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Tonix Pharmaceuticals Holding Corp Spline ILLIQ Liquidity Analysis

Liquidity prediction for Monday, July 20th, 2026

1 Day

5,971.86

decreased by 67.59

1 Week

5,605.54

decreased by 433.91

1 Month

4,448.24

decreased by 1,591.21

Analysis last updated: Friday, July 17, 2026 at 09:32 PM UTC

Date Range:

from

to

6M ·

1Y ·

2Y ·

5Y ·

10Y ·

All

graph of Tonix Pharmaceuticals Holding Corp ILLIQ-SMEM

News Impact Curve

How returns affect tomorrow's liquidity

Liquidity Forecast

How liquidity evolves over time

Parameter Estimates

May 16, 2012 to Jul 17, 2026

Model Insight

With persistence 0.998, illiquidity shocks have a half-life of 279 trading days (~1.1 years), close to a unit root, so long-run forecasts are highly sensitive to this estimate.

μ

ILLIQ-SMEM Model

Tap to view equation

ParameterValuet-statistic
ω

const

Unconditional variance weight

1.4115
3.22***
α

ARCH

Response to squared shocks

0.2026
17.85***
β

GARCH

Volatility persistence

0.7950
70.59***
γi Spline Coefficients
K=1
γ10.0020
0.22

Persistence:

0.998

Half-life:

279 days