Tenax Therapeutics

Tenax Therapeutics

TENX
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TENX · Stock Price

USD 11.65+6.08 (+109.16%)
Market Cap: $295.9M

Historical price data

Market Cap: $295.9MFounded: 2006Employees: 11-50HQ: Morrisville, United States

Overview

Tenax Therapeutics is on a mission to address the critical unmet need in PH-HFpEF, the most common form of pulmonary hypertension globally. Its strategy centers on the targeted repurposing of levosimendan, developing an oral formulation (TNX-103) for chronic use based on the drug's well-known safety profile and promising early clinical data in PH-HFpEF. The company is led by a veteran management team with deep cardiovascular development experience and is currently executing a Phase 3 clinical program designed to derisk the path to potential regulatory approval.

CardiovascularPulmonary Hypertension

Technology Platform

Targeted repurposing and reformulation of established drugs, specifically levosimendan, for chronic cardiovascular conditions with high unmet need.

Funding History

3
Total raised:$12.2M
Debt$2.5M
PIPE$4.2M
PIPE$5.5M

Opportunities

Tenax has a first-mover opportunity in the large, untapped PH-HFpEF market with a derisked drug candidate.
Success could lead to a multi-billion dollar product and strategic acquisition interest.

Risk Factors

The company faces binary risk from its Phase 3 trial, has a limited cash runway requiring dilutive financing, and operates in an area with a history of late-stage clinical failures.

Competitive Landscape

The PH-HFpEF field has no approved therapies and is marked by past failures of major pharma programs. Tenax's oral levosimendan, with positive Phase 2 data, is among the most advanced candidates, facing competition mainly from standard of care and earlier-stage investigational drugs.

Company Timeline

2006Founded

Founded in Morrisville, United States

2021PIPE

PIPE: $5.5M

2022PIPE

PIPE: $4.2M