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.
News for Tenax Therapeutics, Inc. (TENX) centers on its progress as a Phase 3, development-stage pharmaceutical company focused on cardiopulmonary therapies. The company’s updates highlight the clinical and regulatory path of levosimendan, which it is developing for pulmonary hypertension associated with heart failure with preserved ejection fraction (PH-HFpEF), a form of pulmonary hypertension for which Tenax states no product has been approved.
Investors following TENX news can expect regular coverage of clinical trial milestones, including enrollment updates, design details, and key analyses from the Phase 3 LEVEL and LEVEL‑2 studies of TNX‑103 (oral levosimendan) in PH-HFpEF. Press releases have described the blinded sample size re-estimation in LEVEL, the initiation of the global LEVEL‑2 study, and the company’s plans for an open-label extension study to provide continued access to TNX‑103 for trial participants.
Tenax news also includes intellectual property developments, such as the European Patent Office’s Intention to Grant a patent covering levosimendan and its active metabolites in PH-HFpEF, and Canadian patent progress for multiple levosimendan formulations and combinations with cardiovascular drugs. These items provide context on the company’s efforts to build long-term protection around its lead asset.
In addition, TENX news features financial results and corporate updates, reported through quarterly earnings press releases, as well as participation in healthcare and investor conferences and virtual KOL events focused on PH-HFpEF and levosimendan. For readers tracking the evolution of Tenax’s late-stage cardiopulmonary program, this news feed offers a consolidated view of trial progress, IP status, and corporate communications. Bookmark this page to follow ongoing disclosures related to TENX and its PH-HFpEF development strategy.
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.
Tenax Therapeutics, Inc. (Nasdaq: TENX) announced its presentation and virtual investor meetings at the H.C. Wainwright Global Life Sciences Virtual Conference on March 9-10, 2021. The pre-recorded presentation will be available on-demand starting March 9 at 7:00 A.M. (EST) on their website, tenaxthera.com. Tenax focuses on developing therapeutics for cardio-pulmonary diseases, with rights to levosimendan and plans for a pivotal trial of imatinib. Both drugs target significant unmet medical needs in their respective areas.
Tenax Therapeutics, Inc. (Nasdaq: TENX) announced the appointment of four new board members: June Almenoff, MD, PhD, Michael Davidson, MD, Declan Doogan, MD, and Stuart Rich, MD. CEO Anthony DiTonno expressed enthusiasm for their expertise, which is seen as crucial for advancing the company’s two leading pipeline assets into late-stage clinical testing. These assets include a new formulation of imatinib for pulmonary arterial hypertension and an oral formulation of levosimendan, which has been in-licensed from Orion. The new board members bring extensive experience in biopharma and clinical development.
Tenax Therapeutics, Inc. (Nasdaq: TENX) is set to host an investor conference call on January 21, 2021, discussing its recent acquisition of PH Precision Med, focused on developing imatinib for pulmonary arterial hypertension. The company aims to advance a delayed-release oral formulation of imatinib into a pivotal trial via the 505(b)(2) pathway. Tenax specializes in products targeting cardiovascular and pulmonary diseases and has recently released Phase 2 clinical trial data for levosimendan in treating pulmonary hypertension associated with heart failure.
Tenax Therapeutics, Inc. (Nasdaq: TENX) announced its acquisition of PH Precision Med, a biotech firm developing imatinib for pulmonary arterial hypertension (PAH). Imatinib, now with Orphan Drug Designation from the FDA, is set to enhance Tenax's pipeline as a Phase 3 ready candidate. The company aims to advance a delayed-release oral formulation of imatinib to mitigate side effects. The acquisition includes stock issuances and appoints Dr. Stuart Rich as Chief Medical Officer, enhancing Tenax's expertise in pulmonary hypertension.