Tenax Therapeutics, Inc. (TENX)

Tenax Therapeutics' stock price increased by 130.0% over the last six months as of January 13, 2026. Analysts revised the average one-year price target upwards by 12.22% to $25.76 per share in December 2025. Institutional ownership increased by 109.94% in the three months leading up to December 2025. In November 2025, the company reported its Third Quarter 2025 financial results, highlighting increased research and development expenses and a net loss, but maintained a strong cash position of $99.4 million, projected to fund operations through 2027. The CEO made a significant insider stock purchase in November 2025. The company provided updates on its Phase 3 LEVEL study for TNX-103, with enrollment completion expected in the first half of 2026 and topline data anticipated in the second half of 2026, and initiated a second Phase 3 study, LEVEL-2, in 2025. In December 2025, a prespecified Blinded Sample Size Re-estimation (BSSR) of the LEVEL study confirmed that the trial was well-powered. The company participated in several investor conferences in November 2025.

While Tenax Therapeutics has not explicitly stated demand seasonality for its specific products, the broader market for the diseases it addresses does exhibit seasonal patterns. Demand for pulmonary drugs is generally boosted by the rising prevalence of pulmonary disorders and increased air pollution. The cardiovascular disease drug market is also experiencing a surge in demand due to the increasing incidence of cardiac conditions. It is reasonable to infer that the demand for its future commercialized products could be influenced by these general seasonal and prevalence trends in the respective disease areas.

Tenax Therapeutics is a Phase 3 development-stage pharmaceutical company focused on developing and commercializing therapies for cardiovascular and pulmonary conditions. Its lead candidate, TNX-103 (oral levosimendan), is in Phase 3 clinical trials for pulmonary hypertension with heart failure with preserved ejection fraction (PH-HFpEF). TNX-201 (imatinib) is being developed for pulmonary arterial hypertension (PAH).

Tenax Therapeutics is headquartered in Chapel Hill, North Carolina, and holds North American rights to develop and commercialize levosimendan. The company partners for global market access and has secured intellectual property protection for levosimendan in PH-HFpEF in Europe, with patent protection extending to December 2040.

Tenax Therapeutics has maintained a news sentiment score of 1.20 in the past year. News coverage has primarily focused on its clinical trial advancements, financial results, and corporate updates. There is no readily available information indicating specific negative events or controversies that have significantly impacted Tenax Therapeutics' brand reputation in the past year.

Major institutional owners include Ikarian Capital LLC, VR Adviser, LLC, and Rtw Investments, Lp. As of December 2025, Ikarian Capital LLC held 15.50% ownership, and VR Adviser held 7.01%. Individual and insider ownership includes Armistice Capital LLC (96.55%), John P. Kelley (20.55%), and Dellora Investments LP (5.62%).