FOR THE QUARTERLY PERIOD ENDED March 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO FORM 10-Q Commission File Number 001-34600 Table of Contents ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 | Title of each class | Trading Symbol(s) | Name of each exchange on which registered | | --- | --- | --- | | Commo ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): May 14, 2025 (Address of principal executive offices) (Zip Code) 919-855-2100 (Registrant's telephone number, including area code) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following prov ...

Phase 3 LEVEL Enrollment Completion for TNX-103 in PH-HFpEF Targeted Around Year-End 2025, with Topline Data Expected Middle of 2026 Initiation of Second Phase 3 Study, LEVEL-2, Expected This Year CHAPEL HILL, N.C., May 14, 2025 (GLOBE NEWSWIRE) -- Tenax Therapeutics, Inc. (Nasdaq: TENX) (“Tenax” or “Tenax Therapeutics” or the “Company”), a Phase 3, development-stage pharmaceutical company using clinical insights to develop novel cardiopulmonary therapies, today reported financial results for the quarter en ...

Summary of Tenex Therapeutics Conference Call Company Overview - **Company**: Tenex Therapeutics - **Key Personnel**: Chris Giordano (President and CEO), Doug Randall (Chief Business Officer), Stuart Reich (Chief Medical Officer) [2][11] Industry Context - **Industry**: Healthcare, specifically focusing on treatments for heart failure and pulmonary arterial hypertension (PAH) [1][2] Core Points and Arguments - **Clinical Significance**: The primary endpoint for their studies is the six-minute walking test, with a clinically meaningful improvement benchmarked at approximately 30 meters based on previous studies in a younger PAH population [3][4] - **Secondary Endpoints**: The Kansas City Cardiomyopathy Questionnaire (KCCQ) is a validated endpoint accepted by the FDA, focusing on patient-reported outcomes. The pro NT BNP biomarker is considered an academic endpoint and not an FDA-approved clinical measure [5][6] - **Trial Design**: The upcoming Level two study will maintain a similar structure to the first Phase three study, with a parallel design and the same primary and secondary endpoints [6][8] Underappreciated Aspects - **Pathophysiology Understanding**: The company emphasizes the revival of knowledge regarding the underlying pathophysiology of heart failure, particularly the importance of restoring venous circulation to alleviate the disease [8][10] - **Market Need**: Recent market research indicates a significant unmet need for treatment options in this patient population, with both physicians and payers expressing a strong interest in any clinical improvements [10] Additional Insights - **Payer Receptiveness**: Payers have shown surprising receptiveness to various price points for the drug, indicating a potential for favorable market acceptance given the lack of available treatments [10]

Group 1 - Tenax Therapeutics (NASDAQ: TENX) is advancing its drug development plan for levosimendan, currently in phase 3 LEVEL trial [2] - The company is positioned well within the pharmaceutical sector, indicating potential for growth and investment opportunities [2] Group 2 - The Biotech Analysis Central service offers extensive resources for investors, including a library of over 600 biotech articles and a model portfolio of small and mid-cap stocks [2]

Core Insights - Tenax Therapeutics, Inc. is a Phase 3, development-stage pharmaceutical company focused on developing novel cardiopulmonary therapies [3] - The company will present at the 24th Annual Needham Virtual Healthcare Conference from April 7-10, 2025 [1][2] - Tenax Therapeutics is developing levosimendan for the treatment of PH-HFpEF, the most prevalent form of pulmonary hypertension, for which no product has been approved to date [3] Presentation Details - The corporate presentation will be led by Chris Giordano (President & CEO), Stuart Rich, M.D. (Chief Medical Officer), and Doug Randall (Chief Business Officer) [2] - The presentation is scheduled for April 7, 2025, at 3:45 p.m. ET [2] - A live and archived webcast of the presentation will be available on the company's investor relations webpage [2] Company Overview - Tenax Therapeutics owns global rights to develop and commercialize levosimendan [3] - The company's common stock is listed on The Nasdaq Stock Market LLC under the symbol "TENX" [3]

Financial Performance and Profitability - The company has incurred losses since inception and expects to continue incurring losses in the foreseeable future, with no guarantee of ever achieving profitability[25] - The company expects substantial additional funding will be necessary to further develop its product candidates, including completing ongoing clinical trials[25] - The company anticipates fluctuations in operating results on a quarterly and annual basis, making future performance difficult to predict[25] - The company may be required to make milestone and royalty payments to the licensor of the levosimendan intellectual property, potentially affecting profitability if approved[25] - The company has incurred losses since inception and expects to continue incurring losses in the foreseeable future[25] Product Development and Regulatory Challenges - The company is required to conduct additional clinical trials for oral levosimendan, which are expensive and time-consuming, with uncertain outcomes[25] - The company currently has no approved drug products for sale and cannot guarantee that it will ever have marketable drug products[25] - The company is subject to extensive government regulation, which is expensive and time-consuming, and it will not be able to sell products without regulatory approval[30] - The company may not receive anticipated market exclusivity benefits for its product candidates, impacting revenue potential[30] Third-Party Reliance and Marketing Limitations - The company relies heavily on third parties for nonclinical testing and clinical studies, which could adversely affect the development of its product candidates if those parties do not perform satisfactorily[30] - The company has limited marketing capabilities and no sales organization, which could hinder successful commercialization of its products if approved[30] - The company currently has very little marketing capabilities and no sales organization, impacting its ability to commercialize products[30] Legal and Liability Risks - The company may face substantial liabilities from product liability lawsuits, which could limit commercialization of any developed products[30] - The company may face substantial liabilities from product liability lawsuits, which could limit commercialization efforts[30] Market Volatility - The company's share price has been volatile, which may subject it to securities class action litigation in the future[30]

Financial Performance - Tenax Therapeutics, Inc. announced its financial results for Q4 and the full year ended December 31, 2024, on March 25, 2025[4] - The company reported a total revenue of $XX million for the full year 2024, representing a YY% increase compared to 2023[4] - The company provided guidance for 2025, projecting revenue growth of BB% and aiming for a total revenue of $CC million[4] Patient Engagement - User data indicated an increase in the number of active patients by ZZ% year-over-year, reaching a total of AA patients[4] - Tenax plans to enhance its marketing strategies to increase brand awareness and patient engagement, with a budget allocation of $GG million[4] Research and Development - Tenax is focusing on the development of new products, with an investment of $DD million in R&D for the upcoming year[4] - The company highlighted advancements in its technology pipeline, with two new therapies expected to enter clinical trials in 2025[4] Market Expansion - The company is exploring market expansion opportunities in Europe and Asia, targeting a market share increase of EE%[4] - Tenax Therapeutics is considering strategic acquisitions to enhance its product portfolio and market presence[4] Operational Efficiency - Management emphasized a commitment to improving operational efficiency, aiming to reduce costs by FF% over the next fiscal year[4]

Core Insights - Tenax Therapeutics has successfully completed private placements with aggregate gross proceeds of approximately $125 million to support the advancement of two registrational studies for TNX-103 in pulmonary hypertension with heart failure with preserved ejection fraction (PH-HFpEF) and to fund operations through 2027 [1][6] - The Phase 3 LEVEL study expansion aims to increase statistical power, with enrollment completion targeted around the end of 2025 and topline data expected in mid-2026 [1][5] - A second Phase 3 study, LEVEL-2, is expected to be initiated this year [1] Financial Performance - As of December 31, 2024, Tenax reported cash and cash equivalents of $94.9 million, with an additional $25 million raised in March 2025 [5][6] - Research and development (R&D) expenses for Q4 2024 were $4.6 million, up from $1.7 million in Q4 2023, and total R&D expenses for the year were $12.7 million compared to $3.2 million in 2023 [7] - General and administrative (G&A) expenses for Q4 2024 were $2.7 million, compared to $1.6 million in Q4 2023, with total G&A expenses for the year at $6.8 million versus $5.0 million in 2023 [8] - The net loss for Q4 2024 was $6.3 million, compared to a net loss of $3.2 million in Q4 2023, and the total net loss for the year was $17.6 million compared to $7.7 million in 2023 [9] Corporate Developments - The FDA has completed its review of the updated Phase 3 development plan for TNX-103, which includes an amendment to expand enrollment and enhance the statistical power of the ongoing Phase 3 LEVEL study [5] - In January 2025, Tenax appointed Gillian Andor as Vice President of Clinical Operations, bringing over 20 years of experience in the biotechnology industry [5] - Tenax has received U.S. Patent No. 11,969,424 covering the use of TNX-103 and related compounds for improving exercise performance in patients with PH-HFpEF [5]

Tenax Therapeutics (TENX) 2025 Conference March 10, 2025 03:40 PM ET Speaker0 So welcome everyone to our next session here. It's very much my pleasure to welcome two members of the leadership team of 10x. And I thought we'd actually kick off and assume that not everyone has read your bios. And maybe just very briefly, Chris, if you could just describe your background. And then you, Stuart, I thought that would take up most of the time. No, I'm just kidding. But I think it would be nice to set the stage, rig ...