Tenax Therapeutics, Inc.

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.