TNXP Stock Rises Premarket: Investors Cheer Early Traction For Fibromyalgia Drug Despite Weak Q4 Print

Tonmya launch gained early uptake, with over 1,500 healthcare providers prescribing the drug until Feb.27.

• CEO Seth Lederman said early trends show favorable prescriber uptake and repeat utilization.
• Investors are also watching TNX-4800, with the company planning FDA talks on Phase 2/3 development and potential studies beginning in 2027-2028.
• Tonix posted a net loss of $46.9 million in Q4, compared with a net loss of $22.1 million a year ago.

Shares of Tonix Pharmaceuticals (TNXP) rose over 1% in premarket trading on Friday as investors cheered early prescription traction for its fibromyalgia drug Tonmya and growing interest in its Lyme disease prevention program, despite a wider quarterly loss.

TNXP stock is headed for its seventh straight week of losses and has declined 0.3% so far this week.

Tonmya Launch Gains Early Prescriber Traction

Tonix said Tonmya, approved by the U.S. Food and Drug Administration (FDA) in August 2025 for fibromyalgia in adults, is showing early adoption after its Nov.17, 2025, commercial launch. The therapy is the first new prescription medicine approved for fibromyalgia in more than 15 years.

Through Feb.27, more than 1,500 healthcare providers had prescribed Tonmya, about 2,500 patients had initiated treatment and cumulative prescriptions reached nearly 4,200, including bridge prescriptions provided through the company’s specialty pharmacy channel.

“Early prescription trends reflect favorable prescriber uptake and repeat utilization consistent with our internal launch expectations,” CEO Seth Lederman said in a statement. Tonix has established distribution through wholesalers, specialty pharmacies, and patient support programs, including copay assistance and prior authorization services.

Speaking at the Life Sciences Virtual Investor Forum on Wednesday, Lederman said early anecdotal feedback suggests patients are reporting positive results and that prescribing is occurring across multiple specialties, including rheumatology, primary care, pain management and neurology.

Lyme Disease Prevention Drug In Focus

Investors have also been paying attention to TNX-4800, a long-acting monoclonal antibody for the seasonal prevention of Lyme disease, an area with no FDA-approved vaccines or prophylactic treatments currently available.

Tonix plans to meet with the FDA this year to discuss Phase 2/3 development options, including a field study and a controlled human infection model study. The company expects investigational products to be available in early 2027, with a U.S. field study potentially beginning in 2027 and a human challenge study planned for 2028.

TNXP Q4 Review

Tonix reported fourth-quarter (Q4) revenue of about $534 million, significantly up from $2.6 million a year earlier. However, the company posted a net loss of $46.9 million, or $3.98 per share, compared with a net loss of $22.1 million, or $9.77 per share, in the same period a year ago.

Tonix ended 2025 with $207.6 million in cash and cash equivalents, which will fund operations into the first quarter of 2027.

How Did Stocktwits Users React?

On Stocktwits, retail sentiment for TNXP was ‘extremely bullish’ amid ‘extremely high’ message volume.

One user called Tonix’s latest earnings report “very encouraging.”

Another user said, “$20m-$25m cash burn = 2 years continuing at the current burn with no change to operations or factoring revenue increases,” adding that they expect the stock to rise over $60 by June. 

TNXP stock has declined 14% so far this year.

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