(1) Cup-Handle pattern formation on the daily chart
(2) On February 09, 2021 company announced the closing of its previously announced registered direct offering, priced at-the-market, with gross proceeds of approximately $70.0 million.
(3) On March 04, 2021 company announced that it has regained compliance with the minimum bid price requirement for continued listing on The Nasdaq Global Market.
(4) On March 15, 2021 company announced that 50 percent of the planned total number of participants have been randomized in the Phase 3 RALLY study (TNX-CY-F306) for the management of fibromyalgia.
(5) On March 17, 2021 company announced preliminary results following vaccination of non-human primates with TNX-1800 (modified horsepox virus, live vaccine), a live attenuated COVID-19 vaccine candidate engineered to express the SARS-CoV-2 (CoV-2) spike protein.
A bullish flag formed on the 5min chart on 03/17 so we can expect continued upward momentum into the week's close.
Price Target of $6.00 by end of Q2.
Disclaimer: This written/visual material is comprised of personal opinions and ideas.