Tonix Pharmaceuticals Inc. (NASDAQ:TNXP) shares are down during Tuesday’s premarket session following the company’s recent uplisting to the Nasdaq Global Select Market.
The transition reflects compliance with higher financial and corporate governance standards, potentially enhancing visibility among institutional investors and improving liquidity as the broader market experienced declines.
TNXP Uplisting to Nasdaq Global Select Market
Tonix Pharmaceuticals announced that trading on the Nasdaq Global Select Market commenced on March 3, 2026, under its existing ticker symbol “TNXP.”
The company’s CEO, Seth Lederman, emphasized that this uplisting is a significant milestone, indicating the company's commitment to driving growth and creating shareholder value.
The uplisting may signal to the market that Tonix has achieved financial and operational growth, which could lead to increased trading volumes and better access to institutional investors.
The company is focused on developing treatments for central nervous system and immunology conditions, with its flagship product, TONMYA, being the first new treatment for fibromyalgia in over 15 years.
TNXP Bearish Trend: Below SMA Indicators
Currently, Tonix Pharmaceuticals is trading 9.8% below its 20-day simple moving average (SMA) and 4.1% below its 100-day SMA, indicating a bearish trend in the short to medium term. Over the past 12 months, shares have decreased significantly and are positioned closer to their 52-week lows than highs, reflecting ongoing challenges in the stock’s performance.
The RSI is at 44.45, which is considered neutral territory, suggesting that the stock is neither overbought nor oversold at this time. Meanwhile, MACD is at 0.15, below its signal line at 0.22, indicating bearish pressure on the stock.
The combination of neutral RSI and bearish MACD suggests mixed momentum in the stock’s performance.
- Key Resistance: $15.00
- Key Support: $12.50
TNXP Price Action: Tonix Pharmaceuticals shares were down 2% at $13.70 during premarket trading on Tuesday, according to Benzinga Pro data.
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