Tonix Pharmaceuticals Holding Corp. (TNXP) completed its uplisting from the Nasdaq Capital Market to the Nasdaq Global Select Market on March 3 2026, a move that required the company to meet higher financial and corporate‑governance thresholds. The transition is expected to improve liquidity and broaden the company’s appeal to institutional investors.
Tonix’s 2025 financial results provide context for the uplisting. Net revenue rose to $13.1 million from $10.1 million in 2024, while the net loss narrowed to $118.9 million from $130.0 million the prior year. Cash and cash equivalents stood at $207.6 million as of December 31 2025, giving the company a runway that extends into the first quarter of 2027. These figures demonstrate the company’s ability to satisfy the stricter market‑cap, public‑float, and bid‑price requirements of the Global Select tier.
The uplisting coincides with the commercial launch of TONMYA, the first new fibromyalgia treatment approved by the FDA in more than 15 years. TONMYA was approved in August 2025 and launched in the United States on November 17 2025. The product’s entry into the market underpins Tonix’s commercial strategy and supports the company’s broader pipeline, which includes candidates for Lyme disease and kidney‑transplant rejection.
CEO Seth Lederman said, “Uplisting to the Nasdaq Global Select Market is an important milestone for Tonix. We look forward to leveraging this enhanced platform to drive growth and create value for our shareholders. We’re grateful for the support that has brought us here and excited about what’s ahead.” The statement underscores the company’s confidence that the new listing will facilitate future capital raising and accelerate commercialization efforts.
The uplisting signals Tonix’s maturation and positions the company to attract larger institutional investors while maintaining its focus on commercializing TONMYA and advancing its pipeline. The move aligns with the company’s strategy to strengthen its market presence and support long‑term growth.”
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