Shares of Tonix Pharmaceuticals Holding Corp ( TNXP ) are trading lower by 6.8% to $26.83 during Thursday’s session, potentially pulling back on profit-taking, after surging around 60% this week following a regulatory update on its experimental fibromyalgia treatment, TNX-102 SL.

What To Know: Tonix announced on Tuesday that the FDA will not require an Advisory Committee meeting for its New Drug Application for TNX-102 SL, removing a potential roadblock in the approval process. This decision brings the company one step closer to a potential Q4 2025 launch, pending final FDA approval.

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CEO Seth Lederman emphasized the drug’s potential to introduce a new class of fibromyalgia treatments, offering hope to millions of patients struggling with this chronic pain disorder.

TNX-102 SL is a sublingual formulation of cyclobenzaprine HCl, designed to improve symptom management in fibromyalgia patients. The drug was granted Fast Track designation in 2024, expediting its regulatory review.

Tonix says the company remains optimistic about the drug's potential to provide a new, effective treatment option for patients seeking relief.

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How To Buy TNXP Stock

By now you're likely curious about how to participate in the market for Tonix Pharmaceuticals ( TNXP ) – be it to purchase shares, or even attempt to bet against the company.

Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy “fractional shares,” which allows you to own portions of stock without buying an entire share.

In the case of Tonix Pharmaceuticals ( TNXP ), which is trading at $25.76 as of publishing time, $100 would buy you 3.88 shares of stock.

If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to “go short” a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.

According to data from Benzinga Pro, TNXP has a 52-week high of $1,146.01 and a 52-week low of $6.76.