Tenax Therapeutics (TENX) Stock News

Tenax Therapeutics (NASDAQ: TENX) reported its Q2 2021 financial results and highlighted progress in its clinical programs for pulmonary diseases. The company is advancing its imatinib program, which aims to improve treatment for pulmonary arterial hypertension, and the levosimendan study targeting pulmonary hypertension associated with left heart failure. Recent activities include a KOL webinar discussing levosimendan's potential and a publication regarding its mechanism of action. Financially, Tenax reported a net loss of $1.7 million, with $2.2 million in cash as of June 30, 2021. Following a recent equity offering, they anticipate sufficient funds through Q2 2022.

Tenax Therapeutics (Nasdaq: TENX) announced a significant publication about levosimendan, detailing its mechanism of action that improves cardiovascular hemodynamics in pulmonary hypertension and heart failure with preserved ejection fraction (PH-HFpEF). The publication reveals that levosimendan reduces stressed blood volume, leading to lower pulmonary wedge pressure and central venous pressure without inotropic effects. This positions levosimendan as the first therapy to enhance exercise capacity in PH-HFpEF. A Phase III study is expected to start in the first half of 2022.

Tenax Therapeutics, Inc. (Nasdaq: TENX) announced a KOL webinar on Levosimendan for treating pulmonary hypertension with heart failure with preserved ejection fraction (PH-HFpEF) scheduled for August 16, 2021. KOL Daniel Burkhoff, M.D., Ph.D., will discuss treatment gaps and the potential of Levosimendan as a new therapy. Tenax's Chief Medical Officer, Stuart Rich, M.D., will outline the clinical development plan for Levosimendan, emphasizing its role as a first-in-class K-ATP activator. The event will include a Q&A session. Levosimendan has already shown potential benefits in clinical settings.

Tenax Therapeutics, Inc. (Nasdaq: TENX) announced a CEO transition with Anthony A. DiTonno retiring on July 13, 2021, after a decade of service. Christopher T. Giordano has been appointed as the new CEO, effective July 14, 2021. The company also secured a deal for selling 4,773,269 Units at $2.095 each, expecting gross proceeds of approximately $10 million. The Units consist of unregistered pre-funded and regular warrants to purchase common stock, with an aggregate of 9,546,538 underlying shares. This financing aims to enhance shareholder value through product development in cardiovascular and pulmonary diseases.

Tenax Therapeutics, Inc. (Nasdaq: TENX) will join the Russell Microcap® Index effective June 28, following the annual reconstitution. This inclusion increases visibility among institutional investors and aligns with the company’s growth strategy, as it advances its two lead drug programs, imatinib and levosimendan, towards Phase 3 trials. The Russell Microcap Index is widely recognized, with approximately $10.6 trillion in assets benchmarked to it, indicating significant attention for Tenax as it aims to address cardiovascular and pulmonary diseases.

Tenax Therapeutics (Nasdaq: TENX) reported its Q1 2021 financial results and business updates, highlighting its merger with PHPrecisionMed Inc. This merger enhances its portfolio for pulmonary hypertension treatments, targeting over 70% of the market. The transition to an oral formulation of Levosimendan is underway, potentially improving patient convenience. R&D expenses surged to $22.4 million due to the acquisition, resulting in a net loss of $23.7 million, or $1.64 per share. As of March 31, 2021, cash reserves stand at $4.0 million, expected to sustain operations until Q3 2021.

Tenax Therapeutics, Inc. (Nasdaq: TENX) has released positive results from its Phase 2 HELP Study, evaluating levosimendan for pulmonary hypertension and heart failure with preserved ejection fraction (PH-HFpEF). The study showed an 84% responder rate in the open-label phase, although levosimendan did not significantly reduce exercise-PCWP compared to placebo. Notably, it improved the six-minute walk distance by 29.3 meters compared to placebo (p=0.033). The publication emphasizes the need for further studies on levosimendan, which demonstrates potential as a treatment for this severe condition.

Tenax Therapeutics (Nasdaq: TENX) announces the voluntary retirements of Ronald R. Blanck, D.O., Gregory Pepin, and Chris A. Rallis from its Board of Directors, effective June 10, 2021. This decision is part of a Board refreshment program, introducing four new directors earlier this year. Dr. Blanck, who served since 2009, will be succeeded by Gerald Proehl as Chairman. The Board will be reduced from 12 to 9 members post-retirement. Tenax focuses on developing treatments for cardiovascular and pulmonary diseases and owns North American rights to levosimendan, aimed at addressing high unmet medical needs.

Tenax Therapeutics, Inc. (Nasdaq: TENX) reported its financial results for the year ended December 31, 2020, revealing a net loss of $9.9 million ($1.33 per share), up from $8.4 million ($1.35 per share) in 2019. Research and development expenses increased to $4.6 million from $3.5 million, while general and administrative expenses rose to $5.3 million from $5.1 million. The completion of the merger with PH Precision Medicine has expanded Tenax's pipeline, including the acquisition of oral formulation rights for Levosimendan. The company aims to advance its leading candidates into late-stage clinical trials.