Welcome to our dedicated page for Tenax Therapeutics news (Ticker: TENX), a resource for investors and traders seeking the latest updates and insights on Tenax Therapeutics stock.
Tenax Therapeutics Inc (TENX) is a clinical-stage pharmaceutical company developing therapies for cardiovascular and pulmonary diseases with high unmet needs. This page provides official updates on clinical trials, regulatory milestones, and corporate developments.
Investors and researchers will find a centralized repository of press releases and verified news related to Tenax's lead candidate levosimendan, including progress on the Phase 3 LEVEL study for PH-HFpEF. Track updates on intellectual property expansions, partnership announcements, and scientific presentations.
All content is curated to meet investor needs for timely, accurate information on drug development progress. Bookmark this page for direct access to primary source materials from Tenax Therapeutics, without promotional commentary or speculative analysis.
Tenax Therapeutics (Nasdaq: TENX) has secured an oversubscribed $100 million private placement led by BVF Partners LP and other prominent investors. The financing includes 1,450,661 shares of common stock and pre-funded warrants for 31,882,671 shares, along with warrants for 16,666,666 additional shares. Priced at $3.00 per share, the deal is expected to close on August 8, 2024.
The funds will support Tenax's ongoing Phase 3 LEVEL trial for levosimendan in PH-HFpEF patients, initiate a second Phase 3 trial, and cover general corporate expenses. This financing is projected to fund operations through 2027. Leerink Partners leads the placement, with Guggenheim Securities and William Blair as joint agents.
Tenax Therapeutics (Nasdaq: TENX) has reported its Q1 2024 financial results and provided a corporate update. Key highlights include continuing patient enrollment in the Phase 3 LEVEL study with 24 investigative sites initiated and securing global development and commercial rights for levosimendan for PH-HFpEF treatment. A new US patent was granted, expanding their intellectual property estate. In February 2024, Tenax raised approximately $8 million in a public offering. Financially, the company reported a net loss of $3.8 million for Q1 2024, compared to $1.4 million for the same period in 2023, with cash and equivalents at $12.5 million as of March 31, 2024.
Tenax Therapeutics, Inc. announced a new U.S. patent covering the use of levosimendan in Pulmonary Hypertension with Heart Failure with Preserved Ejection Fraction (PH-HFpEF) until December 2040. The patent broadens protection for oral, IV, and subcutaneous use of levosimendan, and its active metabolites, also allowing for additional U.S. patent term extension. This patent is the third granted to Tenax since March 2023, protecting the use of levosimendan in treating PH-HFpEF.
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