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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, Inc. is a Phase 3, development-stage pharmaceutical company focused on cardiopulmonary therapies, prioritizing oral levosimendan for pulmonary hypertension in heart failure with preserved ejection fraction. Two Phase 3 trials, LEVEL and global LEVEL-2, are underway, with LEVEL topline data expected in August 2026.
For the quarter ended June 30, 2026, Tenax reported a net loss of $17.8 million, and a six‑month net loss of $33.5 million, driven mainly by higher research and development spending as Phase 3 activities expanded. Six‑month R&D expenses rose to $24.4 million, while selling, general and administrative costs were $11.0 million.
Cash and cash equivalents were $118.0 million at June 30, 2026, plus $8.1 million received from warrant exercises after quarter end, and management states this should fund planned operations through the second quarter of 2028. Tenax also amended its Orion levosimendan license, extending the U.S. regulatory approval deadline to December 31, 2035 and updating milestones and supply terms.
Tenax Therapeutics reported second quarter 2026 results, posting a net loss of $17.8 million ($0.35 per share) as late‑stage development spending increased. Research and development expenses were $12.9 million and selling, general and administrative expenses were $5.9 million for the quarter.
The company held $118.0 million in cash and cash equivalents as of June 30, 2026, including $13.4 million of warrant‑exercise proceeds, and expects this to fund operations through the second quarter of 2028. Tenax also reported progress on oral levosimendan (TNX‑103) for PH‑HFpEF, expecting Phase 3 LEVEL topline data in August 2026 and planning to complete enrollment in the second Phase 3 trial, LEVEL‑2, by the end of 2027.
BlackRock, Inc. has reported a significant institutional position in Tenax Therapeutics Inc. common stock. BlackRock beneficially owns 1,708,335 shares of Tenax, representing 6.4% of the outstanding class as disclosed under a beneficial ownership report.
BlackRock holds sole voting power over 1,688,800 shares and sole dispositive power over 1,708,335 shares, with no shared voting or dispositive power. Various underlying clients and investors have rights to dividends or sale proceeds, but no single person has more than five percent of Tenax’s outstanding common shares.
Tenax Therapeutics, Inc. received an updated ownership report from Millennium Management LLC, Millennium Group Management LLC and Israel A. Englander via Amendment No. 1 to a Schedule 13G. The reporting group discloses beneficial ownership of 876,230 shares of Tenax common stock, representing 3.3% of the class.
The shares are reported with shared voting and dispositive power and no sole voting or dispositive power. The filing notes that the securities are held by entities over which the Millennium entities and Mr. Englander have voting control and investment discretion, and it states that this should not, by itself, be construed as an admission of beneficial ownership. The group confirms ownership of 5 percent or less of the class.
Tenax Therapeutics, Inc. CEO Christopher Thomas Giordano exercised stock options on July 13, 2026 to acquire 8,719 common shares, including 8,500 shares at $5.94 per share and 219 shares at $3.549 per share. The aggregate exercise price for these options was paid in cash.
After the exercises, he directly owned 11,324 and 2,824 common shares in the reported accounts and continued to hold stock options covering 1,400,000 shares at a $5.89 exercise price and 450,000 shares at a $13.30 exercise price, with vesting schedules extending over several years and expirations in 2035 and 2036.
TENAX THERAPEUTICS INC reports that FMR LLC beneficially owns 3,942,373 shares of Common Stock, representing 14.9% of the class as of 06/30/2026. The filing states the shares are held with sole dispositive power and identifies Abigail P. Johnson in a related capacity.
Tenax Therapeutics, Inc. filed an update stating that results from its Phase 3 LEVEL clinical trial of TNX-103 (oral levosimendan) in pulmonary hypertension in heart failure with preserved ejection fraction will be presented in a Late-Breaking Clinical Science session at the European Society of Cardiology Congress 2026 in Munich.
The company now plans to report topline LEVEL data in August 2026 and is moving toward database lock and statistical analysis in the coming weeks. The registrational trial enrolled over 230 patients in the United States and Canada and is powered at well over 90% to detect a 25-meter change in 6-minute walk distance, its primary endpoint.
Tenax Therapeutics, Inc. entered into a new Supply Agreement with Orion Corporation giving Orion responsibility for manufacturing and supplying Tenax’s orally administered levosimendan product for development and, if approved, commercial use. The agreement covers forecasting, ordering, delivery, pricing, quality and cost-sharing for manufacturing scale-up.
The Supply Agreement runs for an initial five-year term from first delivery of product, with automatic three-year renewals unless either party gives 24 months’ written notice. It may be terminated for material breach after a 60-day cure period, insolvency or termination of the related License Agreement.
Concurrently, Tenax and Orion signed a Sixth Amendment to their existing License Agreement. This extends to December 31, 2035 the deadline to obtain U.S. regulatory approval for the product before a termination right based on missing that milestone becomes effective and adds information and cybersecurity requirements for Tenax, while leaving other license terms unchanged.
Tenax Therapeutics updated its executive employment agreements and adopted new company-wide severance and change in control plans. The Board approved amendments for Christopher Giordano, Thomas Staab, and Stuart Rich that align their severance and equity vesting protections with the new plans.
Outside a change in control, each executive may receive 12 months of base salary plus up to 12 additional months based on tenure, a pro-rated target bonus, and 12 months of COBRA reimbursements, with full equity acceleration for Dr. Rich. If a qualifying termination occurs from three months before to 12 months after a change in control, Mr. Giordano can receive 18 months of salary and COBRA reimbursements, while all three receive at least 12 months of salary, a full target bonus, and accelerated vesting.
The company also adopted a Change in Control Plan offering double-trigger equity acceleration and cash severance, and a Severance Plan for terminations without cause, both for eligible employees other than executive officers and conditioned on a release of claims.
T. Rowe Price Associates files an amended Schedule 13G reporting beneficial ownership of 586,990 shares of Tenax Therapeutics common stock. The filing states this represents 2.2% of the class and lists sole voting and sole dispositive power over those shares. The cover shows 05/31/2026 and the amendment is signed on 06/05/2026.
The filing is marked under the heading "Ownership of 5 Percent or Less of a Class," and includes a statement denying that the filer is the beneficial owner. No transaction price, acquisition date, or purchase method is disclosed in the excerpt.