TNXP PDUFA decision: a negative outcome, -13.8%

On August 15, 2025, Tonix Pharmaceuticals Holding Corp. reached its PDUFA decision. The result was a negative outcome, and the stock moved -13.8% in the window around the event. It had already run +32.6% in the 30 days into the catalyst — the kind of pre-event run-up that often precedes binary readouts.