Going through my Silly Season watchlist and the most interesting stock on it right now is $TNXP. I'm flipping back and forth now between watching my holdings and drilling down on $TNXP. That picture is the Silly Season list, not my holdings. I own no $TNXP.

First thing to determine from the recent 10Q is that share count has gone from 8.5M at the end of 2019 to 104M at the end of June (and 130M now per earnings PR). $TNXP has never been shy about raising cash with secondaries, often on highly unfavorable terms to existing holders.

Looking back on the chart 6 months we see two spikes, one in February when $TNXP first announced plans to develop a COVID vaccine and then in July after they announced a research collaboration with Columbia. In between share price declines dramatically due to heavy ATM selling.

Initial data from ongoing animal studies of the COVID vaccine is expected in Q4. Given past experience with $TNXP and its retail followers I think there's a 95% chance that PR will be positive and the stock will spike. It's hard not to find any positive data from animal studies.

$TNXP may have used up all of its ATM with AGP by now but that's not necessarily a good thing. They are always hungry for money and may announce another below market dilution before the next spike. Nevertheless it is interesting to see the share price back at 0.90.

The most recent spike came at the low 0.60's so $TNXP might not be done dropping. I'll keep watching for a while and consider a half position if the stock stabilizes under 0.8 eventually. I'll add if the stock drops on a financing or they get into November without one.

$TNXP also has interim and topline data from p3 of a bullshit fibromyalgia drug later this year but I don't think anyone cares since it failed multiple times going back to 2014. If that trial fails the interim or final it could be a good chance to add ahead of vaccine news.

Make no mistake, I am quite sure $TNXP will never get any drug or vaccine approved for anything, ever. This thread is all about speculation and making a quick profit from the greed and confusion of the masses.