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Tenax Therapeutics, Inc.

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Tenax Therapeutics, Inc.

TENX·NASDAQ·Life Sciences·CIK 0000034956

Tenax Therapeutics is a Phase 3, development-stage pharmaceutical company focused on developing new cardiopulmonary therapies. The company uses a drug development approach guided by clinicians, including key opinion leaders and heart failure experts, to target disease mechanisms. Tenax Therapeutics is actively conducting the LEVEL and LEVEL-2 clinical trials to evaluate levosimendan as its primary product candidate. The company has reduced focus on a Phase 3 clinical trial for imatinib. Both levosimendan and imatinib have been approved for other uses and prescribed globally for over 20 years. The company believes their mechanisms of action are suitable for treating pulmonary hypertension. In March 2025, Tenax Therapeutics completed a private placement financing, raising gross proceeds of $25.0 million. These proceeds, along with approximately $100.0 million raised in August 2024, are intended to advance the Phase 3 oral levosimendan program. Specifically, the company plans to complete the ongoing Phase 3 LEVEL study of TNX-103 in pulmonary hypertension in heart failure with preserved ejection fraction (PH-HFpEF). It also plans to advance the second global Phase 3 study, LEVEL-2, which started in December 2025. After completing the two Phase 3 levosimendan trials, the company intends to submit marketing authorization applications. An application for imatinib is also planned after a single Phase 3 trial, when appropriate. The company was originally formed in 1967 as Rudmer, David & Associates, Inc., and later changed its name to Synthetic Blood International, Inc.

Tenax Therapeutics, Inc. (NASDAQ:TENX) is a publicly traded company in the Life Sciences sector. Wiseek has independently scored 26 items for TENX at importance 7 or higher on its 1–10 market-impact scale. Its most recent item scored 7 or higher is dated 2026-10-21, rated 7/10. Across its 20 most recent items scored 7 or higher, the top rating is 10/10, with 12 rated 8 or above. Recent SEC coverage for TENX spans 4, 8-K, 10-Q.

Recent high-impact activity:

  • ADAR1 Adds 922,849 Tenax Shares for $1.46M, Lifting Stake to 7.45M
  • Tenax Pauses LEVEL-2 Enrollment to Amend Protocol After LEVEL Data
  • Tenax LEVEL Trial Full Data: 49% NT-proBNP Cut and +26.3m 6MWD in Sicker Patients Reshape LEVEL-2
  • 10% Owner ADAR1 Capital Adds $1.6M More Tenax Stock After Phase 3 Miss
  • 10% Owner ADAR1 Capital Adds $1.38M More Tenax Stock After Phase 3 Miss

Financial Snapshot

Fiscal year ended December 31, 2025
Revenue
$0
Net Income
-$52.6M
Diluted EPS
-$1.34
Op. Cash Flow
-$35.8M
Operating Income
-$56.38M
Cash & Equivalents
$97.6M
Debt / Equity
0.00×
Shares Outstanding
9.31M sh
Source: 10-K · filed 2026-03-10 · accession 0001193125-26-099393

Short Interest & Short Volume

3.22 days to cover

FINRA reported short interest of 7,229,252 shares in TENX as of the October 15, 2026 settlement, a 0.7% increase from the prior period — about 3.2 days to cover at its recent average daily volume. On November 2, 2026, 64.1% of TENX volume reported to FINRA trade-reporting facilities was marked short.

Short interest (bi-monthly positions)7,229,252 shares as of October 15, 2026
Change vs prior period▲ 0.7%
Days to cover3.22 at avg daily volume of 2,246,910
Daily short volume (FINRA facilities)64.1% of 646,851 shares on November 2, 2026
5-day average short volume48.8%

Daily short sale volume covers trades reported to FINRA trade-reporting facilities and is not the same as short interest (bi-monthly reported positions). Source: FINRA — FINRA is the owner and source of this short interest and short sale volume data; it may not be redistributed.

Dilution Risk

Low risk

Filing-implied dilution signals for TENX, detected from its recent SEC filings · based on capital-structure filings through 2026-05-12.

Extended Cash Runway · Q1 2026 Financial Results

A filing-implied signal, not a realized share count. How Wiseek tracks dilution →

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$1.8
52-week range · as of 2026-10-21 $1.31 – $19.4
Market cap
$67.36M
Volume
1.2M (0.5× avg)
3-mo avg 2.2M
Live data · 2026-11-03 04:58 UTC · Market overnight

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feed TENX - Latest Insights

TENX
Oct 21, 2026, 4:49 PM EDT
Filing Type: 4
Importance Score:
7
Price at Filing: $1.63
Real-time Price: $1.80 info
Change: +$0.170 (+10%) info
Market Cap: $67.363M info
TENX
Oct 08, 2026, 4:15 PM EDT
Filing Type: 8-K
Importance Score:
7
Price at Filing: $1.85
Real-time Price: $1.80 info
Change: -$0.050 (-3%) info
Market Cap: $67.363M info
TENX
Sep 09, 2026, 8:00 AM EDT
Filing Type: 8-K
Importance Score:
8
Price at Filing: $2.08
Real-time Price: $1.80 info
Change: -$0.2831 (-14%) info
Market Cap: $67.363M info
TENX
Sep 08, 2026, 5:16 PM EDT
Filing Type: 4
Importance Score:
8
Price at Filing: $2.02
Real-time Price: $1.80 info
Change: -$0.2199 (-11%) info
Market Cap: $67.363M info
TENX
Sep 02, 2026, 5:52 PM EDT
Filing Type: 4
Importance Score:
7
Price at Filing: $1.84
Real-time Price: $1.80 info
Change: -$0.040 (-2%) info
Market Cap: $67.363M info
TENX
Aug 24, 2026, 6:12 PM EDT
Filing Type: 4
Importance Score:
8
Price at Filing: $1.90
Real-time Price: $1.80 info
Change: -$0.100 (-5%) info
Market Cap: $67.363M info
TENX
Aug 10, 2026, 7:37 AM EDT
Source: Dow Jones Newswires
Importance Score:
10
Price at Filing: $2.03
Real-time Price: $1.80 info
Change: -$0.230 (-11%) info
Market Cap: $67.363M info
TENX
Aug 10, 2026, 7:19 AM EDT
Filing Type: 8-K
Importance Score:
9
Price at Filing: $2.27
Real-time Price: $1.80 info
Change: -$0.4703 (-21%) info
Market Cap: $67.363M info
TENX
Jul 31, 2026, 11:25 AM EDT
Filing Type: 10-Q
Importance Score:
8
Price at Filing: $14.65
Real-time Price: $1.80 info
Change: -$12.85 (-88%) info
Market Cap: $67.363M info
TENX
Jul 31, 2026, 7:23 AM EDT
Filing Type: 8-K
Importance Score:
7
Price at Filing: $15.10
Real-time Price: $1.80 info
Change: -$13.30 (-88%) info
Market Cap: $67.363M info
TENX
Jul 31, 2026, 7:08 AM EDT
Source: Reuters
Importance Score:
7
Price at Filing: $15.10
Real-time Price: $1.80 info
Change: -$13.30 (-88%) info
Market Cap: $67.363M info
TENX
Jul 02, 2026, 8:00 AM EDT
Filing Type: 8-K
Importance Score:
8
Price at Filing: $15.05
Real-time Price: $1.80 info
Change: -$13.25 (-88%) info
Market Cap: $67.363M info
TENX
Jul 02, 2026, 7:00 AM EDT
Source: GlobeNewswire
Importance Score:
8
Price at Filing: $13.98
Real-time Price: $1.80 info
Change: -$12.18 (-87%) info
Market Cap: $67.363M info
TENX
Jun 30, 2026, 4:33 PM EDT
Source: Wiseek News
Importance Score:
8
Price at Filing: $14.27
Real-time Price: $1.80 info
Change: -$12.47 (-87%) info
Market Cap: $67.363M info
TENX
Jun 30, 2026, 4:30 PM EDT
Filing Type: 8-K
Importance Score:
8
Price at Filing: $14.27
Real-time Price: $1.80 info
Change: -$12.47 (-87%) info
Market Cap: $67.363M info
TENX
Jun 29, 2026, 4:43 PM EDT
Source: Wiseek News
Importance Score:
7
Price at Filing: $13.50
Real-time Price: $1.80 info
Change: -$11.70 (-87%) info
Market Cap: $67.363M info
TENX
Jun 29, 2026, 4:40 PM EDT
Filing Type: 8-K
Importance Score:
7
Price at Filing: $13.50
Real-time Price: $1.80 info
Change: -$11.70 (-87%) info
Market Cap: $67.363M info
TENX
May 12, 2026, 4:06 PM EDT
Filing Type: 10-Q
Importance Score:
7
Price at Filing: $12.17
Real-time Price: $1.80 info
Change: -$10.37 (-85%) info
Market Cap: $67.363M info
TENX
May 12, 2026, 8:00 AM EDT
Filing Type: 8-K
Importance Score:
8
Price at Filing: $12.24
Real-time Price: $1.80 info
Change: -$10.44 (-85%) info
Market Cap: $67.363M info
TENX
Apr 22, 2026, 8:00 AM EDT
Filing Type: 8-K
Importance Score:
8
Price at Filing: $13.68
Real-time Price: $1.80 info
Change: -$11.88 (-87%) info
Market Cap: $67.363M info
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