Decisions regarding potential reverse stock splits for Tonix Pharmaceuticals rest entirely with the board of directors and require shareholder authorization to maintain compliance with minimum bid price rules mandated by the Nasdaq stock exchange. Small-cap biotechnology firms frequently utilize reverse stock splits as a structural mechanism to consolidate shares, elevate per-share trading values, and safeguard their exchange listing status when prolonged market downturns depress equity prices. Official corporate proxy statements and investor relations filings provide advance notice if such capital restructuring actions are formally proposed.