Built from weaker models, sales multiples or analyst targets, so treat it as a rough guide.
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Valued as a loss-making company: Sales comps and Net cash floor.
ACCE opinionTonix Pharmaceuticals Holding Corp. Common Stock (TNXP)
Fair value
Not available
ACCE price target
$5.90
Rating
Not rated
Horizon
12 months
ACCE price target published on 15 Oct 2026, 00:00 CEST.
Price used: $5.17 at the close on 23 Oct 2026, 22:00 CEST.
Models: Net cash floor and Sales comps.
Fair value: the average of the applicable valuation models (discounted cash flow, multiples, residual income, dividend discount, shareholder yield), each run on the latest financial statements and the market price shown. Opinion columns (fair value, target, rating) are shown apart from the data. Full methodology: acceinvestments.com/data/how-we-value-stocks
Conflicts of interest: The author holds no personal position in this security. General statement
Produced by ACCE Investments (acceinvestments.com)
Data
ACCE score
40
out of 100
Analysts
100% buy
3 covering
1-year return
-72.2%
Dividend yield
0.00%
Tonix Pharmaceuticals Holding Corp. Common Stock in four questions
Plain answers, details below
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Overview
ACCE thesis
Tonix Pharmaceuticals develops small-molecule and biologic therapeutics, with its commercial focus on TNX-102 SL, a sublingual cyclobenzaprine formulation approved for fibromyalgia, and a pipeline spanning pain, neuropsychiatry and infectious disease. The 83.8% gross margin shows the product economics are real, but the operating margin of -314.1% and ROE of -81.8% show a business still spending far ahead of its revenue. Revenue growth of 577.9% reflects a very small base ramping, so the number says more about launch timing than about scale. The stock is sub-$200 million in market cap, carries no index membership, and scores 40/100 on our framework, so this is a speculative launch-stage story rather than a cash-generating one. It merits a deeper look only if the fibromyalgia launch is tracking toward a prescription trajectory that can close the gap to breakeven before the balance sheet forces dilution.