating the estimate of USD 7.723 M.

EPS: As of FY2026 Q2, the actual value is USD -2.44, beating the estimate of USD -2.71.

EBIT: As of FY2026 Q2, the actual value is USD -41.94 M.

Financial Highlights

Tonix Pharmaceuticals Holding Corp. had approximately $176.2 million in cash and cash equivalents as of June 30, 2026, a decrease from approximately $207.6 million as of December 31, 2025.Net cash used in operating activities was approximately $84.6 million for the six months ended June 30, 2026, compared to $31.4 million for the same period in 2025.Subsequent to the quarter-end, Tonix Pharmaceuticals Holding Corp. raised $3.7 million in proceeds under its At-the-Market facility.

Second Quarter 2026 Financial Results (Three Months Ended June 30)

Net product revenue for the second quarter of 2026 was approximately $13.5 million, significantly up from $2.0 million for the same period in 2025.This included approximately $11.0 million from TONMYA net sales and approximately $2.5 million from Zembrace SymTouch and Tosymra sales.For the same period in 2025, Zembrace SymTouch and Tosymra sales were $2.0 million.Cost of revenue was approximately $0.7 million for the second quarter of 2026, a decrease from $3.3 million for the same period in 2025.Research and Development (R&D) expenses increased to approximately $19.4 million in the second quarter of 2026, from $10.8 million in the same period of 2025.Selling, General, and Administrative (SG&A) expenses rose to approximately $36.0 million in the second quarter of 2026, from $16.2 million in the same period of 2025.Operating loss for the second quarter of 2026 was - $42.535 million, compared to - $28.296 million for the same period in 2025.Grant income was $0.6 million for the second quarter of 2026, down from $1.036 million for the same period in 2025.Net interest income increased to $1.432 million in the second quarter of 2026, from $0.943 million in the same period of 2025.Other expense, net, was - $0.049 million for the second quarter of 2026, compared to - $1.955 million for the same period in 2025.Net loss available to common stockholders was - $40.552 million for the second quarter of 2026, compared to - $28.272 million for the same period in 2025.

Six Months Ended June 30, 2026 Financial Results

Net product revenue for the six months ended June 30, 2026, was $20.422 million, compared to $4.427 million for the same period in 2025.Cost of revenue was $2.281 million for the six months ended June 30, 2026, compared to $4.215 million for the same period in 2025.Research and Development (R&D) expenses were $37.630 million for the six months ended June 30, 2026, compared to $18.256 million for the same period in 2025.Selling, General, and Administrative (SG&A) expenses were $64.583 million for the six months ended June 30, 2026, compared to $26.306 million for the same period in 2025.Operating loss for the six months ended June 30, 2026, was - $84.072 million, compared to - $44.350 million for the same period in 2025.Grant income was $0.6 million for the six months ended June 30, 2026, compared to $1.959 million for the same period in 2025.Loss on extinguishment of debt was $0 million for the six months ended June 30, 2026, compared to - $2.092 million for the same period in 2025.Net interest income was $2.778 million for the six months ended June 30, 2026, compared to $1.571 million for the same period in 2025.Other expense, net, was - $0.052 million for the six months ended June 30, 2026, compared to - $2.189 million for the same period in 2025.Net loss available to common stockholders was - $80.746 million for the six months ended June 30, 2026, compared to - $45.101 million for the same period in 2025.

Operational Metrics

In the second quarter of 2026, TONMYA saw 12,592 total prescriptions, a 100% increase quarter-over-quarter.New patient prescriptions increased by 36% quarter-over-quarter, and refills increased by 207% quarter-over-quarter.Total coverage for TONMYA across commercial, managed Medicare, and Medicaid channels reached approximately 136 million covered lives, representing about 43% of total U.S. covered lives.Upon the managed Medicare payer coverage agreement going into effect on January 1, 2027, total coverage is expected to reach approximately 145 million covered lives, or about 46% of total U.S. covered lives.Tonix Pharmaceuticals Holding Corp. plans to deploy 50 new sales representatives by September 2026, expanding the full sales force to approximately 150 people.The first patient was enrolled in the Phase 2 HORIZON study for major depressive disorder (MDD) in June 2026.Topline data from the OASIS study for acute stress disorder (ASD) and acute stress reaction (ASR) is expected mid-2027.Tonix Pharmaceuticals Holding Corp. plans to meet with the FDA in 2026 to inform the clinical design of the next Phase 2 study for cocaine intoxication (TNX-1300).A Phase 2 adaptive field study for the prevention of Lyme disease (TNX-4800) is expected to start in the first quarter of 2027.A Phase 1 study for the prevention of smallpox and mpox (TNX-801) is expected to begin in mid-2027.The TNX-4200 program began its next project phase in the second quarter, supported by a Department of Defense contract.A Phase 2, open-label, investigator-initiated study for kidney transplant patients (TNX-1500) is expected to initiate in the second half of 2026.Tonix Pharmaceuticals Holding Corp. plans to initiate a Phase 2 study for Prader-Willi syndrome (TNX-2900) in the second half of 2027.

Outlook / Guidance

Tonix Pharmaceuticals Holding Corp. anticipates its cash resources as of June 30, 2026, combined with subsequent equity offering proceeds, will fund operations into early the second quarter of 2027.The company expects to initiate several key clinical studies, including TNX-4800 in early 2027 and TNX-801 in mid-2027.Furthermore, Tonix Pharmaceuticals Holding Corp. is expanding its TONMYA sales force to approximately 150 people by September 2026 to support broader market reach.