Tonix Pharmaceuticals Holding Investor Presentation — February 2020

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© 2020 Tonix Pharmaceuticals Holding Corp.1

Version P0221 2-8 -20 (Doc 0598)Investor Presentation

© 2020 Tonix Pharmaceuticals Holding Corp.2Cautionary Note on Forward -Looking Statements

Certain statements inthispresentation regarding strategic plans, expectations andobjectives forfuture

operations orresults are“forward -looking statements” asdefined bythePrivate Securities Litigation Reform

Actof1995.These statements may beidentified bytheuseofforward -looking words such as“anticipate,”

“believe,” “forecast,” “estimate” and“intend,” among others .These forward -looking statements arebased on

Tonix’s current expectations andactual results could differ materially .There areanumber offactors that

could cause actual events todiffer materially from those indicated bysuch forward -looking statements. These

factors include, butarenotlimited to,risks related tofailure toobtain U.S.Food andDrug Administration

clearances orapprovals andnoncompliance withitsregulations ;ourneed foradditional financing ;substantial

competition ;uncertainties ofpatent protection andlitigation ;uncertainties ofgovernment orthird party payor

reimbursement ;limited research anddevelopment efforts anddependence upon third parties .Aswithany

pharmaceutical under development, there aresignificant risks inthedevelopment, regulatory approval and

commercialization ofnewproducts .Theforward -looking statements inthispresentation aremade asofthe

date ofthispresentation, even ifsubsequently made available byTonix onitswebsite orotherwise .Tonix

does notundertake anobligation toupdate orrevise anyforward -looking statement, except asrequired by

law.Investors should read theriskfactors setforth intheAnnual Report onForm 10-Kfortheyear ended

December 31,2018, asfiledwiththeSecurities andExchange Commission (the“SEC”) onMarch 18,2019,

andperiodic reports andcurrent reports filedwiththeSEConorafter thedatethereof .AllofTonix's forward -

looking statements areexpressly qualified byallsuch riskfactors andother cautionary statements .© 2020 Tonix Pharmaceuticals Holding Corp.3Tonix Pharmaceuticals: Lead Program

In Phase 3 clinical development of TNX -102 SL1for Fibromyalgia

•Chronic pain condition

Fibromyalgia milestones ( Phase 3 RELIEF study ):

•3rdQuarter 2020 -Interim analysis results expected

•1stHalf 2021 -Topline data expected

1 TNX-102 SL (cyclobenzaprine HCl sublingual tablets) is an investigational new drug and has not been approved for any indication© 2020 Tonix Pharmaceuticals Holding Corp.4CNS Candidates in Clinical Development