Tenax Therapeutics, Inc. (TENX) is an innovative biotherapeutics company engaged in the development, identification, and commercialization of cardiovascular and pulmonary disorders products. One of the lead product candidates of the company is imatinib used for treating pulmonary arterial hypertension. Another product candidate is levosimendan which is used in treating Pulmonary Hypertension related to cardiac arrest and preserved Ejection Fraction.
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The price of TENX stock during the regular trading session on January 5, 2022, with a 1.48% decline was $1.00. At last check in the aftermarket, the stock was further down by 2.52%.
TENX: Events and Happenings
On January 04, 2022, TENX updated about its patent and clinical platform for two lead candidates including levosimendan or TNX-103 and TNX-201 or imatinib.
The company reported about the conclusion of a shift from intravenous to oral TNX-103 of patients registered for open-label extension rollover clinical study after their previous registration in the Phase 2 HELP clinical trial.
The company also concluded the pharmacokinetic trials for TNX-201 in comparison to reference imatinib. The company, based on the observations of pharmacokinetics studies is altering the TNX-201 treatment to ensure optimum tolerance and efficacy in the Phase 3 clinical trial anticipated to start in 2H 2022.
TENX: Key Financials
On November 16, 2021, TENX announced its financial results for the third quarter ended September 30, 2021. Some of the main highlights are as follows
Net Loss per Share
Basic and diluted net loss for the third quarter ended September 30, 2021, was $3.8 million, or $0.15 per share as compared to a net loss of $2.2 million, or $0.18 per share, for the same quarter of the prior year.
Total Current Assets
Total current assets of the company for Q3 2021 were $8.5 million as compared to the same period of 2020 when they were $8.8 million.
On October 6, 2021, TENX reported about the review and clearance of its Investigational New Drug Application for a new formulation of TNX-201 by the FDA. The company did comparative pharmacokinetic studies for the Phase 3 trial of its delayed drug for treating pulmonary arterial hypertension.
On September 28, 2021, TENX reported that the company’s Executives presented at the Benzinga Virtual Healthcare Small-Cap Conference held on September 29-30, 2021. On September 9, 2021, TENX reported that the company’s Executives presented at the Virtual 23rd Annual H.C. Wainwright Global Investment Conference held on September 13-15, 2021.
The TENX Stock is 49% down the past six months due to the pandemic situation, and the company’s stock is still declining in the recent aftermarket session. The possible reason for the sinking stock is the company’s recent announcement updating about the clinical programs of its lead candidates. The analysts are suggesting the company devise investor-friendly strategies.