your badges 52W Range $9–$25 1% of range Analyst Rating BUY 10 analysts Price Target $44 +399% upside P/E -0.7 ROE -81.8% Net Profit Margin -548.6%

TNXP Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range

03
Price $8.91
Market Cap (MRQ) $150M
P/E (TTM) -0.7
EPS (TTM) $-13.24
Revenue (TTM) $29M
ROE (TTM) -81.8%
52W Range $9–$25

TNXP Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view

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Stock splits 8
Ex-date Split Type
Feb. 5, 2025 1-for-100 Reverse
June 10, 2024 1-for-32 Reverse
May 10, 2023 1-for-6 Reverse
May 17, 2022 1-for-32 Reverse
Nov. 1, 2019 1-for-10 Reverse
Nov. 28, 2018 1-for-10 Reverse
March 17, 2017 1-for-10 Reverse
May 1, 2013 1-for-20 Reverse

10-Year Performance Revenue, net income, margins and EPS trends

06
Revenue$13M
2023-12-31 → 2025-12-31
EPS$-14.57
2021-12-31 → 2025-12-31
Free Cash Flow$-103M
2017-12-31 → 2025-12-31
Net margin-548.6%
2023-12-31 → 2025-12-31
Valuation & Ratios 07–12

Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?

Metric 5Y trend TNXP 5Y avg Peer Median Verdict
P/E (TTM) -0.75Y avg ≈-5767.1 ≈-5767.1 · ·
P/S (TTM) 5.15Y avg ≈3229.3 ≈3229.3 6.2 Overvalued
P/B (MRQ) 0.75Y avg ≈105269.0 ≈105269.0 3.2 Undervalued
Price / FCF (TTM) -0.95Y avg ≈-207215.1 ≈-207215.1 · ·
Price / Cash Flow (TTM) -1.05Y avg ≈-304010.4 ≈-304010.4 · ·
Price / Tangible Book (MRQ) 0.75Y avg ≈105342.8 ≈105342.8 · ·

Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.

value · ≈ 5Y avg · industry median · verdict relative to median

Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date

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Avg Surprise -5.2%
Next Report Nov 09, 2026
PeriodReportEPS ActualEPS EstSurprise
June 30, 2026 Aug 10, 2026 $-2.44 $-2.75 11.3%
March 31, 2026 May 11, 2026 $-2.93 $-2.48 -18.0%
Dec. 31, 2025 $-3.98 $-3.25 -22.3%
Sept. 30, 2025 $-3.59 $-3.66 1.8%
June 30, 2025 $-3.86 $-3.28 -17.7%
March 31, 2025 $-2.84 $-3.29 13.8%

Full Fundamentals All metrics by year — income statement, balance sheet, cash flow

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Income Statement 14
Metric Trend 202520242023
Revenue $13M$10M$8M
Cost of Revenue $7M$8M$5M
R&D Expense $44M$40M$87M
SG&A Expense $88M$40M$35M
Operating Expenses $139M$147M$126M
Operating Income $-126M$-137M$-118M
Interest Income $4M$22.0K$2M
Other Non-op $-3M$-867.0K$2M
Net Income $-124M$-130M$-117M
EPS (Basic) $-14.57$-176.60$-14720.25
EPS (Diluted) $-14.57$-176.60$-14720.25
Shares (Basic) 8,511,318736,3397,925
Shares (Diluted) 8,511,318736,3397,925
EBITDA $-124M$-133M$-114M
Balance Sheet 25
Metric Trend 202520242023
Cash & Equivalents $208M$99M$25M
Receivables $6M$4M·
Inventory ·$8M$14M
Prepaid Expense $9M$8M$9M
Other Current Assets ··$2M
Current Assets $229M$119M$48M
PP&E (Net) $44M$42M$94M
PP&E (Gross) $50M$46M$99M
Accum. Depreciation $6M$4M$5M
Goodwill ··$965.0K
Intangibles $120.0K$120.0K$10M
Other Non-current Assets $2M$951.0K$1M
Total Assets $277M$163M$154M
Accounts Payable $8M$5M$4M
Current Liabilities $31M$18M$19M
Capital Leases $1M$358.0K$632.0K
Total Liabilities $32M$23M$49M
Long-term Debt ·$9M$11M
Total Debt ·$7M$9M
Common Stock $13.0K$4.0K·
Retained Earnings $-855M$-731M$-601M
AOCI $-289.0K$-255.0K$-232.0K
Stockholders' Equity $245M$140M$106M
Liabilities + Equity $277M$163M$154M
Shares Outstanding 12,788,0694,385,92920,926
Cash Flow 14
Metric Trend 202520242023
D&A $2M$3M$4M
Stock-based Comp $6M$5M$9M
Amort. of Intangibles $0$500.0K$477.0K
Other Non-cash $16M$61M$1M
Operating Cash Flow $-100M$-61M$-102M
CapEx $3M$120.0K$8M
Investing Cash Flow $-5M$-120.0K$-29M
Net Debt Issued $-10M$-2M·
Stock Issued $238M$140M$19M
Stock Repurchased $14M·$14M
Net Stock Activity $224M$140M$5M
Financing Cash Flow $215M$135M$37M
Net Change in Cash $110M$74M$-95M
Free Cash Flow $-103M$-61M$-110M
Profitability 5
Metric Trend 202520242023
Operating Margin -959.1%-1354.3%-1523.9%
Net Margin -946.2%-1288.2%-1501.8%
EBITDA Margin -944.4%-1320.4%-1468.7%
ROA -56.4%-82.0%-61.4%
ROE -60.0%-121.7%-103.1%
Liquidity & Solvency 4
Metric Trend 202520242023
Current Ratio 7.46.52.5
Quick Ratio 6.95.61.3
Debt / Equity ·0.10.1
LT Debt / Equity ·0.00.1
Efficiency 3
Metric Trend 202520242023
Asset Turnover 0.10.10.0
Inventory Turnover ·0.70.7
Receivables Turnover 2.65.5·
Per Share 5
Metric Trend 202520242023
Book Value / Share $19.17$31.82$1.80
Revenue / Share $1.54$13.71$0.46
Cash Flow / Share $-11.73$-82.74$-5.99
Cash / Share $16.24$22.52$0.43
EPS (TTM) $-14.57$-176.60$-14720.25
Growth Rates 1
Metric Trend 202520242023
Revenue YoY 29.8%29.9%·
Valuation (TTM) 14
Metric Trend 202520242023
Revenue TTM $13M$10M$8M
Net Income TTM $-124M$-130M$-117M
Market Cap $200M$145M$75.03B
Enterprise Value ·$53M$75.01B
P/E -1.1-0.2-0.1
P/S 15.214.39658.4
P/B 0.81.0711.0
P / Tangible Book 0.81.0791.3
P / Cash Flow -2.0-2.4-735.5
P / FCF -1.9-2.4-682.7
EV / EBITDA ·-0.4-657.5
EV / FCF ·-0.9-682.5
EV / Revenue ·5.39656.4
Earnings Yield -93.3%-535.1%-1150.0%

Most recent period on the left · null values shown as ·

Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years

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Metric 2025-12-312024-12-312023-12-312022-12-312021-12-31
Revenue $13M $10M $8M · ·
Operating Margin % -959.1% -1354.3% -1523.9% · ·
Net Income $-124M $-130M $-117M $-110M $-92M
Diluted EPS $-14.57 $-176.60 $-14720.25 $-20.01 $-8.10

Institutional owners (13F) 111 filers · $135.6M total · As of June 30, 2026

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Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.

Holders 111
Value held $135.6M
New positions 29
Exited positions 5
Institutional activity — Q2 2026 vs prior quarter
New positions Exited positions Increased Decreased Net shares change
29 (+8 vs prior Q) 5 (-1 vs prior Q) 54 (+19 vs prior Q) 10 (-6 vs prior Q) +4.7M

Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.

Institution Value Shares % of tracked 13F Type
BlackRock, Inc. $17,839,002 1,398,041 13.15% Shares
Point72 Asset Management, L.P. $14,887,756 1,166,752 10.98% Shares
MILLENNIUM MANAGEMENT LLC $12,338,052 966,932 9.10% Shares
AQR CAPITAL MANAGEMENT LLC $11,261,911 882,595 8.30% Shares
VANGUARD GROUP INC $10,521,710 673,605 7.76% Shares
VANGUARD CAPITAL MANAGEMENT LLC $8,828,580 691,895 6.51% Shares
Jones Hill Capital LP $7,980,461 625,428 5.88% Shares
GEODE CAPITAL MANAGEMENT, LLC $5,044,670 395,260 3.72% Shares
Ishara Investments LP $4,316,070 338,250 3.18% Shares
STATE STREET CORP $3,462,732 271,374 2.55% Shares
UBS Group AG $2,956,262 231,682 2.18% Shares
CITADEL ADVISORS LLC $2,499,161 195,859 1.84% Shares
ESSEX INVESTMENT MANAGEMENT CO LLC $2,107,237 165,144 1.55% Shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP $1,864,236 146,100 1.37% Put option
JANE STREET GROUP, LLC $1,778,744 139,400 1.31% Put option
Balyasny Asset Management L.P. $1,691,861 132,591 1.25% Shares
NORTHERN TRUST CORP $1,536,126 120,386 1.13% Shares
Nuveen, LLC $1,498,624 117,447 1.11% Shares
VANGUARD FIDUCIARY TRUST CO $1,302,209 102,054 0.96% Shares
GOLDMAN SACHS GROUP INC $1,255,023 98,356 0.93% Shares
VANGUARD PORTFOLIO MANAGEMENT LLC $1,249,893 97,954 0.92% Shares
FMR LLC $1,193,714 93,551 0.88% Shares
IEQ CAPITAL, LLC $1,178,679 92,373 0.87% Shares
Susquehanna Portfolio Strategies, LLC $829,706 65,024 0.61% Shares
SUPERSTRING CAPITAL MANAGEMENT LP $812,148 63,648 0.60% Shares
Trexquant Investment LP $811,983 63,635 0.60% Shares
BANK OF AMERICA CORP /DE/ $778,067 60,977 0.57% Shares
JACOBS LEVY EQUITY MANAGEMENT, INC $739,353 57,943 0.55% Shares
PANAGORA ASSET MANAGEMENT INC $723,569 56,706 0.53% Shares
Legato Capital Management LLC $709,711 55,620 0.52% Shares
CHARLES SCHWAB INVESTMENT MANAGEMENT INC $671,342 52,613 0.50% Shares
CITADEL ADVISORS LLC $586,960 46,000 0.43% Call option
CITADEL ADVISORS LLC $576,752 45,200 0.43% Put option
SUSQUEHANNA INTERNATIONAL GROUP, LLP $549,114 43,034 0.40% Shares
Mariner, LLC $532,983 41,770 0.39% Shares
Bank of New York Mellon Corp $532,784 41,754 0.39% Shares
Quarry LP $526,350 41,250 0.39% Shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP $520,608 40,800 0.38% Call option
JANE STREET GROUP, LLC $514,228 40,300 0.38% Call option
Invesco Ltd. $480,937 37,691 0.35% Shares
SEI INVESTMENTS CO $465,383 36,472 0.34% Shares
Cerity Partners LLC $396,506 31,074 0.29% Shares
TWO SIGMA INVESTMENTS, LP $367,641 28,812 0.27% Shares
ALLIANCEBERNSTEIN L.P. $330,413 24,030 0.24% Shares
MERCER GLOBAL ADVISORS INC /ADV $303,918 23,818 0.22% Shares
GREAT LAKES ADVISORS, LLC $303,076 23,752 0.22% Shares
WEALTH ENHANCEMENT ADVISORY SERVICES, LLC $296,698 23,679 0.22% Shares
BRIDGEWAY CAPITAL MANAGEMENT, LLC $255,200 20,000 0.19% Shares
Man Group plc $238,216 18,669 0.18% Shares
RHUMBLINE ADVISERS $222,448 17,434 0.16% Shares

Show all 111 institutional owners →

Activists & 5%+ owners 1 position

18

Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.

Filer Filed Stake Status Purpose Filing
Seth Lederman, Lederman & Co., LLC, L&L Technologies, LLC, Targent Pharmaceuticals, LLC, Leder Laboratories, Inc., Starling Pharmaceuticals, Inc. ×3 filings Feb. 10, 2015 · Initial filing · SEC

Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.

Company insiders 25 insiders · 9 officers · 14 directors

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Insider Role Last activity Shares owned Buys 12m Sells 12m Net 12m
Seth Lederman Chief Executive Officer Aug. 27, 2026 P 11,005 4 0 $372,980
David J Moss PRES, CEO, TRES, CFO, SECR May 5, 2011 P 3,250,000 0 0 $0
Bradley Saenger Chief Financial Officer June 30, 2026 J 2,154 0 0 $0
Leland Gershell Chief Financial Officer Sept. 28, 2015 P 19,260 0 0 $0
Jessica Edgar Morris Chief Operating Officer Feb. 24, 2026 A 0 0 0 $0
Siobhan Fogarty Chief Technology Officer Feb. 24, 2026 A · 0 0 $0
Gregory M Sullivan Chief Medical Officer Feb. 24, 2026 A 0 0 0 $0
Bruce Daugherty Chief Scientific Officer and Secretary June 21, 2016 P 100,000 0 0 $0
Donald J Kellerman Senior Vice President, Clinical Development and Medical Affairs Oct. 29, 2014 A · 0 0 $0
Richard H Bagger Director Aug. 20, 2026 P 1,000 1 0 $12,600
Carolyn E. Taylor Director June 12, 2026 P 1,833 1 0 $14,928
Richard Newcomb Stillwell Director June 8, 2026 P 5,000 1 0 $58,250
James Randolph Hunter Jr Director May 12, 2026 A · 0 0 $0
James Treco Director May 12, 2026 A 250 0 0 $0
Margaret Smith Bell Director May 12, 2026 A 0 0 0 $0
David L Grange Director May 12, 2026 A · 0 0 $0
Adeoye Y Olukotun Director May 12, 2026 A 0 0 0 $0
Ernest Mario Director June 25, 2018 P 50,000 0 0 $0
Charles E Mather IV Director June 12, 2018 A 1,783 0 0 $0
Samuel R Saks Director June 12, 2018 A 3,855 0 0 $0
Stuart Davidson Director June 20, 2017 A 1,490,716 0 0 $0
Daniel Wintner Goodman · May 25, 2021 P 5,001 0 0 $0
John B Rhodes · May 4, 2020 A 23,470 0 0 $0
Donald W Landry · May 6, 2019 A 7,710 0 0 $0
Patrick P Grace · May 6, 2019 A 1,255 0 0 $0

Insiders from SEC Form 3/4/5 filings; net = open-market P/S only

ETF ownership Held by 13 ETFs

20

Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.

Fund Weight Units As of Source
QQQS · Invesco Exchange-Traded Fund Trust … 0.34% 8,456 SH Oct. 2, 2026 Daily
IBRN · iShares Trust 0.21% 1,270 SH Sept. 11, 2026 Daily
IWC · iShares Trust 0.04% 49,940 SH Sept. 11, 2026 Daily
PRFZ · Invesco Exchange-Traded Fund Trust 0.01% 35,620 SH Oct. 2, 2026 Daily
VTWO · VANGUARD SCOTTSDALE FUNDS 0.01% 83,757 SH Aug. 19, 2026 Daily
VTWV · VANGUARD SCOTTSDALE FUNDS 0.01% 12,927 SH Aug. 19, 2026 Daily
IWM · iShares Trust 0.01% 382,760 SH Sept. 11, 2026 Daily
RSSL · Global X Funds 0.00% 6,926 NS July 31, 2026 N-PORT
DFAS · Dimensional ETF Trust 0.00% 4,993 NS July 31, 2026 N-PORT
VXF · VANGUARD INDEX FUNDS 0.00% 187,414 SH Aug. 19, 2026 Daily
VTI · VANGUARD INDEX FUNDS 0.00% 488,108 SH Aug. 19, 2026 Daily
VTHR · VANGUARD SCOTTSDALE FUNDS 0.00% 1,270 SH Aug. 19, 2026 Daily
IWN · iShares Trust · 144,932 SH Sept. 11, 2026 Daily

TNXP Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside

21
rating · 10 analysts BUY
Median target $45.50 +410.7%
3 30.0% Strong Buy
6 60.0% Buy
1 10.0% Hold
0 0.0% Sell
0 0.0% Strong Sell

12-Month Price Target

4 analysts · 2026-09-28

Mean target $44.50 +399.4%

← Below all targets Current price $8.91
Low$22.00 Mean$44.50 High$65.00

Peer comparison (GICS sub-industry) Key metrics vs sector peers

22

FY basis, prices as of each company's last fiscal year-end close.

Ticker Market Cap P/E Rev YoY Net Margin ROE Gross Margin
TNXP $200M -1.1 29.8% -946.2% -60.0% ·
TARA $286M -4.0 · · -33.7% ·
PEPG $448M -3.1 · · -82.0% ·
NERV $174M -0.1 · · 339.5% ·
NBP $1.06B -19.0 · · -21.4% ·
CMPX $958M · · · -45.9% ·
ABOS $128M -1.1 · · -129.4% ·
HUMA · · · · · ·
OTLK $57M -0.6 · -4416.2% 193.1% 4.0%
KRRO $75M -0.6 181.5% -1834.5% -140.8% ·
PMVP $67M -0.8 -40.5% -1226.8% -63.4% ·

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26

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Source: SEC 10-Q filed Aug 10, 2026