Welcome to our dedicated page for TENAX THERAPEUTICS SEC filings (Ticker: TENX), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
Tenax Therapeutics filings document a Phase 3, development-stage pharmaceutical company developing cardiopulmonary therapies, including TNX-103 (oral levosimendan) for PH-HFpEF. Recent 8-K reports record financial results, clinical program updates for LEVEL and LEVEL-2, intellectual-property notices, and amendments to levosimendan license rights, including expanded worldwide rights for orally administered products.
Proxy and current-report filings also describe Nasdaq-listed common stock, executive appointments, employment and compensation arrangements, equity awards, governance matters, and named-executive pay disclosures. These records frame the company's capital structure, leadership responsibilities, material agreements, and clinical-stage operations around levosimendan development and commercialization rights.
Tenax Therapeutics reported a larger net loss as it ramps Phase 3 development of levosimendan for pulmonary hypertension. For the three months ended March 31, 2026, net loss was $15.7 million versus $10.4 million a year earlier, driven mainly by higher research and development spending.
Research and development expenses more than doubled to $11.5 million, reflecting the ongoing Phase 3 LEVEL trial and the newer global LEVEL-2 trial. General and administrative costs declined slightly to $5.0 million as stock-based compensation fell.
Tenax ended the quarter with $118.8 million in cash and cash equivalents and working capital of $114.7 million, helped by $30.5 million of cash from warrant and pre-funded warrant exercises in the period. Management believes this liquidity, plus $7.9 million of post-quarter warrant exercise proceeds, can fund planned operations through at least the first quarter of 2028 while the company advances its late-stage cardiopulmonary pipeline.
Tenax Therapeutics reported a first quarter 2026 net loss of $15.7 million, wider than the $10.4 million loss a year earlier, as it increased investment in late-stage clinical trials.
Cash and cash equivalents were $118.8 million as of March 31, 2026, up from $97.6 million on December 31, 2025, and the company now expects its cash to last through at least the first quarter of 2028. Research and development spending rose to $11.5 million from $5.7 million, mainly to support the Phase 3 LEVEL and LEVEL-2 studies of TNX-103. General and administrative expenses declined slightly to $5.0 million from $5.7 million.
Tenax completed randomization of more than 230 patients in the Phase 3 LEVEL trial and plans to report topline data in the third quarter of 2026. Enrollment is ongoing in the global LEVEL-2 Phase 3 trial, with completion anticipated by the end of 2027. The company also strengthened its leadership team by appointing Thomas Staab as Chief Financial Officer and Timothy Healey, MBA, as Chief Commercial Officer.
Tenax Therapeutics, Inc. Schedule 13G/A amendment reports beneficial ownership stakes by Integrated Core Strategies (US) LLC, Millennium Management LLC, Millennium Group Management LLC and Israel A. Englander. The filing lists 448,475 shares (1.7%) attributed to Integrated Core Strategies and 533,889 shares (2.1%) attributed to each of Millennium Management LLC, Millennium Group Management LLC and Israel A. Englander.
The filing states these shares are held by entities subject to voting control and investment discretion by Millennium Management LLC and related managers, and includes a Joint Filing Agreement dated May 7, 2026.
T. Rowe Price Associates, Inc. amended its Schedule 13G to report beneficial ownership of 2,841,114 shares of Tenax Therapeutics common stock, representing 11.0% of the class. The filing states Price Associates has sole voting and dispositive power over those shares and that T. Rowe Price Health Sciences Fund holds 2,381,762 shares (9.2%). The filer affirms this report reflects holdings managed as investment adviser and denies being the beneficial owner in a personal capacity.
T. Rowe Price Associates, Inc. reported beneficial ownership of 2,951,116 shares of Tenax Therapeutics common stock, representing 17.2% of the class. The filing names CUSIP 88032L605 and states sole voting and dispositive power over the 2,951,116 shares. The T. Rowe Price Health Sciences Fund is disclosed with an interest in 2,543,505 shares (14.8%). The filing clarifies that Price Associates disclaims beneficial ownership and holds the securities as investment adviser for clients.
Invus Public Equities and affiliated reporting persons disclosed beneficial ownership of Tenax Therapeutics common stock. Invus Public Equities directly held 366,143 shares and Avicenna Life Sci Master Fund directly held 60,998 shares as of March 31, 2026. Calculations use 17,197,613 shares outstanding as of March 6, 2026, producing reported stakes of 2.1% for Invus-related holders and 0.4% for Avicenna. The filing states these holdings were not acquired to change or influence control and that the persons listed may be deemed beneficial owners through control relationships among the entities.
Tenax Therapeutics, Inc. has called its Annual Meeting of Stockholders for June 2, 2026 at 9:00 a.m. Eastern Time at its Chapel Hill, North Carolina headquarters. Stockholders of record as of April 8, 2026, when 25,775,500 common shares were outstanding, may vote.
Investors will elect seven directors for one-year terms and vote on ratifying Cherry Bekaert LLP as independent registered public accounting firm for the year ending December 31, 2026. The Board states that all director nominees are recommended for election and unanimously recommends a “FOR” vote on the auditor ratification.
The proxy explains in detail how to vote by Internet, telephone, mail, or in person, describes quorum and broker non-vote treatment, and outlines board structure, committee composition, independence determinations, and executive pay, including salary, bonuses, and significant stock option awards for the CEO and other named executives.
Tenax Therapeutics is appointing Thomas R. Staab, II as Chief Financial Officer effective May 11, 2026, replacing interim CFO Thomas McGauley after the company files its Quarterly Report for the quarter ended March 31, 2026. Mr. McGauley will continue as a consultant through at least the end of May 2026.
Under an executive employment agreement, Mr. Staab will receive a $428,000 annual base salary and a target bonus equal to 45% of salary, plus inducement equity awards of 10,000 restricted stock units and options to purchase 450,000 shares of common stock, with multi‑year vesting and severance protections of nine to twelve months’ salary, bonus and COBRA reimbursements depending on termination circumstances.
TENAX THERAPEUTICS, Inc. Schedule 13G/A amendment shows Morgan Stanley reporting combined operating units with shared voting and dispositive power in the low hundreds of thousands of shares and ownership below 5%.
The filing lists Morgan Stanley with shared voting power 592,504 and shared dispositive power 596,564 (reported 3.5%), and Morgan Stanley Capital Services LLC with shared voting and dispositive power 583,297 (reported 3.4%). The filing states both entities have ceased to be beneficial owners of more than five percent of the class. Signatures are dated 04/08/2026.