ken_elt : By right, the stock exchange should not allow short selling when price is below $1. Otherwise, price is being controlled even the company has good news. If RS is not allowed, due to a prior year RS was done, then this is not a good idea as the company will be open to attack by any party.

ken_elt Reubydoo : Why are you hoping for RS? It reduces your number of shares with a corresponding increase in share price. Your total value is still the same, and if the company does not perform financially or no good news on their clinical test, the share price will continue to go down.

ken_elt Angelos : (TNXP) - Analyzing Tonix Pharmaceuticals's Short Interest
https://www.moomoo.com/t/news/post/44847037/VRYnbEnzra

ken_elt : They have 180 days to comply to ensure price is above 1 dollar. So, let's all push up the price so that no need reverse split.

ken_elt : Everyone panic selling after hearing RS proposal has been approved by the shareholder. Anyway, the company has one year to implement this RS. More importantly is by mid Dec, if the NDA submission is accepted by FDA for a formal process, then it will be positive news.

ken_elt : It is very normal for clinical stage biopharmaceutical company to incur losses. On the positive news, they have submitted the NDA to FDA which was allowed a fast track review and approval.

ken_elt : As of today, there is no issuance of new non-compliance of minimum bid-price rule to the company. Even if it is issued now, the company has 180 days to comply. The last reverse split done was in June 2024.

ken_elt : The special shareholders' meeting to be held on 30 Oct is to seek approval of a proposal which allow the Board to effect a reverse stock split, in its discretion at any time within one year after shareholder approval is obtained. As I see it, the company just want to ensure that they are prepared in the event they are called by the exchange to comply with the minimum bid price. So far, there is no issuance of non-compliance by the exchange and normally company is allow 180 days to comply.

ken_elt : Tonix has announced that they submitted the NDA on 16 October 2024. Under Fast Track, FDA will take 60 days to evaluate the submission for completeness. If accepted for submission, it will typically take 6 to 10 months for a decision by FDA under a Priority Review.

ken_elt : So, the important day to track is in mid December 2024 to know whether the NDA submission is accepted for the formal process of review to begin.