Tenax Therapeutics — Third Quarter 2026 Earnings Summary

Tenax Therapeutics reported a net loss of $16.7 million for the third quarter of 2026, driven by increased research and development expenses related to its LEVEL and LEVEL-2 clinical trials. The company announced that its Phase 3 LEVEL trial did not meet its primary endpoint in the overall population but identified a predictive enrichment strategy based on baseline exercise capacity and hemodynamic measures. Consequently, enrollment in the ongoing LEVEL-2 trial has been temporarily paused to implement protocol amendments targeting patients with greater exercise impairment. Tenax has been granted a Type C meeting with the FDA to discuss the future development of oral levosimendan for pulmonary hypertension associated with heart failure with preserved ejection fraction.