newsfilter
← Earnings
Earnings Releases·

Tenax Therapeutics — Third Quarter 2026 Earnings Summary

  • Reported a net loss of $16.7 million for Q3 2026 (vs. $15.8 million in Q3 2025) with cash and cash equivalents increasing to $113.7 million as of September 30, 2026.
  • The Phase 3 LEVEL trial for TNX-103 failed to meet its primary endpoint in the overall population, prompting a temporary pause in the Phase 3 LEVEL-2 trial to implement protocol amendments based on predictive enrichment strategies.
  • Management expects cash runway to fund operations through fiscal 2028, contingent on regulatory feedback from an upcoming FDA Type C meeting, with plans to publish the LEVEL-2 protocol design paper in Q1 2027.
  • Subgroup analyses indicated a 26.3-meter improvement in 6MWD for patients with the most advanced disease, alongside significant reductions in NT-proBNP (49%) and right ventricular systolic pressure (3.5 mmHg) in the overall population.
Company
TENAX THERAPEUTICS INC
Sector
Healthcare
Industry
Biotechnology